Truist Bank Overdraft Fee Class Action Settlement
Truist Bank · ATM and debit card overdraft fees · Settlement Reached
About this case
A class action alleged that SunTrust Bank's ATM and debit card overdraft fees charged to certain Georgia customers constituted interest in violation of Georgia usury laws. The matter reached a $240 million settlement, with eligible class members potentially receiving a proportional share based on qualifying fees and valid claims.
Case overview
- Defendant company
- Truist Bank
- Product or service
- ATM and debit card overdraft fees
- Court case number
- 10EV010485
- Case status
- Settlement Reached
- Lawsuit type
- Consumer
- Reported harm
- Billing Fees
Important dates
- Overdraft Fee Settlement Claim
Participation information
Overdraft Fee Settlement Claim
Generally, eligible settlement-class members were Georgia citizens on July 12, 2010 and continuously through October 6, 2017; had a SunTrust account that was not closed before June 1, 2010; incurred at least one overdraft of $500 or less from an ATM or debit-card transaction between July 12, 2006 and April 15, 2014; paid the resulting overdraft fee; and did not receive a refund. The settlement excludes people who previously opted out.
Complete the claim form for each eligible account and submit it online through the settlement administrator using the Unique ID and PIN from the mailed or emailed notice, or mail the signed claim form to SunTrust Overdraft Class Action, Settlement Administrator, P.O. Box 2873, Portland, OR 97208-2873. Online claims were due by 2026-09-14; mailed claims had to be postmarked by that date.
- Type
- Settlement Claim
- Status
- Deadline passed
- Total settlement amount
- $240,000,000
- Payout
- Valid claimants receive a partial refund of qualifying unrefunded overdraft fees plus interest, paid from the settlement funds after court-approved fees, costs, incentive payment, and administration expenses are deducted. The distribution is proportional to each account’s qualifying fee total and interest; an account payment below $5 is increased to a $5 minimum. Payment is sent by check or Zelle.
- Reported proof requirement
- No
Sources
- Truist Bank Overdraft Fee Class Action Settlement
Yahoo! Finance ·