According to the Killeen Daily Herald, the 19 plaintiffs in the lawsuit claim that the banks purposely re-ordered transactions to increase the amount ofoverdraft fees a customer would be charged. They also claim that the banks did not inform them that they had the option to opt out of overdraft protection programs.
The Consumer Financial Protection Bureau recently launched an investigation into overdraft programs throughout the nation, as similar claims of questionable penalty fee practices have emerged for many major banks.
BMO Harris Bank recently settled a consumer fraud lawsuit with similar claims for $9.4 million.
If you have been charged excessive overdraft fees, you may be entitled to compensation. Contact Sokolove Law for a free legal consultation and to learn about your options.