Bankers Trust settles banking class action for $550,000 – Claim Depot
Consumers whom Bankers Trust Co. charged certain overdraft fees may be eligible to receive a cash payment or debt forgiveness from a class action settlement.
Class actions settlements delivered to your inbox.
Consumers whom Bankers Trust Co. charged certain overdraft fees between Dec. 1, 2016, and April 3, 2023, may be eligible to receive a cash payment and/or debt forgiveness from a class action settlement.
Bankers Trust Co. agreed to pay $550,000 and forgive $14,283.26 in debt to resolve a class action lawsuit alleging it improperly assessed overdraft fees on certain debit card and ATM transactions.
Individuals are considered class members if Bankers Trust Co. charged them one or more of the following fees during the relevant periods:
Pro rata payment: The settlement administrator will distribute the net settlement amount on a pro rata basis after deductions for attorneys’ fees and expenses, administration costs and a service award for the class representative. The amount each class member receives depends on the total amount of challenged fees they paid during the class period, as well as the total amount all class members paid.
If there are leftover funds after the first distribution, the settlement administrator may make additional distributions to those who cashed their checks or received credits until it is no longer feasible due to administrative costs. It will then donate any remaining funds to Habitat for Humanity or another court-approved charity.
Class members do not need to file a claim to receive compensation. Those who are eligible and do not exclude themselves will automatically receive a settlement check, account credit or debt forgiveness after the court grants final approval to the settlement.
There is no online claim form or downloadable PDF claim form.
However, class members whose address has changed should contact the settlement administrator at 844-496-1128 or info@BTSettlement.com to update their information and ensure they receive payment.
The $550,000 settlement fund includes:
Bankers Trust Co. will pay $14,283.26 in debt forgiveness separate from the $550,000 cash fund.
The settlement administrator will issue payments approximately 35 days after the court resolves any appeals and grants final approval of the settlement.
The class action lawsuit alleged Bankers Trust Co. improperly assessed overdraft fees on certain debit card and ATM transactions, specifically:
Bankers Trust Co. denied any wrongdoing. Both sides agreed to settle to avoid the expense and uncertainty of continued litigation.
Find any open class action settlement.
Class actions settlements delivered to your inbox.
This browser does not support inline PDFs. Please download the PDF to view it: Download PDF
96% of settlement funds go unclaimed. Be part of the 4% by subscribing to the Claim Depot newsletter and never missing a settlement.
source
This article was autogenerated from a news feed from CDO TIMES selected high quality news and research sources. There was no editorial review conducted beyond that by CDO TIMES staff. Need help with any of the topics in our articles? Schedule your free CDO TIMES Tech Navigator call today to stay ahead of the curve and gain insider advantages to propel your business!
Class actions settlements delivered to your inbox.
Consumers whom Bankers Trust Co. charged certain overdraft fees between Dec. 1, 2016, and April 3, 2023, may be eligible to receive a cash payment and/or debt forgiveness from a class action settlement.
Bankers Trust Co. agreed to pay $550,000 and forgive $14,283.26 in debt to resolve a class action lawsuit alleging it improperly assessed overdraft fees on certain debit card and ATM transactions.
Individuals are considered class members if Bankers Trust Co. charged them one or more of the following fees during the relevant periods:
Pro rata payment: The settlement administrator will distribute the net settlement amount on a pro rata basis after deductions for attorneys’ fees and expenses, administration costs and a service award for the class representative. The amount each class member receives depends on the total amount of challenged fees they paid during the class period, as well as the total amount all class members paid.
If there are leftover funds after the first distribution, the settlement administrator may make additional distributions to those who cashed their checks or received credits until it is no longer feasible due to administrative costs. It will then donate any remaining funds to Habitat for Humanity or another court-approved charity.
Class members do not need to file a claim to receive compensation. Those who are eligible and do not exclude themselves will automatically receive a settlement check, account credit or debt forgiveness after the court grants final approval to the settlement.
There is no online claim form or downloadable PDF claim form.
However, class members whose address has changed should contact the settlement administrator at 844-496-1128 or info@BTSettlement.com to update their information and ensure they receive payment.
The $550,000 settlement fund includes:
Bankers Trust Co. will pay $14,283.26 in debt forgiveness separate from the $550,000 cash fund.
The settlement administrator will issue payments approximately 35 days after the court resolves any appeals and grants final approval of the settlement.
The class action lawsuit alleged Bankers Trust Co. improperly assessed overdraft fees on certain debit card and ATM transactions, specifically:
Bankers Trust Co. denied any wrongdoing. Both sides agreed to settle to avoid the expense and uncertainty of continued litigation.
Find any open class action settlement.
Class actions settlements delivered to your inbox.
This browser does not support inline PDFs. Please download the PDF to view it: Download PDF
96% of settlement funds go unclaimed. Be part of the 4% by subscribing to the Claim Depot newsletter and never missing a settlement.
source
This article was autogenerated from a news feed from CDO TIMES selected high quality news and research sources. There was no editorial review conducted beyond that by CDO TIMES staff. Need help with any of the topics in our articles? Schedule your free CDO TIMES Tech Navigator call today to stay ahead of the curve and gain insider advantages to propel your business!
