Bank Overdraft Fee Litigation
Pierce Atwood represents a large national bank in an overdraft fee MDL pending in the District of South Carolina. During the course of the representation, we obtained dismissal of plaintiffs’ claims based on the bank’s past practice of ordering debits from high to low, and of usury claims based on the bank’s assessment of additional fees after a customer’s checking account continues to have a negative balance ten business days after the initial overdraft. In addition, we successfully opposed plaintiffs’ motion to certify a class seeking actual damages for alleged violation of the Electronic Funds Transfer Act.
Pierce Atwood has also represented state chartered banks in overdraft fee litigation, successfully negotiating a settlement in one case and currently defending a bank in another.