The overdraft class action litigation trend is continuing. NAFCU continues to hear from credit unions who have either received a demand letter or notice of a complaint filed relative to overdraft and insufficient funds fees (NSF). For several years, financial institutions, including credit unions, have faced class action claims in this area. The claims often had a few elements: violations of Regulation E even where a credit union utilized the rule’s model form; assertions that the account agreement was violated when the account balance was calculated inappropriately and fees were assessed; and multiple state law claims.
Already a member? Log in
NAFCU Members Get More
This page contains member-only content.
Membership is open to all federally insured credit unions in the United States, both federally and state-chartered. Members enjoy:
If you are already logged in and believe you should have access to member-only content, please contact us for assistance at firstname.lastname@example.org.