Independent Bank Overdraft Fee Class Action Lawsuit
- A 2.2 million dollar class action lawsuit settlement has been approved in Linda R. Glaske v. Independent Bank
- IndependentBankOverdraftSettlement.com is listed as case number 13-009983-CZ and is under review in the Circuit Court for the County of Wayne, State of Michigan
- A settlement fairness hearing will take place on or around 1/10/2018 to determine if the 2.2 million dollar proposed settlement is fair
Linda R. Glaske v. Independent Bank class members contend that Independent Bank improperly accessed overdraft fees for insufficient funds on debit card transactions and/or ATM withdrawals by sequencing the transactions in order from the highest to lowest dollar amount, resulting in increased overdraft fees for some customers.
Class members in the lawsuit are defined as anyone who incurred an overdraft fee due to the bank’s practice of sequencing debit card transactions in order from the highest to lowest dollar amount between the dates of 7/31/07 to 3/9/17 and were Independent Bank members. Independent Bank denies any actions of wrong doing but have agreed to settle in order to avoid costly litigation.
- The amount of money any one class member will receive is not known but former members will receive a cash payment while current Independent Bank members will receive an account credit
- Independent Bank has hired the law firm of Varnum LLP
- Class members who would like to opt of the settlement have until 12/11/17 to do so
- Notices should be sent via US Mail and email
Any questions or concerns in regards to this class action lawsuit can be directed to Independent Bank Overdraft Settlement, P.O. Box 4230, Portland, OR 97208-4230 or dial 1-844-843-0201. Class members looking to make contact via email can send the email to: info@IndependentBankOverdraftSettlement.
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Class members who file valid claims will be represented by E. Adam Webb, Matthew C. Klase, David H. Fink, and Darryl Bressack.