Overdraft and NSF Fees Lawsuit Investigation (2024)

We have recovered money for hundreds of thousands of people as a result of our cases.

Our firm has filed overdraft lawsuits against banks on behalf of consumers across the country. We have recovered tens of millions of dollars for our clients 

Major national banks throughout the country faced similar excessive overdraft fee lawsuits: TD Bank and Trustco Bank.  

• In mid-2024, TD Bank agreed to pay over $32 million to settle a lawsuit regarding illegal overdraft fees. According to the class action lawsuit, “TD Bank violated its account terms by assessing unauthorized overdraft fees.”   

• In early 2024, Trustco Bank reached a $2.75 million settlement to resolve a class action lawsuit claiming the bank improperly charged some customers overdraft fees.

You can sue your bank if your overdraft fees are “improper.” Whether the charges were improper are determined by your contract with your bank or consumer protection law. 

You will need an experienced attorney to look over the fee charges and tell you whether they were improper. Banks often disguise fees, which can confuse the customer and increase the bank’s revenue. Our award-winning experienced lawyers can help you determine whether you were unnecessarily charged. 

There are a number of different ways in which banks and credit unions can charge customers excessive fees. It is important to understand the difference between these fees when evaluating whether these charges are fair and legal. 

Overdraft Fees 

• What does this mean? If you don’t have enough money in your account to cover a transaction, but your bank pays the transaction anyway, your account has been overdrafted.  

• Overdrawing your account can happen through the processing of checks, ATM transactions and withdrawals, debit card purchases, and automatic payments. 

These fees and the surrounding transactions can be confusing, and they can add to the burden of having to repay the overdrafted amount. If you feel as though you were wrongfully or excessively charged overdraft fees, speak to an experienced attorney and gain a comprehensive evaluation of your claims. 

Non-sufficient Funds Fees 

• What does this mean? If check or electronic payment is not paid in full due to a lack of funds in your account, you may have been charged a non –sufficient funds (or NSF) even though the bank refused to process the transaction.  

• This means that your bank denies your transaction, and charges you a fee for doing so.  

There have been reports of banks charging multiple NSF fees for a single transaction. If you feel as though you are being charged excessive NSF fees, speak with a financial fraud lawyer to discuss your options.