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Overdraft Fee Class Action Lawsuits Lawyers

Banks Are Profiting Off Unfair Overdraft Fees — We’re Fighting Back

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Overdraft Fee Lawsuits

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Why Choose CohenMalad, LLP for Your Overdraft Fee Lawsuit?

For years, banks have been squeezing extra money from their customers through hidden fees, shady transaction reordering, and deceptive overdraft practices. At CohenMalad, LLP, we’ve seen it all — and we don’t back down from a fight.

If your bank has hit you with unfair overdraft fees, you’re not alone. We’re actively investigating and filing lawsuits against banks and credit unions that engage in these predatory practices. Our firm has the experience, the resources, and the tenacity to take on major financial institutions and make them pay for their wrongdoing.

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What Are Overdraft Fees?

Overdraft fees are charges imposed by banks when an account lacks sufficient funds to cover a transaction, but the bank processes it anyway. The bank then charges the account holder a penalty, often $35 or more per transaction. These fees can quickly add up, leaving consumers trapped in a cycle of debt over a few minor purchases.

While banks originally marketed overdraft protection as a convenience, many banks have turned it into a massive profit machine at the expense of their customers.

Unfair Overdraft Fee Practices

Banks claim overdraft fees are necessary, but in reality, many financial institutions use manipulative tactics to rack up fees unfairly. Some of the most common predatory overdraft practices include:

  • Transaction reordering: Instead of processing transactions chronologically, some banks reorder them from largest to smallest, which drains your balance faster, causing multiple overdraft fees when only one should have applied.
  • Multiple fees on a single transaction: Some banks charge multiple overdraft fees for the same item, especially if it’s retried for payment.
  • Deceptive overdraft protection enrollment: Many customers are automatically opted into overdraft protection without their knowledge, leading to unexpected fees.
  • Unclear fee disclosures: Banks often bury their overdraft policies in fine print, making it difficult for customers to understand when they will be charged.

If any of this sounds familiar, you may have a case against your bank.

Who Is Eligible to Join an Overdraft Fee Class Action Lawsuit?

You may be eligible to join the lawsuit if:

  • You were charged excessive or repeated overdraft fees.
  • Your bank reordered transactions to maximize overdraft charges.
  • You were charged multiple fees for the same transaction.
  • You were opted into overdraft protection without clear consent.
  • Your bank’s overdraft policies were misleading or deceptive.

Many major banks and credit unions have already faced lawsuits over these practices. If you’ve been hit with unfair fees, now is the time to act.

How CohenMalad, LLP Can Help You Pursue Compensation

Banks count on customers not knowing their rights or assuming there’s nothing they can do. That’s where we come in.

At CohenMalad, LLP, our accomplished team fights for consumers who have been wronged by financial institutions. When you join an overdraft fee class action, you’re not just fighting for your own compensation; you’re sending a message that these abusive practices won’t be tolerated.

We handle all aspects of the case, from investigating bank policies to negotiating settlements or taking the fight to court. There are no upfront costs and no hassle — just experienced attorneys working to get you the money you deserve.

Compensation Available in Overdraft Fee Class Action Lawsuits

If the lawsuit is successful, class members may be eligible to recover:

  • Refunds of wrongfully charged overdraft fees: Getting your money back for unfair fees imposed by your bank.
  • Additional damages: Compensation for financial hardship caused by excessive overdraft charges.
  • Changes to bank policies: Forcing banks to change deceptive overdraft practices, preventing future abuse.

While settlement amounts vary, these lawsuits have resulted in millions of dollars in refunds for bank customers across the country.

The Legal Process for Filing a Class Action Lawsuit

Joining a class action lawsuit is simple, and there’s no risk to you. Here’s how it works:

  1. Case review: Contact us, and we’ll evaluate whether you qualify to join an existing class action or start a new one.
  2. Class action filing: If you’re eligible, we’ll include you in the lawsuit against the bank.
  3. Settlement or trial: Our team fights for the best possible outcome, whether through settlement negotiations or courtroom litigation.
  4. Compensation distribution: If the lawsuit is successful, eligible participants receive their share of the settlement.

You don’t need to worry about the paperwork and deadlines once you sign up. We’ll handle the legal details on your behalf.

Understanding the Statute of Limitations for Overdraft Fee Class Action Lawsuits

There are deadlines for filing claims, and waiting too long could mean losing your chance to recover compensation. The statute of limitations varies by state and by the specifics of your case, so it’s crucial to act quickly.

If you believe you’ve been charged unfair overdraft fees, contact us immediately to protect your rights and ensure you don’t miss your opportunity to join the lawsuit.

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Take Action — Contact CohenMalad, LLP Today

Banks have taken immense sums of money from their customers through unfair overdraft fees. It’s time to fight back. Contact CohenMalad, LLP today for a free consultation and find out whether you qualify for an overdraft fee class action lawsuit.

You Have Options – Contact CohenMalad, LLP for Honest Answers

Contact us today for a free consultation. Together, we can hold corporations accountable and fight for the justice you deserve.

Frequently Asked Questions About Overdraft Fee Class Action Lawsuits

  • Can I join a class action if I no longer bank with the institution that charged me overdraft fees?

    Yes. Even if you’ve closed your account or switched banks, you may still be eligible to join a class action lawsuit. What matters is whether you were unfairly charged overdraft fees while you were a customer.

    Banks are still responsible for past deceptive practices, and former account holders can often claim compensation. Keeping records of your past statements or account history can strengthen your claim.

  • What if I paid off my overdraft fees — can I still be compensated?

    Yes. Paying the fees doesn’t mean they were fair or legal. Many consumers pay overdraft fees simply to keep their accounts in good standing, even when the fees are the result of deceptive practices like transaction reordering. If a class action lawsuit is successful, eligible participants can receive a refund, even if they have already paid off the fees.

  • How much money can I get from an overdraft fee lawsuit?

    The amount you may recover depends on several factors, including the total fees charged, the number of affected customers, and the outcome of the case. In past lawsuits, banks have been forced to refund millions of dollars to consumers, with individual payouts varying from small refunds to significant compensation.

    While no law firm can guarantee a specific amount, our goal is to recover as much as possible for every eligible class member.

  • Do I need to have all my bank statements to join the lawsuit?

    Not necessarily. While bank statements showing overdraft fees can strengthen your case, many banks retain transaction records that we can access during the legal process. If you no longer have your statements, we can still evaluate your eligibility and determine whether your information is available through other means.

  • Can I sue my bank individually instead of joining a class action?

    In some cases, yes, but class actions are often the most effective way to fight back against banks' systemic unfair practices. Individual lawsuits may be costly and time-consuming, while a class action allows a group of affected customers to hold the bank accountable together.

    However, if your case is unique or involves a large financial loss, we can discuss whether an individual lawsuit might be a better option.

  • How long does an overdraft fee class action lawsuit take?

    Class action lawsuits can take anywhere from several months to a few years, depending on the complexity of the case and whether the bank decides to settle or fight in court. Once a settlement is reached, compensation distribution can take additional time as claims are processed.

    While legal battles against big banks aren’t quick, they are necessary to ensure justice for consumers and to prevent these abusive practices from continuing.

Ready to Get Your Money Back? Let Us Help You.

If you have losses from unfair overdraft fees, don’t wait. Contact CohenMalad, LLP today and join the fight against predatory banking practices.

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