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Citizens Bank Overdraft Fee Settlement

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Citizens Bank LogoCitizens Bank is the latest bank to reach a settlement for overdraft fees, a wave of settlements that started sometime last year. The Bank of America settlement and Fifth Third Bank settlement had previously been covered here. Citizens Bank, along with many other banks, was accused of reordering customers’ transactions in order to maximize overdraft fee revenue, a common tactic used a few years ago in order to increase fee revenue. Citizens Bank is the 13th bank to reach a settlement.

Citizens Bank will pay $137.5 million to settle the lawsuit (In re Checking Account Overdraft Litigation, case number 09-cv-02036 in Miami). I’ll update with settlement details, how you can get your fair share of the settlement, and website information as soon as the settlement is approved and those details are made clear. Right now, the settlement hasn’t been approved so there’s really no point is reviewing the details because they could change at a later date.

If it’s anything like the Bank of American settlement, it’ll take several months before the settlement is approved and even longer to figure out how much each person gets. At this point, the only thing to do is wait (and decide if you want to opt out). In the case of Bank of America, payments and account credits were automatically issued from the settlement fund after Court-approved disbursements were remove, for laywers and the like. Citizens is a much smaller bank but the settlement fund is smaller too, $137.5 million for Citizens versus $410 million in the BoA fund.

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99 Responses to “Citizens Bank Overdraft Fee Settlement”

  1. Sabrina says:

    I rec’d my postcard in the mail today (11-17-12) stating that I would be part of this settlement. Can some one please tell me how to go about filing the claim(?) The corner of my postcard with the telephone number was torn off I have 1-888-273-04 the last two digits of the number was torn off. I clicked on just about every site, there isn’t a link to submit your claim on any of them! Please help!

  2. Mags says:

    Nobody will get much….with over 1 million ‘victims’, everyone will be lucky to get $100 each….

  3. Nikki says:

    Same here every month they bilk me w overages .and I have only been w this bank for about three or four years but each year I have been robbed about 3k each year since I opened this acct its disgusting that thy have done this to people and the even more sickening part for me is thy always tried to make me sign up when I went thru teller for the overdraft protection , but I knew they were doing shady stuff I would see debits that were debited an then see the same ones a week later at the top which I knew from being a BOA customer wasn’t looking normal to me , but I was more embarrassed thinking I was a horrible banker now to find this out is disgusting! ….. So yea I’m sick to my stomach! what a bunch of creeps thy are .and sad thing is the customer will see very little back from the suit unless you wanna hire a lawyer an payout more to get something that’s yours back is not right either .

  4. Laurie says:

    Just received a card saying that a $137.5 million settlement has been reached. The court is holding a hearing on March 7, 2013. Here is the killer: “Class Counsel is requesting 30% of the Settlement Fund plus costs and expenses”. Good luck to any of us receiving even a iota of what Citizens Bank took from us. Don’t expect much. I suppose I should just be happy that a class of people got together and pursued this issue with Citizens and they have to pay back something. But 30% to the lawyers who are handling the lawsuit is a little much.

  5. Sam says:

    They were letting you overdraft anytime and everytime you want. I know something wasn’t right about that.

  6. linda says:

    This bank is still doing the same thing to customers. Just happened to my husband, even after this suit was filed. Fight them.Make complaints to your attorney general and the divison of banks. I just got my husbands charges put back into his account.

  7. Aura says:

    This Bank is out of control! I closed my both my account and my joint account with my husband. They did us so wrong we are still making monthly payments to them to avoid credit reporting. Last year alone I paid over $700.00 on over draft fees. Unbelievable, my prayers were answer they will not get away with it!

    • Charlene says:

      They took $700.00 from me during Christmas time because I made a bunch of transactions buying presents, and each couple of dollars I spent cost me $39.00 fees each time. Times that by all of the inexpensive presents I bought for my family and friends and that’s how it got out of hand to the amount mention above. They owe me thousands, because I went below a dollar here and a dollar there. There’s no justification to charge $39.00 for going below your account $1.00. They are thieves and it is sickening.

  8. Theresa says:

    is there some were online that we can start the claim?

    • Anonymous says:

      Iam a victim also Iam just glad some one is doing something…..They have gotten away with this for years…..

  9. Anonymous says:

    How do i get a claim form

  10. rose says:

    Okay so i also received a post card about this oh sop called settlement!! Now I am not sure if I really believe it or not, only due to the fact I have had received many of these post cared before about companies closing or going bankrupt. and having a so called CLASS ACTION SUIT ON THEM!!! There has always been a way to contact them if I wished to stay included in the suit or a contact persons if I chose not to say in the civil suit! This Paper seems to me to be contradicting ,itself and very confusing, Okay so yes I did have the account that they are mentioning with in the allotted time and was charged for overdraft fees. But as the person above me so kindly stated ( HOW DO YOU FILE A CLAIM FOR THIS CLASS ACTION SUIT)? is there anyone out there that may know the answer to this question be it a lawyer or someone that is handling this LAW SUIT? It would really be nice 2 know if there is anything that we have to do to collect out Monies from this action law suits?
    I WILL BE WAITING PATIENTLY FOR A ANSWER

  11. Dave says:

    I tried the phone number, couldn’t even get a busy signal!!!

  12. Patsy says:

    how do I get the forms I need?

  13. Anonymous says:

    Yes you can file a claim on line you also have to send bank statements.

  14. stephanie says:

    I am wondering if This applies 2 me. I am a former Citizens bank customer but this was prob about 2 and a half yrs ago. How can I tell if This would apply 2 me or not? Thanks.

    • Charlene says:

      I’m wondering if this is bullcrap. I think this is just a scam. Why doesn’t Citizens Bank have a link on their website to take you directly to their claims department? Why are third party sweepstakes websites a part of this process? SCAM!

  15. Anonymous says:

    how could someone go abount filing a complaint against another bank? I paid over 900 dollars in overdraft fees last year!

  16. Anonymous says:

    Well I just talked with someone and they said not to worry about that claim form because if you rec’d a post card you are automatically included

  17. Velma says:

    I was overdraft month after month and I receive disablity Social Security and they would take almost my whole check for the month and I would borrow money for others to pay my bills for the month because I had noway of pay the overdraft fees so they kept adding and adding on the fees until it was time for my next check to be deposited and by this time they got all or most of my money. They robbed the poor and low income people. Then they wanted me to get a savings account, now how would I be able to save something and they are taking all that I have. I wish I could get everything that have taken for me. They still do this if you overdraft even after you opt out. I say why pay for something when the money is not in the account. The let the bill collector call me when they can’t get the money then I would make arrangements to get the money to pay my bill. What ever I get would be success that the bank had to give me something back.

  18. joyce says:

    How do i get a claim form?

  19. Anonymous says:

    I FEEL LIKE ALL THIS TIME N NO TELLING WHEN THIS SETTLEMENT IS GOING TO B FINALIZE,WE SHOULD GET INTEREST 4 ALL TIME WE HAVE TO WAIT,I FELT SOMETHING WAS WRONG.

  20. D KELL says:

    STILL NOT SETTLE YET BUT I WILL SAY THIS,HOW ABOUT SOME INTEREST 2.

  21. UGHHHHH says:

    Go on the website and read the instructions, you need your bank statements from when these actions occurred!!! How do you get statements from years ago??? Is it worth it??

  22. Gerald says:

    I had a savings account for what was then an underaged daughter. They apparently issued her a debit card on the account…something under aged arnt supposed to get…and she whittled her $150 down on sweets $% at a time. well she went into overdraft and Citizens charged me over $600. When I asked them why they issued her a debit card they said it was an oversight on their part but I was still libel for the over draft!

  23. Theyrobbed Me says:

    Citizens nailed me for Thousands.. The best part is… If you dont have your statements they can only go back 6 months in their files. Since the lawsuit is supposed to be directed from 2003 to 2010 if you dont have proof your screwed again !!! Nice

    • dawn says:

      You should be able to pull if online there is direction to enter a time frame for fees. I have been saying this for years at the branch that it was highway robbery to take the highest amount first they have even moved my transaction dates to bounce things. The latest was a $15 fee for my account. When i opened my account in 2002 it was their circle account as long as i had direct deposit. Last year they changed it to a green account how can they do that i didn’t sign anything to change my account

      • lisa-from MA. says:

        WHO PICKED THE DATES? IHAVE BEEN A CUSTOMER FOR OVER 20 YRS AND THEIR SYSTEM REALLY STARTED AROUND 2008,BEFORE THAT THEY RETURNED THE ITEMS WITH ONE FEE NOT A MILLION.THE WORST IS HOW THEY DID IT THEY SUCKED YOU IN TELLING YOU THEIR SYSTEM WOULD HELP YOU.!!!!! (PLEASE) I HAVE BEEN HIT FOR THOUSANDS AND I REALLY BELIEVE EVERY ONE IS OUT TO TAKE FROM THE HARDWORKIG AND THE LOW INCOME PEOPLE. THEY KNOW WHO THEY CAN STEAL FROM.

  24. norman says:

    how do i get a claim form

  25. Ron gounder says:

    Will I receive this automatically I called the number and they just mentioned a newsletter would be sent


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