Federal Judge Approves $2M Settlement Of Overdraft Fees Suits

Federal Judge Approves $2M Settlement Of Overdraft Fees Suits

DETROIT - A federal judge in Michigan on Sept. 5 granted preliminary approval of a $2 million settlement that would end consolidated class action suits against Citizens Bank and Citizens Republic Bancorp Inc. (collectively, Citizens Bank) alleging that the banks reordered customers' debit and credit card transactions to maximize overdraft fees (Jane Simpson v. Citizens Bank, No. 12-10267, Shirley D. Liddell v. Citizens Bank, et al., No. 12-11604, E.D. Mich.).

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