Union Bank Checks Out Of Overdraft Fee MDL For $35M

Law360, New York (November 04, 2011, 4:10 PM ET) -- Union Bank NA will shell out $35 million to withdraw from a multidistrict litigation in Florida accusing several banks of breaching contracts by unfairly charging customers exorbitant overdraft fees, the parties said Wednesday.

A notice filed by both parties said Union Bank would pay the sum “in exchange for a full and complete release of all claims brought” against it in the MDL. The proposed settlement will be filed with the court within 45 days, it said.

An attorney for Union Bank declined to comment, and...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required

Case Information

Case Title

In Re: Checking Account Overdraft Litigation

Case Number

1:09-md-02036

Court

Florida Southern

Nature of Suit

Contract: Other

Judge

James Lawrence King

Law360 Coverage

Date Filed

June 10, 2009

Sections

Law Firms Mentioned

Companies Mentioned

Related Articles