Comerica Bank To Pay $15M To Escape Overdraft MDL

Law360, Los Angeles (November 14, 2013, 7:01 PM EST) -- Comerica Bank has agreed to pay $15 million to settle a class action accusing it of systematically processing higher-dollar transactions first in order to trigger overdraft fees on smaller purchases, according to a motion on Thursday asking a Florida federal judge to sign off on the deal.

The plaintiffs filed the motion seeking approval of the deal, initially struck in August, in which Comerica will repay customers for fees they were charged when the bank used “high-to-low posting” to rack up overdraft charges, according to the motion....
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