PNC Bank To Hand Over $90M To Exit Overdraft Fee MDL

Law360, New York (June 26, 2012, 6:03 PM ET) -- PNC Bank NA on Tuesday agreed to fork over $90 million to settle a class action claiming it used a computer software scheme to illegally collect hundreds of millions of dollars in excessive overdraft fees.

The deal was reached just a month after a Florida federal judge certified the class, saying the potential class members could easily be identified through data mining of PNC's own records, and found that the plaintiffs provided common questions capable of classwide resolution because they were all covered by the same...
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