Credit Union To Pay $1.8M Over 'Misleading' Overdraft Policy

Law360 (August 9, 2019, 6:50 PM EDT) -- Customers who accused New England's largest credit union of enacting confusing overdraft policies have sought approval in Massachusetts federal court for a $1.8 million deal to end the dispute.

Digital Federal Credit Union will pay out $1.8 million to customers who were hit with allegedly unwarranted overdraft fees, and for at least the next three years, the Marlborough, Massachusetts-based bank will change the way it assesses overdraft fees to a system the customers say is more fair, according to a court filing on Thursday seeking a green light for the settlement.

Class members won't have to submit a claim, the court filing...

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