American Airlines Credit Union To Pay $1.8M In Overdraft Row

Law360 (July 15, 2021, 6:55 PM EDT) -- A proposed class of nearly 26,800 members who banked at American Airlines Federal Credit Union asked a California federal judge Wednesday to preliminarily approve a deal worth about $1.8 million to resolve claims that the Texas-based credit union improperly charged members overdraft and non-sufficient fund fees.

Under the terms of the proposed deal, the credit union would dole out $1.59 million in cash, in addition to waiving roughly $176,000 worth of uncollected fees. Class counsel said in their 29-page motion that they intend to request up to 25% of the settlement fund to cover attorney fees.

The attorneys representing the proposed...

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