Whitney Bank Settles Overdraft Class Action For $7M

Law360, New York (February 24, 2012, 10:47 PM EST) -- Whitney Bank has agreed to pay out $6.8 million to settle a class action by customers who accused the bank of running a scheme to maximize revenue on excessive overdraft fees, according to a Thursday filing in Florida federal court.

The settlement still needs court approval, and the two sides have 45 days to submit a formal agreement, laying out the full terms of the deal, the filing said.

The suit was brought in August by Angelique LaCour, on behalf of a class of bank customers...
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