Bank of Okla. Pays $19M To Settle Overdraft Fee MDL Claims

Law360, New York (July 16, 2012, 8:58 PM EDT) -- Bank of Oklahoma NA has agreed to shell out $19 million to settle a wide-ranging multidistrict litigation that claimed it was one of many banks that improperly collected overdraft fees from their customers, according to court documents filed Monday.

The bank is one of several defendants that have resolved the allegations through settlement over the past year, with Bank of the West having agreed just last week to fork over $18 million.

“Not only does it secure an excellent $19 million fund for the benefit of...
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