Susquehanna Bank Puts Up $3.7M To Exit Overdraft MDL

Law360, Los Angeles (November 7, 2013, 4:41 PM EST) -- Susquehanna Bank asked a Florida federal judge on Thursday for preliminary approval of a $3.7 million deal to settle a class action accusing the bank of squeezing fees out of customers by processing higher-dollar transactions first, which triggered a series of overdraft fees on small purchases.

The bank is asking the court to approve the deal, initially struck during mediation in December 2012, in which the bank admits no wrongdoing or liability but agrees to repay customers for fees they were charged when the bank processed...
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