Fifth Third Bank Inks Record $50M Deal In Telemarketing Suit

By Hailey Konnath (March 14, 2022, 7:25 PM EDT) -- Fifth Third Bank, Vantiv Inc. and National Processing Co. will shell out an "unprecedented" $50 million to resolve the remaining claims in litigation over recorded telemarketing calls, according to a motion for preliminary approval filed in Illinois federal court Saturday.

The settlement is nearly double what Wells Fargo agreed to pay in the case and three times larger than the previous record settlement under the California Invasion of Privacy Act, the plaintiffs said in their motion.

"Even after payment of attorneys' fees, incentive awards and administration costs, class members will likely receive hundreds of dollars each, if not more," they said....

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