National Penn Overdraft Settlement
- Obtain more information in regards to the class action lawsuit entitled Collier v. National Penn Bank, et al., pending in the Court of Common Pleas of Philadelphia County, Pennsylvania
- This class action is listed as case number 12061036
- National Penn Bank denies any actions of wrong doing but has agreed to a $975,000 settlement pool in order to avoid the unknown expense associated with a court battle
NationalPennOverdraftSettlement.com is administered by Epiq Systems and the lawsuit was first filed back in June of 2012. Class members in the National Penn Overdraft Settlement contend that the bank charged overdraft fees on debit transactions when the account was not actually overdrawn. The bank charged these fees based on account balance and not ledger balance (the primary difference between the ledger balance and available balance is checks that the company or individual has deposited in his account, but which the bank has not yet made available for use). Since the available balance tends to be lower than the ledger balance more overdraft fees were incurred.
Please note National Penn was purchased by Branch Banking & Trust Company in 2016 so some court documents may refer to National Penn as Branch Banking & Trust Company depending on the time of the document.
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- Class members looking to object or exclude themselves from the settlement must do so by 11/7/17
- Class members are defined as anyone who were charged a overdraft fee by National Penn Bank based on the account balance between June 8, 2008 to Dec. 31, 2011
- There is no claim form as payments will be automatically mailed to class members
- The fairness hearing will take placer on or around 12/18/17
NationalPennOverdraftSettlement.com Contact Information
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- Mail: National Penn Settlement Administrator, c/o Epiq Systems, P.O. Box 4068, Portland, OR 97208-4068
- Phone: 888-721-6299
- Email: Not found