Citizens Bank in $137.5M deal on overdraft fees
MIAMI—Citizens Bank has reached a $137.5 million settlement in a class-action lawsuit claiming customers were charged excessive overdraft fees through debit card and ATM transactions.
The settlement announced Wednesday is the latest in similar lawsuits against at least 30 banks that were consolidated in Miami federal court. Other major settlements have been reached with
A spokeswoman for plaintiff's attorney Robert Gilbert said hundreds of thousands of Citizens Bank customers would be affected. It wasn't immediately clear how much customers might receive in the deal.
A spokesman for Providence, R.I.-based Citizens said the bank was pleased the matter was settled. Citizens is part of Citizens Financial Group, which operates 1,500 branches in 12 states and has more than 20,000 employees.