Monday, March 4, 2019

Navy FCU Faces Class Action Lawsuit over NSF Practices

Navy Federal Credit Union (Vienna) is facing a class action lawsuit over its non sufficient fund (NSF) practices.

The lawsuit alleges that the credit union's NSF practices are predatory and deceptive.

The plaintiff claims that Navy Federal Credit Union’s fee schedule and account documents are counter-intuitive and deceptive.

In addition, the lawsuit states that Navy FCU charges multiple NSF fees on the same transaction.

The lawsuit alleges that Navy FCU purposefully reprocesses a transaction even though the credit union knew the account did not have sufficient funds to cover the transaction, so as to increase NSF revenues.

The lawsuit was filed January 28, 2019 in the U.S. District Court for the Eastern District of Virginia.

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