Saturday, April 11, 2020

Lawsuit Accuses BECU of Charging Excessive Overdraft Fees

A putative class action lawsuit was filed against Boeing Employees Credit Union (BECU) on August 1, 2019.

The complaint alleged the Washington credit union was engaged in a practice of charging excessive fees on debit and ACH transactions. Specifically, BECU (a) assessed Overdraft Fees (OD Fees) on transactions that do not actually overdraw checking accounts; and (b) charged two or more Non-Sufficient Funds Fees (NSF Fees) on a single transaction.

Plaintiffs claimed these practices were in breach of BECU’s contracts with its members and were unfair and deceptive practices in violation of the Washington Consumer Protection Act.

Read the complaint.

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