Wednesday, July 5, 2017

MidFlorida Credit Union Settles Overdraft Class Action Lawsuit

Credit Union Times is reporting that MidFlorida Credit Union (Lakeland, FL) will pay $2.375 million to settle a class action lawsuit regarding its overdraft fee practices.

The settlement requires the credit union to pay members for overdraft fees assessed between November 24, 2010, and January 15, 2016, if those fees occurred when the member had sufficient ledger balances but insufficient available balances.

Approximately 27,500 accounts were affected.

Read the story.

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