Ent Credit Union (Colorado Springs, CO) has settled an overdraft fee class action lawsuit, according to The Colorado Springs Business Journal.
The terms of the agreement remain confidential; however, the credit union stated that all impacted members will receive refunds on all identifiable overdraft fees and insufficient funds fees (NSF fees) raised in the lawsuit.
The credit union stated that the excess overdraft fees and NSF fees were primarily caused by software issues that were unknown to the credit union until the lawsuit was filed.
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