Overdraft Fee Settlements: How to Check If You’re Owed Money From Your Bank

Banks have paid out hundreds of millions of dollars in recent years to settle lawsuits over overdraft fees.

These cases claim that some financial institutions used practices that unfairly increased the number of fees customers had to pay.

If you’ve ever been charged overdraft or non-sufficient funds fees, you may be eligible for compensation.

Why These Lawsuits Were Filed

Many of the lawsuits focus on how banks handled transactions and applied fees. Common issues include:

• Charging multiple non-sufficient funds (NSF) fees for the same transaction
• Applying fees even when your account had enough money at the time of purchase
• Reordering transactions from highest to lowest amount to trigger more overdrafts

These practices often led to customers paying more in fees than expected.

Major Bank Settlements

Several large financial institutions have already agreed to significant payouts:

• TD Bank – $32.2 million settlement
• JPMorgan Chase – $110 million settlement
• Wells Fargo – $203 million settlement
• Cadence Bank – $4.5 million settlement (2025)
• Navy Federal Credit Union – $95 million in refunds ordered
• SunTrust – $240 million settlement, with payouts expected

These settlements cover a wide range of alleged overdraft-related practices.

Who May Qualify

You may be eligible if you:

• Paid overdraft or NSF fees in recent years
• Had a checking account with one of the affected banks
• Closed your account but were previously charged these fees

Both current and former customers are often included in these settlements.

How to Check and File a Claim

If you think you qualify, here are steps you can take:

• Watch for official notices sent by mail or email
• Visit trusted tracking sites like ClassAction.org or TopClassActions
• Review your old bank statements for overdraft-related charges
• Follow claim instructions before deadlines expire

Having documentation can help support your claim and increase potential payouts.

Government Action on “Junk Fees”

The Consumer Financial Protection Bureau has taken action against what it calls “junk fees,” including certain overdraft charges.

Regulators have already required banks to return millions to customers, and a new rule limiting overdraft fee practices is expected to take effect on October 1, 2025.

-

Don't miss out on money that's rightfully yours. Let us help you quickly search for unclaimed assets.

Start your free search now and see if you're owed a financial surprise!