Area Bank Agrees to $2.5 Million Settlement of Debit Card Fee Lawsuit

November 12, 2013
Scranton Times-Tribune 
overdraft news

Pennsylvania-based First Liberty Bank & Trust has agreed to pay $2.5 million to settle charges that it juggled the order in which it posted debit card transactions. The complaint claims the bank processed transactions from highest amount to lowest -- instead of in the order in which they were received -- so that customers would overdraw their accounts and the bank would maximize its own profits from fees. First Liberty agreed to pay 48,976 members of the class-action suit who were charged overdraft fees between July 20, 2006, and Aug. 15, 2010, according to documents filed in federal court in Scranton.

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