Subscribe Register Login

Wednesday, April 16, 2014, 8:28 a.m.
Top Picks - Arkansas Daily Deal

BancorpSouth settles overdraft lawsuit for $1.75 million

By The Associated Press

This article was published April 6, 2012 at 7:34 a.m.

— BancorpSouth will to pay $1.75 million to settle a class action lawsuit related to improper overdraft fees.

The Northeast Mississippi Daily Journal reports that the Tupelo-based bank also will make changes to its overdraft practices.

BancorpSouth says in a statement that it pleased with the federal court’s preliminary approval of the settlement. The bank says it did nothing wrong.

The lawsuit, filed in federal court in Arkansas, alleged BancorpSouth assessed non-sufficient funds fees and overdraft fees on debit card and check purchases and ATM withdrawals in a number of ways that were “unlawful.”

The lawsuit said BancorpSouth processed the largest transaction first instead of processing the transactions as they are received. The lawsuit alleges the action was taken to maximize the number of non-sufficient funds fees and overdraft fees.

Comment on: BancorpSouth settles overdraft lawsuit for $1.75 million

To report abuse or misuse of this area please hit the "Suggest Removal" link in the comment to alert our online managers. Read our Terms of Use policy.

Subscribe Register Login

You must login to make comments.

Displaying 1 - 1 of 1 total comment

Reason says... April 6, 2012 at 8:01 a.m.

They should go to jail.

( | suggest removal )

  • page
  • 1
Click here to make a comment

To report abuse or misuse of this area please hit the "Suggest Removal" link in the comment to alert our online managers. Read our Terms of Use policy.

TOP JOBS

  • Education

    The Warren School Districtis seeking qualified, applicants f...
    WARREN, AR

  • Tree climber

    tree climbers exp. w/clean MVR needed. Top pay based on exp....
    LITTLE ROCK, AR

  • Hearing test

    arkansas based company looking to hire a couple or individua...
    GARFIELD, AR

  • Route sales

    route sales- Must have good driving record. Previous sales e...
    ALEXANDER, AR

  • Executive director

    Autumn Hill, Inc., located in Carroll County in Northwest Ar...
    FORT SMITH, AR

Search 745 jobs >

Top Picks - Arkansas Daily Deal
Arkansas Online