FirstMerit Overdraft Settlement
- Claims can be filed online or by mail
- Filing and exclusion deadlines apply
- Administrator can be reached for help
It certainly isn’t a stretch to assume most individuals don’t like being charged overdraft fees. When people feel like these fees have been charged in an unfair manner it’s likely only a matter of time before the lawyers get involved. The Plaintiffs in a recent class action lawsuit involving FirstMerit (now merged into Huntington Bancshares Incorporated and The Huntington National Bank) allege that the Defendants unlawfully rearranged the order in which debit card transactions were posted to customer deposit accounts in order to increase the number of overdrafts and improperly charge excessive and unwarranted overdraft fees. The Defendants maintain that nothing was wrong with the posting process used and that all applicable laws, regulations, and the terms of the account agreements were complied with. It doesn’t appear the court will rule as to who is right and who is wrong as the sides have agreed to settle the matter for $15,975,000. Those who believe they are entitled to compensation can get a claim started by going to the FirstMerit Overdraft Settlement page and clicking the Submit a Claim tab.
What else do I need to know about the FirstMerit Overdraft Settlement?
- The $15,975,000 settlement fund will be divided into a Cash Fund of $8,975,000 and a Debt Forgiveness Fund of $7,000,000
- The deadline by which claims must be filed for the FirstMerit Overdraft Settlement (both online or by mail) is June 19th, 2017
- Class Members who want out will need to send their request to be excluded to the Settlement Administrator by May 5th, 2017
- Those who wish to wow the crowd with their public speaking skills can do so (or try to) at the June 2nd, 2017 Fairness Hearing
Class Members who are eligible for the Debt Forgiveness fund will automatically receive debt forgiveness applied to eligible deposit accounts that they may have held at FirstMerit. Both those who plan on filing by mail and those who plan to proceed with an exclusion request will need to send correspondence directly to the Settlement Administrator. Class Members who just sit there and do nothing at all will receive no benefits from the settlement and will also lose their right to their own lawsuit. Class Members with questions regarding the process can pick up the phone dial the Settlement Administrator’s toll-free number.
FirstMerit Overdraft Settlement Administrator
- PO Box 6389, Portland, OR 97228-6389