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Atlantic Union Bank Overdraft Fees Class Action Lawsuit 2021 – ATB Earning Millions By Charging High Overdraft Fees…

Customers Were Allegedly ‘Bilked’ Millions of Dollars In Overdraft Fees By Atlantic Union Bank

Atlantic Union Bank, one of the largest banks in Virginia, is being sued in a class action lawsuit, just like many other banks across the country. The bank allegedly charges high and unreasonable overdraft fees.

The Plaintiff

A Virginia man has filed a class action lawsuit against Atlantic Union Bank for its overdraft charge practices. He alleges that the bank “bilked” millions of dollars from customer accounts that violate their Atlantic Union agreements.

Marty Hinton, the plaintiff, claims that Atlantic Union Bank’s overdraft policy causes it to incur overdraft fees for transactions that do not overdraw the account at all.

What’s The Lawsuit About?

According to the Atlantic Union Bank Overdraft Fees Class Action Lawsuit, when a debit card transaction is authorized on an account with sufficient funds to cover a transaction, Atlantic Union immediately reduces the customer’s checking account and sets aside the money to cover the transaction, reducing the account’s “available balance.”

Moreover, this means that the account in question will always have enough funds to cover a transaction because Atlantic Union Bank has previously set aside money for payment.

However, many of these transactions are still vulnerable to $36 overdraft fees, according to the lawsuit. When customers’ accounts drop into negative balances days later, Atlantic Union allegedly charges overdraft fees on debit card transactions for which it had already set aside funds.

Marty was charged a $36 overdraft fee on a debit card transaction that was settled on Dec. 16, 2019, even though Atlantic Union Bank had already set aside the money for the transaction when it was performed before that day.

“Unfair” and “Deceptive” Practices

The Consumer Financial Protection Bureau (CFPB) has expressed worry over the Atlantic Union Bank’s practices with another institution, calling them “unfair” and “deceptive.”

Furthermore, the Atlantic Union Bank Overdraft Fees Lawsuit claims that these tactics violate agreements signed in the bank’s contracts, which fail to inform customers about this aspect of the bank’s operations and practices.

Additionally, the lawsuit contends that the bank’s account documents misrepresent its practices.

The overdraft fees at Atlantic Union Bank are now $38, according to the bank’s “Overdraft Services” page. Moreover, as per Atlantic Union’s website, the bank’s fees are capped at six overdraft or NSF fees per day.

The Atlantic Union Bank Overdraft Fees Class Action Lawsuit was filed on behalf of Marty and all other Atlantic Union Bank customers in a similar situation. Anyone with an Atlantic Union checking account charged with overdraft fees on debit card transactions that did not overdraw their account qualifies as a member of the eligible class.

On the grounds of breach of contract and violation of the Electronic Fund Transfers Act, a class action complaint was filed.

Editor’s Note on Atlantic Union Bank Overdraft Fees Class Action Lawsuit 2021:

This article is published to inform you of the latest class action lawsuit filed against Atlantic Union Bank for its overdraft charge practices. The bank allegedly charges high and unreasonable overdraft fees.

Case Name & No.: Marty Hinton v. Atlantic Union Bank, case number 3:20-cv-00651

Jurisdiction: The U.S. District Court for the Eastern District of Virginia, Richmond Division

Products/Services: Excessive and unfair overdraft fees

Allegations: The bank allegedly charged millions of dollars from customer accounts that violate their Atlantic Union agreements.

Status: Pending

If Atlantic Union or another bank has charged you unfair overdraft fees or NSF fees, you may be entitled to join a free class action lawsuit to get compensation. Feel free to message us by clicking the ‘Contact Us’ button below. We would love to hear from you.

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Suggested Article: MoneyGram Remission Scam Settlement 2021.

(PC – ATB)

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