** Class Action Lawsuit ** Credit Unions Hit with Seven Overdraft Fraud Class Action Lawsuits
** Class Action Lawsuit **
“Seven class action lawsuits were filed between June 21 and June 26 against SchoolsFirst Federal Credit Union, Star One Credit Union, Kern Schools Federal Credit Union, Educational Employees Credit Union, Alliant Credit Union, Alabama Telco Credit Union and America’s First Federal Credit Union alleging the credit unions charged improper overdraft fees”
Plaintiffs accuse the credit unions of deceptive business practices that involve “the systematic manipulation and re-ordering of electronic debit transactions from the highest dollar amount to the lowest dollar amount … to maximize the amount of overdraft fees collected.”
