A class action lawsuit filed on behalf of BancorpSouth customers who allege they were assessed improper overdraft fees could settle for $1.75 million, according to the Associated Press.
The suit, filed in an Arkansas federal court, alleges that the bank assessed insufficient funds and overdraft fees on debit card purchases and ATM withdrawals by using “unlawful” methods.
BancorpSouth continues to maintain that it did nothing wrong. The settlement will go before a federal court later this summer for final approval.
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