Overdraft Fees at Alliant Credit Union
Allegations: Misrepresenting when consumers will be charged overdraft fees
In July 2018, a class-action lawsuit was filed against Alliant Credit Union for allegedly misrepresenting that it only charges overdraft fees if there is not enough money in a checking account to cover transactions when, according to plaintiffs, the credit union charges overdraft fees based on an artificial balance that deducts the holds on pending transactions instead of the actual amount in the account. In addition, the complaint alleges that the credit union represents that only customers who “opt-in” to the overdraft service will be charged overdraft fees on ATM and non-recurring debit card transaction when, according to plaintiffs, the credit union charges overdraft fees without customers’ consent, in violation of federal regulations. (Page et al v. Alliant Credit Union, Case No. 18-cv-11481, D.N.J.)
For more information about other class-action lawsuits regarding overdraft fees and TINA.org’s coverage of the topic, click here.
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