In July 2019, a class-action lawsuit was filed against Community Bank for allegedly misrepresenting that overdraft and insufficient funds fees are only charged on a transaction if the account does not have enough money to cover the transaction when, according to the plaintiffs, the bank charges such fees on debit card transactions that do not overdraw accounts. Plaintiffs also claim that the bank fails to disclose that such overdraft and insufficient funds fees are charged even if the transaction is within Community Bank (i.e., if an account does not have enough money to cover a transaction that transfers money from one Community Bank account to another). (Kelly et al v. Community Bank, N.A., Case No. 19-cv-919, N. D. NY.)
For more of TINA.org’s coverage of banks, click here.