In May 2020, a class-action lawsuit was filed against Independent Bank for allegedly misleadingly representing that the bank charges only one overdraft and non-sufficient funds fee on a single transaction that overdraws an account when, according to the complaint, the bank charges such fees even when an account has enough money in it to cover transactions. Plaintiffs also claim that the bank misleadingly represents that it charges only one out-of-network fee on ATM withdrawals when, according to the complaint, the bank charges two fees on ATM withdrawals if they are followed by a balance inquiry. (Grice et al v. Independent Bank, Case No. 20-cv-1948, D.S.C.)

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