Navy Federal Credit Union
Allegations: Misrepresenting how many overdraft fees will be charged on a single transaction
Overdraft Fees at Navy Federal Credit Union
May 2019: A federal judge granted final approval of a settlement agreement that would provide class members with a cash award in an amount that depends on the number of overdraft fees they paid. Current accountholders will receive their award as a credit to their account and past accountholders will receive a check in the mail. In addition, the credit union changed the disclosures about overdraft fees in November 2017.
June 2017: A class-action lawsuit was filed against Navy Federal Credit Union for allegedly misleadingly promising that it only charges Optional Overdraft Protection Fees on transactions if an account does not have enough funds to cover a transaction when, according to plaintiffs, the credit union charges such fees on transaction even when there is enough money in an account to cover the transaction. (Plaintiffs filed an amended complaint in May 2018.) (Lloyd et al v. Navy Federal Credit Union, Case No. 17-cv-1280, S.D. Cal.)
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Class-Action Tracker
Navy Federal Credit Union
Allegations: Misrepresenting how many overdraft fees will be charged on a single transaction
Foreign Transaction Fees at Navy Federal Credit Union
Allegations: Misleadingly representing that the credit union charges foreign transaction fees on transactions made outside of the United States when it charges such fees on transactions made online in the…
Zelle Transfers at Navy Federal Credit Union
Allegations: Representing that accountholders will not be held responsible for fraudulent transactions when it rejects fraud claims without explanation or recourse
Zelle at Navy Federal Credit Union
Allegations: Marketing Zelle as “backed by banks,” “safe” and providing accountholders with “Zero Fraud Liability” when the credit union denies fraud claims without explanation or recourse
Zelle Money Transfers at Navy Federal Credit Union
Allegations: Marketing Zelle money transfers as safe and secure without disclosing there is no protection for victims of fraud and no recourse for lost funds
International Service Assessment Fees at Navy Federal Credit Union
Foreign Transaction Fees at Navy Federal Credit Union
Allegations: Misleadingly representing that the credit union only charges Foreign Transaction Fees on transactions made in foreign countries when it also charges such fees on transactions made online in the…
Navy Federal Credit Union
Allegations: Misrepresenting when consumers will be charged overdraft fees
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