Reset Font to Default Medium Font Larger Font

 

Summary of the legal rights and options of settlement class members

The Effective Date of the Settlement was June 27, 2014.  Distribution of awards via an account credit or award check is now complete.  Account credits were issued on July 11, 2014, and award checks were mailed on July 25, 2014.  Award checks were mailed in the form of a postcard check.

 

United States District Court For The Northern District Of Georgia

 

If You Paid Overdraft Fees to Woodforest National Bank

or Woodforest Bank

You May be Eligible for a Payment from a Class Action Settlement.

 

A federal court authorized this Notice.  This is not a solicitation from a lawyer.

• A $7.75 million Settlement has been reached in pending class action litigation about the methodology and order in which Woodforest National Bank and Woodforest Bank (together, “Woodforest”) posted Debit Card Transactions to deposit Accounts, and the effect these practices may have had on the number of Overdraft Fees the bank charged its account holders.  Woodforest maintains there was nothing wrong with the practices used or with the Overdraft Fees assessed.  The Court has not decided which side is right.

• Current and former holders of Woodforest deposit Accounts may be eligible for a payment from the Settlement Fund. 

• The Settlement offers payments to certain current and former Woodforest customers who paid Overdraft Fees as a result of Woodforest’s posting practices during the Class Period.

• Your legal rights are affected whether you act or don’t act. 

Summary Of Your Legal Rights And Options In This Settlement

Get A Payment Automatically

If you are eligible for a payment based on Overdraft Fees charged during the applicable Class Period, you do not have to do anything to receive a payment.  Your payment will be made automatically by either mailed check or electronic payment to your Woodforest Account if the Court approves the Settlement and it becomes effective.

Exclude Yourself

Get no benefits from the Settlement.  This is the only option that allows you to participate in any other lawsuit against Woodforest about the claims in this case.

Object

Write to the Court if you don’t like the Settlement.

Go to a Hearing

Ask to speak in Court about the fairness of the Settlement.  The Final Approval Hearing has been scheduled for May 19, 2014 at 10:30 a.m.

Do Nothing

You will still receive any automatic payment to which you are entitled under the Settlement, and you will give up your right to participate in further litigation against Woodforest about the claims in this case.

• These rights and options—and the deadlines to exercise them—are explained in the Notice.

• The Court in charge of this case still has to decide whether to finally approve the Settlement.  If it does, and any appeals are resolved, benefits will be distributed to those who qualify.  Please be patient.

Disclaimer

Please do not contact Woodforest, its counsel, or the Court with questions about this Settlement.  Any and all callers will be directed to this website.  If you have questions, please refer to the FAQs and other information posted here, or contact the Settlement Administrator by calling 1-866-880-0214 or writing to Woodforest Overdraft Settlement, P.O. Box 3097, Faribault, MN  55021-2697.

This site is not operated by Woodforest.  This class action Settlement is supervised by the Court and is administered by an administration firm that handles all aspects of claims processing.  Woodforest and its counsel are not authorized to respond to questions from members of the Settlement Class regarding the Settlement.

View the Privacy Policy