$564K+ Bankers Trust Company Settlement Ends Class Action Lawsuit Over Alleged Overdraft Fees

New to ClassAction.org? Read our Newswire Disclaimer

Bankers Trust Company has agreed to pay more than $564,000 to settle a class action lawsuit over its alleged practice of charging excessive overdraft fees on debit card transactions between December 2016 and April 2023.

Don’t miss the next class action settlement deadline. Sign up for ClassAction.org’s free weekly newsletter.

The $564,283.26 Bankers Trust Company class action settlement received preliminary approval from the court on August 12, 2025 and covers two groups of consumers who received notice about the settlement via email or postcard. The class action settlement covers any consumer who was charged an overdraft fee on a debit card transaction when there were sufficient funds available in their account between December 1, 2016 and April 3, 2023, and any consumer who was charged an overdraft fee on a one-time debit card or ATM transaction between December 1, 2022 and April 3, 2023.

The court-approved website for the Bankers Trust Company class action settlement can be found at https://BTSettlement.com/.

Bankers Trust settlement class members do not need to do anything to receive benefits from the deal, as they are automatically processed within the financial institution’s systems. Consumers who believe they may be a class member but did not receive a settlement notice should contact the settlement administrator to confirm their identity and await further instructions.

Per the settlement website, each class member will be eligible to receive a one-time, pro-rated cash payment from the settlement fund, after the deduction of settlement administration expenses, attorney costs and fees, and service awards. The amount each class member may receive will be calculated based on the total amount of challenged fees they paid, divided by the total amount of fees paid by all class members, then multiplied by the remaining amount in the net settlement fund. Reimbursement will be automatically distributed to cash members via check, which must be cashed within 120 days after the date of issuance before they expire.

In addition to the initial $500,000 settlement fund, Bankers Trust Company has also agreed to pay an additional $14,283.68 to forgive and charge off any uncollected overdraft fees from class member accounts during the aforementioned class periods.

According to the settlement website, the deadline to ask to be excluded from or object to the Bankers Trust Company class action settlement is November 17, 2025.

The court will determine whether to grant final approval to the Bankers Trust Company settlement at a hearing on December 17, 2025. Compensation will begin to be distributed to class members only after final approval is granted and any appeals are resolved.

The class action lawsuit alleged that Bankers Trust Company improperly assessed certain overdraft fees on debit card transactions that were authorized due to a consumer’s account having a sufficient balance to cover the amount being charged. The case alleged that Bankers Trust also charged improper overdraft fees on one-time debit card transactions and ATM transactions, in breach of its customer contracts and in violation of the federal Electronic Funds Transfer Act.

Looking for current class action lawsuits to join? Check out ClassAction.org’s class action lawsuit list.