in Newswire Published on December 8, 2017

Lawsuit: Ideal Credit Union Charges Improper Overdraft Fees

by Tara Voss

Last Updated on May 8, 2018

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Pryor v. Ideal Credit Union

Filed: August 29, 2017 ◆§ 0:17-cv-04022

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Ideal Credit Union has been hit with a proposed class action lawsuit out of Minnesota alleging it charges improper and excessive overdraft fees.

Defendant(s)

Ideal Credit Union

Law(s)

State(s)

Minnesota

Categories

Business/Finance Fraud

Note: This lawsuit was dismissed in December 2017.

Ideal Credit Union has been hit with a proposed class action lawsuit out of Minnesota alleging it charges improper and excessive overdraft fees. Specifically, the lawsuit claims the defendant:

  • Charged overdraft fees on ATM and one-time debit transactions in violation of “Regulation E” under the Electronic Funds Transfer Act
  • Made false, deceptive and/or misleading statements when advertising its overdraft program
  • Advertised services with intent not to sell them as promised
  • Engaged in “deceptive trade practices” by representing its overdraft program has benefits that it does not

    • The case seeks to cover all Ideal Credit Union customers who “were assessed an overdraft fee for an ATM or one-time debit card transaction after (a) July 1, 2010, if the account was opened on or after July 1, 2010; or (b) August 15, 2010, if the account was opened prior to July 1, 2010.”

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    Last Updated on May 8, 2018 — 7:39 PM

    Tara Voss

    tara@classaction.org

    Tara is the editor-in-chief for ClassAction.org. She has been writing and editing legal content for more than a decade, with a particular focus in mass torts, class actions, products liability and wage and hour.

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