Customers of CenterState Bank have 24 days to file a claim and receive a portion of a nearly $2.7 million class-action settlement with the bank after allegations of illegal overdraft fees.
The settlement, worth $2.65 million, will benefit CenterState Bank customers who had a checking account with the bank and were charged certain overdraft fees on debit transactions between April 6, 2015, and May 31, 2020, or were charged nonsufficient funds or overdraft fees on ACH debits or checks between Aug. 18, 2015, and Aug. 21, 2020.
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CenterState Bank has not admitted wrongdoing but agreed to the settlement to resolve the class-action lawsuit. The bank ranked among Forbes’s top 50 best banks in America.
Eligible recipients of the settlement will receive a pro-rata share of the net settlement fund based on the amount they were charged in illegal bank fees. Class members can receive a cash payment, account credit, or forgiveness of uncollected fees, depending on their situation.
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The deadline for exclusion and objection is Oct. 23. The approval hearing for the settlement is scheduled for Nov. 30.
CenterState Bank, now known as SouthState Bank, is a financial institution with over 240 branches and ATMs across Alabama, Florida, Georgia, North Carolina, South Carolina, and Virginia.
