Equity Bank Shelling Out $1,000,000 to Customers To Settle Accusations of Improperly Charging Overdraft and Non-Sufficient Funds Fees
The Daily Hodl
05-22 00:00
Ai Focus
A billion-dollar US bank is preparing to shell out $1 million to settle a class-action...
Helpful
No.Help

A billion-dollar US bank is preparing to shell out $1 million to settle a class-action lawsuit over certain fees charged to customers.

Equity Bank has agreed to settle the lawsuit that alleges the financial institution improperly charged certain overdraft and non-sufficient funds fees to account holders between January 1st, 2017, and November 21st, 2025.

The alleged improper charges include overdraft fees charged on debit card transactions that were authorized on a sufficient available balance and settled in the authorized amount, overdraft or non-sufficient funds fees charged on the second or third presentment of the same item, and overdraft fees charged on days when the end-of-day balance was not overdrawn.

The bank’s account holders, who do not need to file a claim to receive the funds, will receive some portion of the settlement proceeds on a pro rata basis based on the amount of alleged improper fees they paid, after deducting the attorneys’ fees and expenses, as well as the costs of notice and administration.

As part of the settlement, Equity Bank denies any wrongdoing.

Equity Bank has also agreed to forgive $225,000 in uncollected fees that were charged.

A court is expected to give final approval of the settlement on June 29th.

Equity Bank is headquartered in Kansas and has $7.9 billion in assets under management.

Tip
$0
Like
0
Save
0
Views 495
HKWDB reminds readers to view blockchain rationally, stay aware of risks, and beware of virtual token issuance and speculation. All content on this site represents market information or related viewpoints only and does not constitute any form of investment advice. If you find sensitive content, please click“Report”,and we will handle it promptly。
Submit
Comment 0
Hot
Latest
No comments yet. Be the first!
Related
Mark Zuckerberg joins Miami's 'billionaire fortress', a glimpse of his real estate empire
According to Fortune, Mark Zuckerberg, the CEO of Meta with a net worth of $222 billion, is reportedly recently purchased a mansion worth $170 million on Indian Creek Island in Florida alongside his wife, Dr. Priscilla Chan. The mansion is located near the residence that Jeff Bezos, the founder of Amazon, is building. The report also outlines Zuckerberg's property holdings in Palo Alto, Kauai Island in Hawaii, Lake Tahoe, and Washington D.C.
Fortune
·2026-10-31 23:52:42
23
Strive CEO: The Binance hack incident has not changed the long-term logic of Bitcoin, but it is still too early to determine whether the market has hit bottom
Strive CEO Matt Cole stated that despite Binance suffering a hacker attack worth approximately $6.3 billion, this has not changed his long-term investment judgment on Bitcoin. He described the incident as more of a "bank robbery" of the exchange's system rather than a failure of the Bitcoin network itself. However, it is still too early to determine whether the market has bottomed out.
Cointelegraph
·2026-10-31 23:52:40
22
From restaurant guides to payments, TikTok is creating a super app
TechCrunch reports that TikTok is gradually integrating functions such as e-commerce, payment, dining and map information, hotel and attraction reservations, sports content, music, micro-dramas, and games into a single platform, in an attempt to reduce the need for users to switch between different apps and to develop towards a "super app" model.
TechCrunch
·2026-10-31 23:52:39
21
CFTC Chairman Says Binance Hacker Attack Indicates That Offshore Exchanges Need US Regulation
Michael Selliger, chairman of the U.S. Commodity Futures Trading Commission (CFTC), stated that the $6.4 billion hack incident at Binance “precisely demonstrates” the necessity of the crypto market regulations proposed by the agency this month. He described the attack as being more likely caused by a vulnerability introduced through a laptop rather than a flaw in the blockchain itself; however, Binance later indicated that the investigation had uncovered “more entry points” for the attack.
Decrypt
·2026-10-31 23:10:23
32
Next Week's Financial Calendar (November 2nd - November 8th)
The material is not a complete news article; it only includes a title, an introduction, and multiple links to historical calendars. It is not possible to compile a complete report based on this information.
The Block
·2026-10-31 22:53:03
33
View More