U.S. Bank to pay out $55 million in settlement on overdraft feesMinnesota News
-- U.S. Bank will pay out $55-million as part of a settlement on overdraft fees.
MINNEAPOLIS - U.S. Bank will pay out $55-million as part of a settlement on overdraft fees.
More than a million of the bank's customers could get some sort of refund if a federal judge approves the settlement.
U.S. Bank, along with dozens of other financial institutions, was accused of reorganizing customer transactions to get high-dollar purchases debited first, instead of going by when the card was used. That resulted in accounts draining faster, leading in many cases, to more overdraft fees.