TFC · News · 20260806N
Overdraft Fee Settlement
TRUIST FINANCIAL CORP · 2026-08-06 · Importance 40 · Surprise 42 · In source text
SunTrust Bank, now Truist Bank, agreed to a $240 million class-action settlement concerning ATM and debit-card overdraft fees charged from 2006 through 2014. Eligible customers, primarily Georgia residents, may receive payments ranging from $5 to $1,000. Claimants must submit eligible claims by September 14, 2026, creating a potential pre-tax financial charge for Truist if not already accrued.
Key facts
- SunTrust Bank (now Truist Bank) settled a class-action lawsuit for $240 million over improper ATM and debit card overdraft fees charged between 2006 and 2014. source
- Eligible individuals who received a notice must file a claim before the September 14 deadline for the overdraft settlement. source
- Customers meeting specific eligibility criteria may be entitled to payouts ranging from $5 to $1,000 under the overdraft settlement. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | negative | committed | — | SunTrust Bank (now Truist Bank) settled a class-action lawsuit for $240 million over improper ATM and debit card overdraft fees charged… |
| liability | negative | committed | — | SunTrust Bank (now Truist Bank) settled a class-action lawsuit for $240 million over improper ATM and debit card overdraft fees charged… |