In December, the U.S. District Court for the District of New Jersey
granted preliminary approval of a $11.9 million settlement in a class action suit resolving allegations pertaining to a defendant national bank’s out-of-network ATM fees. According to the plaintiff’s
motion, the plaintiffs challenged a fee assessed by the defendant “when its accountholders check their account balance at a [an out-of-network] ATM, referred to herein as an ‘Out of Network ATM Balance Inquiry Fee’ or ‘OON ATM Balance Inquiry Fee.’” The plaintiffs alleged that such fees on balance inquiries, when combined with fees assessed by the bank and by the out-of-network ATM owner, resulted in three total fees on a single cash withdrawal at an out of network ATM, and violated the terms of the defendant’s account agreement.
