• Frequently Asked Questions
    1. About these FAQs
    2. What is the status of my payment?
    3. Why did I receive a check or credit?
    4. Why didn’t I receive a check or credit?
    5. How was my payment calculated?
    6. Can I dispute my award or receive more money?
    7. How do I deposit my check that says “For Deposit Only”?
    8. How can I receive a new check if I lost mine?
    9. How can I have my check reissued under a new name (e.g last name change)?
    10. When will my check be reissued?
    11. Can you update my address and re-mail my check?
    12. What do I do if the person on the check is deceased?
    13. What do I do if the person on the check is now under guardianship/gave me power of attorney?
    14. Can I request a check instead of an account credit?
     
    1. What is this lawsuit about?
    2. What is an overdraft fee?
    3. Why is this a class action?
    4. Why is there a Settlement?
    5. Who is included in the Settlement?
    6. What does the Settlement provide?
    7. How do I receive a payment or Account credit?
    8. What am I giving up to remain a member of the Settlement Class?
    9. How do I get out of the Settlement?
    10. Do I have a lawyer in the case?
    11. How will the lawyers be paid?
    12. How do I tell the Court if I do not like the Settlement?
    13. The Courts Final Approval Hearing
    14. How do I get more information?
     
    1. About these FAQs

      These FAQs (answers to frequently asked questions) summarize the lawsuit, the Settlement, your legal rights, the benefits available, who is eligible for those benefits, and how to get them. For a more detailed and precise explanation of your legal rights and options, you can review the Settlement Agreement here.

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    2. What is the status of my payment?

      Eligible Settlement Class Members who have open Accounts at Susquehanna Bank and are entitled to Settlement payments received them by account credit on May 29, 2014.

      Eligible Settlement Class Members who no longer have Accounts with Susquehanna Bank and are entitled to Settlement payments will receive them by check. Check mailing occurred on May 29, 2014. Please be patient in waiting for your check to arrive.

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    3. Why did I receive a check or credit?

      Pursuant to the terms of the Settlement, Settlement Class Counsel and their experts determined that you were an eligible Settlement Class Member who previously incurred eligible Overdraft Fees (see Question 19).

      If your Susquehanna Bank Account is currently open, you received an account credit on May 29, 2014. If your Susquehanna Bank Account has been closed, a check was mailed to you. The account credit or check you receive represents your portion of the Settlement.

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    4. Why didn’t I receive a check or credit?

      If you received postcard notice but did not receive a check, then you are not eligible for a payment under the Settlement because your Account was closed with a negative balance and the amount of the payment that would otherwise be provided for in the Settlement was insufficient to make the balance in that Account positive.

      If you have an open Susquehanna Bank Account, please make sure to double check your account statement and/or online banking for a credit that was applied by Susquehanna Bank on May 29, 2014.

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    5. How was my payment calculated?

      Award calculations were done separately for each individual Settlement Class Member using that class member’s own Account and Overdraft Fee history and applying the formula set forth in the Court-approved Settlement Agreement. Not every Overdraft Fee that was charged is eligible for payment under this Settlement; in general, only those Overdraft Fees that would not have been assessed but for the high to low posting order were eligible for compensation under the Settlement. Only a small percentage of all Overdraft Fees charged to Susquehanna Bank customers were affected by high to low posting (see Question 19). And, of the Overdraft Fees that were eligible, only a portion or a percentage of those fees is payable to each Settlement Class Member as their pro rata share of the Net Settlement Fund.

      The Settlement Agreement is available here and describes, in detail, the calculation and allocation of Settlement Funds.

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    6. Can I dispute my award or receive more money?

      No. The deadline to object to the Settlement was February 24, 2014. The Court approved the Settlement on April 1, 2014 (see Question 26).

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    7. How do I deposit my check that says “For Deposit Only”?

      If your Settlement check is for $50.00 or more, it has a “For Deposit Only” restriction as a fraud prevention measure. If you are unable to deposit the Settlement check into your bank account and/or unable to cash the check at another bank or check cashing agency, you may request that a replacement check be issued to you without the ‘For Deposit Only’ restriction.

      To request a replacement check, please return the original check to the Settlement Administrator at Susquehanna Bank Overdraft Settlement, PO Box 3145, Portland, OR 97208-3145, accompanied by a signed written request asking that a replacement check be issued and mailed to you. Please include an instruction that the replacement check be issued to you without the ‘For Deposit Only’ restriction.

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    8. How can I receive a new check if I lost mine?

      If you have lost the Settlement check, you may request that a replacement check be issued and mailed to you. To request a replacement check, you must submit a signed written request to the Settlement Administrator at Susquehanna Bank Overdraft Settlement, PO Box 3145, Portland, OR 97208-3145, asking that a replacement check be issued and mailed to you. The replacement check will be issued and mailed to you.

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    9. How can I have my check reissued under a new name (e.g last name change)?

      First, please go to your financial institution in which you are a current account holder as it may cash the check if the documentation regarding the status of your name change is presented.

      If your bank will not cash or deposit your check, please return the original check to the Settlement Administrator at Susquehanna Bank Overdraft Settlement, PO Box 3145, Portland, OR 97208-3145, accompanied by a signed written request asking that a replacement check be issued and mailed to you. Please include instructions for the name that should be included on the replacement check. You do not need to provide documentation for the name change.

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    10. When will my check be reissued?

      The check will be reissued within 3 to 4 weeks after the Administrator receives the written request and any required supporting documents.

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    11. Can you update my address and re-mail my check?

      Yes. Please send a letter requesting a reissuance of your check which includes your former and current mailing addresses to Susquehanna Bank Overdraft Settlement, PO Box 3145, Portland, OR 97208-3145.

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    12. What do I do if the person on the check is deceased?

      First, please go to your financial institution in which you are a current account holder as it may cash/deposit the check if documentation regarding the status of the account holder and your status as the beneficiary/executor is presented.

      If your Settlement check is for $50.00 or greater and your bank will not cash the check, please return the original check to the Settlement Administrator, along with a letter of instruction, proof of beneficiary/executor status, and proof of death of the person named on the check (i.e., copy of death certificate).

      If your Settlement check is for an amount less than $50.00 and your bank will not cash the check, please return the original check to the Susquehanna Bank Overdraft Settlement, PO Box 3145, Portland, OR 97208-3145, along with a request letter, signed under penalty of perjury, declaring that you are lawfully designated to receive the funds on behalf of the deceased class member.

      Please send the original check, written reissuance request and any supporting documentation to Susquehanna Bank Overdraft Settlement, PO Box 3145, Portland, OR 97208-3145.

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    13. What do I do if the person on the check is now under guardianship/gave me power of attorney?

      First, please go to your financial institution in which you are a current account holder as it may cash/deposit the check if documentation regarding the status of the claimant and your status as the guardian/power of attorney is presented.

      If your Settlement check is for $50.00 or greater and your bank will not cash the check, please return the original check to the Susquehanna Bank Overdraft Settlement, PO Box 3145, Portland, OR 97208-3145, along with a letter of instruction and proof of guardianship or power of attorney.

      If your check is for an amount less than $50.00 and your bank will not cash the check, please return the original check to the Susquehanna Bank Overdraft Settlement, PO Box 3145, Portland, OR 97228-3145, along with a letter, signed under penalty of perjury, declaring that you are lawfully designated to receive the funds on behalf of the class member.

      Please send the original check, written reissuance request and any supporting documentation to Susquehanna Bank Overdraft Settlement, PO Box 3145, Portland, OR 97208-3145.

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    14. Can I request a check instead of an account credit?

      No. The Settlement Agreement specifies what categories of Settlement Class Members received an account credit or a mailed check. In general, Settlement Class Members who no longer have an Account received a mailed check, and Settlement Class Members who currently have an Account received an account credit.

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    15. What is this lawsuit about?

      The lawsuit claims that Susquehanna Bank posted Debit Card Transactions in the order of highest to lowest dollar amount, which Plaintiffs argue results in an increased number of Overdraft Fees assessed to customers. The complaint in this Action is posted on this website, and contains all of the allegations and claims asserted against Susquehanna Bank. Susquehanna Bank maintains that there was nothing wrong about the posting process it used and that it has not violated any laws.

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    16. What is an overdraft fee?

      An overdraft fee may be assessed when a customer’s withdrawals from a bank account exceed the available balance.

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    17. Why is this a class action?

      In a class action, one or more people, called class representatives (in this case, two Susquehanna Bank customers who were assessed Overdraft Fees), sue on behalf of people who have similar claims.

      All of the people who have claims similar to the class representatives are Settlement Class Members, except for those who exclude themselves from the class.

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    18. Why is there a Settlement?

      The Court has not decided in favor of either Plaintiffs or Susquehanna Bank. Instead, both sides agreed to the Settlement. By agreeing to the Settlement, the Parties avoid the costs and uncertainty of a trial, and Settlement Class Members receive the benefits described in this notice. The class representatives and their attorneys think the Settlement is best for everyone who is affected.

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    19. Who is included in the Settlement?

      If you received notice of the Settlement from a postcard addressed to you, then you are in the Settlement Class. But even if you did not receive a postcard with Settlement notice, you may still be in the Settlement Class, as described below.

      You are included in the Settlement Class if you had one or more Susquehanna Bank consumer checking accounts that you could access with a Debit Card and, at any time between May 15, 2006 and August 15, 2010, incurred an overdraft fee as a result of Susquehanna Bank’s practice of posting Debit Card Transactions from highest to lowest dollar amount. In order to have incurred an Overdraft Fee as a result of this practice, you must have had two or more Overdraft Fees assessed on one or more days during that time period. If this happened to you, you may be in the Settlement Class. If it did not happen to you, you are not a member of the Settlement Class. Further, you are not eligible for a payment under the Settlement if your Account was closed with a negative balance and the amount of the benefits that would otherwise be provided for in the Settlement would be insufficient to make the balance in that Account positive. You may contact the Settlement Administrator if you have any questions as to whether you are in the Settlement Class

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    20. What does the Settlement provide?

      Susquehanna Bank has agreed to establish a Settlement Fund of $3.68 million from which Settlement Class Members may receive payments by check or Account credits. Susquehanna Bank will separately pay for Settlement administration and related costs; such amounts will not come out of the $3.68 million Settlement Fund. However, Susquehanna Bank may be entitled to reimbursement of some or all of the costs it paid if there are residual funds in the Settlement Fund after Settlement Class Members receive their payments or Account credits.

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    21. How do I receive a payment or Account credit?

      If you are in the Settlement Class and entitled to receive a cash benefit, you do not need to do anything to receive a payment by check or Account credit. You will automatically receive a payment by check or Account credit.

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    22. What am I giving up to remain a member of the Settlement Class?

      Unless you excluded yourself from the Settlement Class, you cannot sue, continue to sue or be part of any other lawsuit against Susquehanna Bank about the legal issues in this case. It also means that all of the decisions by the Court will bind you. The “Release of Claims” included in the Settlement Agreement describes the precise legal claims that you gave up if you remained in the Settlement. You can obtain a copy of the Settlement Agreement here.

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    23. How do I get out of the Settlement?

      It is no longer possible to exclude yourself from the Settlement. All timely exclusion requests must have been submitted no later than February 24, 2014.

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    24. Do I have a lawyer in this case?

      The Court has appointed lawyers to represent you and others in the Settlement Class as “Settlement Class Counsel,” including:


      Robert C. Gilbert
      Grossman Roth, P.A.
      2525 Ponce de Leon Blvd., Ste. 1150
      Miami, FL 33134
      Jeffrey M. Ostrow
      Kopelowitz Ostrow P.A.
      200 SW 1st Avenue
      12th Floor
      Fort Lauderdale, FL 33301

      Settlement Class Counsel will represent you and others in the Settlement Class. You will not be charged for these lawyers. If you want to be represented by your own lawyer, you may hire one at your own expense.

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    25. How will the lawyers be paid?

      Class Counsel requested thirty percent (30%) of the money in the Settlement Fund for attorneys’ fees, plus reimbursement of their expenses incurred in connection with prosecuting this case. The fees and expenses awarded by the Court will be paid out of the Settlement Fund. The Court will determine the amount of fees and expenses to award. Class Counsel also requested that $5,000.00 per Plaintiff be paid from the Settlement Fund to the two class representatives for their service to the entire Settlement Class.

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    26. How do I tell the Court if I do not like the Settlement?

      It is no longer possible to object to the Settlement. All timely objections must have been submitted no later than February 24, 2014.

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    27. The Courts Final Approval Hearing

      The Court held a Final Approval Hearing at 10:30 a.m. on March 26, 2014, at the United States District Court for Southern District of Florida, Miami Division, located at James Lawrence King Federal Justice Building, 99 Northeast Fourth Street, Miami, FL 33128. At this hearing, the Court considered whether the Settlement was fair, reasonable and adequate. The Court also considered the request by Class Counsel for attorneys’ fees and expenses and for Service Awards for Plaintiffs. After the hearing, the Court decided to approve the Settlement.

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    28. How do I get more information?

      This notice summarizes the proposed Settlement. More details can be found in the Settlement Agreement. You can obtain a copy of the Settlement Agreement here. You may also write with questions to Susquehanna Bank Overdraft Litigation, P.O. Box 3145, Portland, OR 97208-3145, or call the toll-free number, 1-866-940-3614. Do not contact Susquehanna Bank or the Court for information.

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