A class action lawsuit has been filed against the First National Bank of Pennsylvania in regards to the way they posted customers Debit Card Transactions to accounts. The estimated amount of the Settlement Fund is $3.0 million and includes anyone who had a debit or checking account with First National between June 1, 2006 and including February 8, 2013 and incurred an Overdraft Fee as a result of First National Bank of Pennsylvania’s practice of posting Debit Card Transactions from highest to lowest dollar amount. In order to qualify you must of had two overdraft fees deducted from your account on the same day. First National Bank of Pennsylvania maintains there is nothing wrong with the posting process used but has agreed to settlement out of court. The case is entitled Ord v. First National Bank of Pennsylvania, and Clarey v. First National Bank of Pennsylvania. All class member who elect to stay in the lawsuit will be represtned by David J. Cohen, Esq. and Stephen J. Fearon, Jr., Esq.. You will not be charged for these lawyers but they will receive a cut of the settlement amount (they have requested 33.33% of the value of the Settlement Fund).
A settlement fairness hearing was held on 9:30 a.m. on June 21, 2013. You do not have to file a claim and ff you do nothing, you will still receive the benefits to which you are entitled.
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