PHASE II PAYMENT DISTRIBUTION
The Court has approved a Phase II distribution to eligible Settlement Class Members consisting of all residual Settlement funds remaining from the Phase I distribution.
Prior to the Phase II distribution a Supplemental Phase I distribution was performed during the week of July 21, 2014 in which any remaining Phase I distribution checks were issued and mailed to eligible identifiable Settlement Class Members for whom the Settlement Administrator was able to obtain updated and reliable addresses. Please refer to the Phase II Distribution Order here for more information.
If you paid Overdraft Fees to RBS Citizens* or Charter One you may be eligible for a payment from a class action Settlement.1
A $137.5 million Settlement has been reached in several class action lawsuits about the order in which RBS Citizens Bank, N.A., including its Citizens Bank and Charter One brands, and Citizens Bank of Pennsylvania ("Citizens Bank") posted Debit Card Transactions to consumer deposit accounts. The
Complaints in this action contain all of the allegations and claims asserted against Citizens Bank. Citizens Bank maintains that there was nothing wrong with its approval of transactions or the posting process used.
If you held a Citizens Bank consumer deposit account accessible with a Citizens Bank debit card between January 1, 2002 and August 13, 2010, or a Charter One consumer deposit account accessible with a Charter One debit card between July 25, 2005 and August 13, 2010, and paid overdraft fees, you may be a member of the Settlement Class. On March 12, 2013, the United States District Court for the Southern District of Florida granted Final Approval to the Settlement.
Payments will be disbursed to eligible Settlement Class Members beginning on September 19, 2013. You are not eligible for a payment under the Settlement if your Account was closed with a negative balance and the amount of the payment that you would otherwise receive under the Settlement would be insufficient to make the negative balance in that Account positive. Citizens Bank and Charter One employees as of November 2012 are also not eligible for a payment.
You may review Frequently Asked Questions and Answers and the Detailed Notice for more details on who is eligible for benefits under this Settlement and what steps members of the Settlement Class need to take to receive benefits under this Settlement.
* RBS Citizens refers to RBS Citizens, N.A.., including its Citizens Bank and Charter One brands, and Citizens Bank of Pennsylvania (“Citizens”), and the “Acquired Banks” as defined in FAQ 25.
1 Capitalized terms have the same meanings as those used in the Settlement Agreement, a copy of which may be found on this website.