Billion-Dollar Bank Sending $3,125,000 To Customers Over Alleged Breach of Contract, Improper Overdraft Fees

Description

A US bank is preparing to pay millions of dollars to settle a lawsuit that accused the lender of breach of contract. According to a preliminary approval order , Illinois-based Midland States Bank will pay $3.125 million to settle accusations that the billion-dollar lender and two other banks it acquired improperly charged overdraft and non-sufficient funds (NSF) fees. Specifically, the class action lawsuit alleged that Midland States Bank by its practices engaged in “Breach of Contract and Breac...