Skip to main content

U.S. Bank settles overdraft suits for $55M

Minneapolis-based U.S. Bancorp has aggreed to pay out $55 million to settle lawsuits accused of imposing imposed excessive overdraft fees on customers. If a federal judge approves the settlement, the Star Tribune reports more than a million U.S. Bank customers could see some money returned. U.S. Bancorp is among more than 30 lenders being sued over the fees.
  • Author:
  • Updated:
    Original:

Minneapolis-based U.S. Bancorp has aggreed to pay out $55 million to settle lawsuits accused of imposing imposed excessive overdraft fees on customers. If a federal judge approves the settlement, the Star Tribune reports more than a million U.S. Bank customers could see some money returned. U.S. Bancorp is among more than 30 lenders being sued over the fees.

Next Up

Gov. Tim Walz and Scott Jensen.

Walz, Jensen clash over 'extreme' abortion views

The two clashed over the topic on Tuesday, following the Roe v. Wade decision by the U.S. Supreme Court.

Screen Shot 2022-06-28 at 12.24.27 PM

Movie filming brings memorable day for MN teen with leukemia

Ayotzin Limon-Millard was diagnosed with acute myeloid leukemia last year.

Screen Shot 2022-06-28 at 1.25.30 PM

Police trying to ID 'Playboy bandit' and 'no-pants raider' suspect

Police are calling the unidentified man "the Playboy bandit" and the "no-pants raider."

storm, severe, shelf cloud

Twin Cities under severe thunderstorm watch Tuesday afternoon

Large hail and damaging winds are the main threats.

Screen Shot 2022-06-28 at 9.27.30 AM

Famous Dave's family brings new BBQ biz to the south metro

The newest Twin Cities location is the first to offer wine slushies on the menu.

storm, shelf cloud, severe weather

Large hail possible with strong storms in eastern MN, WI

Watch the forecast update with meteorologist Sven Sundgaard.

Tony Evers, Wisconsin governor

WI governor vows to protect anyone charged with abortion crimes

“You think it’s bad now? The four Republicans that are going after me, one of them we’re going to beat, they are going to make it worse," Evers said.

covid

Minnesota's COVID-19 update for Tuesday, June 28

The state will stop providing daily updates and move to weekly editions beginning Thursday, June 30.

FWV_YSOWAAI_CS-

Sports anchor Hobie Artigue announces FOX9 departure

Artigue has spent the past seven years covering Minnesota sports.

hennepin county medical center

Boy, 7, dies after being pulled from pool in south Minneapolis

The boy was pulled from a pool at a home in south Minneapolis.

Screen Shot 2022-06-28 at 8.32.18 AM

Nashville man leaving wedding shot in the face in Minneapolis

He was leaving a wedding when gunfire erupted near the Stone Arch Bridge Saturday night.

image

Abogados Café in St. Paul is the first law-themed coffee shop in America

The new business is Minnesota's first Latina-owned coffee shop.

Related

U.S. Bank latest bank to raise overdraft fees

U.S. Bank is bumping up overdraft fees for all its accounts beginning June 29, the Minneapolis-based bank confirmed Wednesday. The bank's new $35 overdraft fee brings it in line with the country's biggest financial institutions, including Bank of America, Huffington Post reports. Bank officials note that the 15 million-customer bank is eliminating one other fee and lowering yet another.

U.S. Bank ending student loan biz

College students looking for private loans have fewer options. Minnesota Daily reports after nearly 40 years in the student-loan business, Minneapolis-based U.S. Bancorp is going to pull out of the student loan market. A company spokesperson said U.S. Bank was a "very small player" with less than 1.5 percent of the student-lending market share. JPMorgan Chase has also decided to only lend student loans to existing customers.

Firefighter settles disability suit with St. Paul

A St. Paul firefighter will receive a more than half million dollar settlement in a disability dispute. William Eldredge claims the fire department tried to fire him and transfer him to a lesser paying job because he had an eyesight disability.

L.A. files suit, accuses US Bank of being a slumlord

Los Angeles city officials accuse the Minneapolis-based lending firm of allowing more than 150 abandoned homes to deteriorate and fall into disrepair, the L.A. Times reports. The complaint also claims U.S. Bank is responsible for illegally evicting some tenants and forcing others to live in dangerous conditions. The 18-month investigation is part of the city's attempt to deal with urban decay following the housing crash.

U.S. Bancorp's 2Q profit jumps 18 percent

Minneapolis-based U.S. Bancorp reported high-than-expected quarterly profit as revenue rose and set aside less money for bad loans. The fifth-largest U.S. commercial bank posted a net income of $1.42 billion in the second-quarter.