Summary
American ATM users can receive compensation from a $1.23 million class-action settlement without needing to prove how they were affected. The settlement involves Flagstar Financial, which faced allegations of charging unfair fees to its customers. Eligible customers will automatically receive payments after the settlement is finalized.
Key Facts
- A $1.23 million class-action settlement involves Flagstar Financial, previously known as New York Community Bank (NYCB).
- The case addresses accusations of unfair ATM and non-sufficient funds (NSF) fees charged to U.S. customers.
- Eligible participants include checking account holders charged certain fees between March 2017 and January 2020, and those with multiple ATM fees between August 2020 and February 2024.
- Customers who qualify will receive payments based on the fees they were charged and do not need to prove their claims.
- Payments will be distributed as account credits or checks, depending on current bank affiliation with Flagstar Financial.
- Class-action settlements resolve lawsuits for a large group of people who have similar claims.
- Customers wishing to opt-out of this settlement have until December 15, 2025.
- A final court approval hearing is scheduled for January 13, 2026, after which payments will be made.
