STAR Financial Group $2.5M Overdraft Fees Settlement

If you had a checking account with STAR Financial Bank and were charged an overdraft fee between March 18, 2011, and June 30, 2024, you may be eligible to claim a payment from a class action settlement.

STAR Financial Group, Inc. has agreed to pay $2,500,000 to settle a class action lawsuit for alleged improper assessment of overdraft fees.

Who are the class members?

Class members include individuals who had a checking account with STAR Financial Bank and were charged overdraft fees between March 18, 2011, and June 30, 2024.

How much can class members get?

Class members can receive a cash payment, account credit, or forgiveness of uncollected overdraft fees. The exact amount depends on the balance of the Settlement Fund after deductions for attorneys' fees, costs, and other expenses.

Class members do not need to provide proof as the Settlement Administrator already has the necessary information.

If you received a notice, you are entitled to a payment or credit automatically.

Payment methods

• Account credit for current STAR customers
• Check for former STAR customers

Settlement fund breakdown

The settlement fund of $2,500,000 will cover:

• Attorneys' fees up to one-third of the settlement value
• Service awards of $5,000 each to the plaintiffs
• Settlement Administrator and Fee Expert expenses of approximately $105,504
• Remaining funds distributed to class members

Important dates

• Fairness Hearing: November 19, 2024
• Deadline to File a Claim: Not applicable as no action is needed
• Final Approval Hearing: November 19, 2024

When is the STAR Financial Group Settlement payout date?

The court will hold a Final Approval Hearing on November 19, 2024. If approved, payments will be distributed within 60 days, unless there are appeals.

Why is there a class action settlement?

The lawsuit alleged that STAR Financial Group improperly assessed overdraft fees, violating contractual agreements and consumer protection laws. The settlement avoids the uncertainties of trial and provides compensation to affected customers.