$90 Million Settlement Announced In PNC Bank Overdraft Fee Class Action

PNC Bank

has agreed to pay $90 million to settle a class action lawsuit which accused the bank of improperly manipulating its customers' debit card transactions in order to generate excess overdraft fee revenues. The lawsuit, part of multidistrict litigation involving more than 30 different banks entitled In re Checking Account Overdraft Litigation, is pending before U.S. District Judge James Lawrence King in Miami.