Chickasaw Community Bank Overdraft Fee Settlement

Current and former account holders whom Chickasaw Community Bank charged certain overdraft or nonsufficient funds fees between Sept. 4, 2019, and Dec. 31, 2025, may be eligible to receive a cash payment from a class action settlement.

Chickasaw Community Bank agreed to pay $51,662 to settle a class action lawsuit alleging it improperly assessed overdraft and NSF fees on customer accounts. The plaintiff claimed Chickasaw charged some fees when customers did not actually overdraw their accounts or charged multiple fees on the same transaction.

Who is eligible for an overdraft fee settlement payout?

Class members must meet one or more of the following criteria:

• Chickasaw Community Bank charged them an overdraft fee (challenged fee) on a transaction that did not actually overdraw their account (account balance fees) between Sept. 4, 2019, and Dec. 31, 2025.
• Chickasaw charged them an overdraft or NSF fee (challenged fee) on an item the bank previously charged an NSF fee (retry fee) on between Sept. 4, 2019, and Dec. 31, 2025.

How much are settlement payments?

Pro rata cash payment: Eligible class members will receive a pro rata cash payment from the net settlement fund. The settlement administrator will determine the final payment amount by the amount of challenged fees paid and the total number of participating class members.

No claim form required

Class members do not need to submit a claim form to receive a payment.

Payout options

• Current account holders will receive an account credit
• Former account holders will receive a paper check mailed to the last known address

Settlement fund breakdown

The settlement fund will include:

• Settlement administration costs: Paid separately by Chickasaw Community Bank
• Attorneys’ fees: Up to $17,221
• Attorneys’ expenses: To be presented to court for approval at a later date
• Service award to class representative: Up to $2,500
• Checks to former account holders: Remaining $51,662 settlement fund after attorneys' fees and expenses and the service award
• Account credits to current account holders: Paid separately by Chickasaw Community Bank

Important dates

• Exclusion deadline: July 18, 2026
• Final approval hearing: Aug. 24, 2026

When is the Chickasaw Community Bank overdraft settlement payout date?

The settlement administrator will issue account credits to current account holders approximately 51 days after the court grants final approval of the settlement. It will issue checks to eligible former account holders approximately 65 days after the court grants final approval of the settlement.

Why did this class action settlement happen?

The class action lawsuit claimed Chickasaw Community Bank improperly charged certain overdraft and NSF fees, including fees on transactions that did not actually overdraw accounts and multiple fees on the same transaction.

The bank denied the allegations but agreed to settle the case to avoid the cost and uncertainty of continued litigation.

Sources

1. Class action settlement notice
2. Settlement website
3. Settlement agreement