Country Bank for Savings $495K Fees Class Action Settlement

Individuals who held a consumer deposit account with Country Bank for Savings and whom the bank charged certain overdraft or nonsufficient funds fees between March 12, 2019, and Dec. 31, 2025, may be eligible to receive a cash payment from a class action settlement.

Country Bank for Savings agreed to pay $495,000 to resolve a class action lawsuit alleging it improperly assessed certain overdraft and NSF fees. The lawsuit claims the bank charged fees on items that already incurred an NSF fee (retry fees) and on transactions that did not actually overdraw the account (account balance fees).

Who are the class members?

The settlement considers individuals as class members if they meet all of the following criteria:

• They held a consumer deposit account with Country Bank for Savings at any time between March 12, 2019, and Dec. 31, 2025
• Country Bank charged and did not refund or credit one or more retry or account balance fees.

The settlement administrator identified class members based on the bank’s records. If a person received a notice by mail or email about this settlement, they are included in the class.

How much can class members get?

The total settlement fund is $495,000. After deducting attorneys’ fees and costs, notice and administration expenses, and service awards to the class representatives, the settlement administrator will distribute the remaining amount to class members.

It will calculate each class member’s payment on a pro rata basis, meaning the amount the class member receives depends on the total amount of challenged fees they paid compared to the total all class members paid. The formula is:

• Class member’s payment = (total challenged fees class member paid / total challenged fees all class members paid) × net settlement fund

No class member will receive more than the total amount of challenged fees they paid, and most will receive less.

The settlement administrator will donate any remaining funds after it makes all payments to the Massachusetts IOLTA Committee.

No claim form needed to receive payment

Class members do not need to submit a claim form or take any action to receive their payment.

If their address changed since holding their account, they should contact the settlement administrator to update their information to ensure payment.

Settlement administrator’s mailing address: Kimball v. Country Bank for Savings Settlement Administrator, P.O. Box 301172, Los Angeles, CA 90030-1172

Payout options

• If a class member currently has an open account with Country Bank for Savings, they will receive a credit directly to their account.
• If the account is closed, the class member will receive a check by mail.
• If an account credit fails, the class member will receive a check by mail.

$495,000 settlement fund breakdown

The $495,000 settlement fund covers:

• Settlement administration costs:To be determined
• Attorneys’ fees: Up to $165,000
• Attorneys’ expenses: To be determined
• Service awards to class representatives: Up to $5,000 each ($10,000 total)
• Payments to approved class members: Remainder of the settlement fund

Important dates

• Final approval (fairness) hearing: Aug. 11, 2026

When is the Kimball v. Country Bank for Savings payout date?

The settlement administrator will distribute payments after the court resolve any appeals and grants final approval of the settlement.

Why did this class action settlement happen?

The class action lawsuit alleges Country Bank for Savings improperly assessed certain overdraft and NSF fees.

The bank denies any wrongdoing, but both sides agreed to settle to avoid the expense and uncertainty of continued litigation. As part of the settlement, Country Bank for Savings will also review and, if necessary, update its disclosures to accurately reflect its fee assessment practices.

Sources

1. Class notice
2. Settlement agreement
3. Important dates
4. Settlement FAQ