Park National Bank $510,000 Overdraft Fee Settlement

Park National Bank

Park National Bank checking account holders who were charged certain overdraft fees between Nov. 1, 2016, and Feb. 20, 2025, may be eligible to receive a cash payment or account credit from a class action settlement.

Park National Bank agreed to pay $510,000 to settle a class action lawsuit alleging it improperly assessed overdraft fees on debit card transactions. Specifically, the lawsuit claimed Park National Bank charged overdraft fees on transactions that were authorized when the account had sufficient funds but settled when the account balance was negative.

Who is eligible for a Park National Bank payment?

Class members must have:

Held a checking account with Park National Bank at any time between Nov. 1, 2016, and Feb. 20, 2025
Been charged at least one overdraft fee on a debit card transaction that was authorized with a positive balance but settled with a negative balance (these are referred to as "authorized positive purportedly settled negative" or "APPSN" fees)
Been identified in Park National Bank’s records as being charged one or more APPSN fees during the class period

The settlement includes both current and former customers of Park National Bank. If class members received a notice about the settlement, it means Park National Bank’s records indicate they are a class member and may be entitled to a payment or account credit.

How much can class members receive?

Pro rata payment: The total settlement fund is $510,000. After deducting attorneys’ fees, service awards and administration costs, the remainder of the fund will be distributed among class members.

The exact amount each class member receives will depend on several factors, including the number of eligible class members and the number of qualifying authorized positive purportedly settled negative fees each person was charged. The payment amount for each class member will be proportional to the number of qualifying APPSN fees they incurred.

No claim form required to receive compensation

Class members do not need to file a claim to receive a payment or account credit. The settlement administrator will use Park National Bank’s records to determine eligibility and payment amounts. Those who received a notice are included in the settlement and will automatically receive a share unless they choose to opt out.

Payout options

Current customers will receive a credit to their account.
Former customers will receive a check mailed to their last known address.
Class members who qualify for overdraft forgiveness will receive this benefit automatically.

$510,000 overdraft fee settlement fund breakdown

The settlement fund of $510,000 covers:

Settlement administration costs: To be determined
Attorneys’ fees: Up to $169,999.83
Attorneys' costs: To be determined
Service award to class representative: $5,000
Payments to eligible class members: Remaining balance

Important dates

Exclusion deadline: Aug. 5, 2025
Final approval hearing: Sept. 5, 2025

When is the settlement payout date?

If the court approves the settlement at the final hearing, payments or credits will be issued within 60 days. If there are appeals, payments may be delayed.

Why did this class action settlement happen?

The class action lawsuit alleged Park National Bank improperly charged overdraft fees on debit card transactions that were authorized when the account had enough funds but settled with a negative balance. The plaintiff claimed this practice violated the account agreement and constituted breach of contract, breach of the covenant of good faith and fair dealing, and unjust enrichment.

Park National Bank denied any wrongdoing but agreed to settle the lawsuit to avoid the costs, risks and delays of continued litigation.