Frequently Asked Questions (FAQs)

BASIC INFORMATION

  1. About these FAQs?

    These Frequently Asked Questions and answers summarize the lawsuit, the Settlement, your legal rights, what benefits are available, who may be eligible for those benefits, and how to get them. For a more detailed and precise explanation of your legal rights and options, you can review the Settlement Agreement.

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  2. What is the status of my payment?

    Eligible Settlement Class Members who have open Accounts at PNC Bank and are entitled to Settlement payments will receive them by account credit on April 11, 2014. Please note that some individuals with open accounts received a check with a form allowing them to exclude themselves from the settlement.

    Eligible Settlement Class Members who no longer have Accounts with PNC Bank and are entitled to Settlement payments will receive them by check. Check mailing began on April 11, 2014. Please be patient in waiting for your check to arrive.

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  3. Why was there a delay?

    There was a temporary delay in the anticipated disbursement of Settlement Awards because of a required adjustment to the class member list. This adjustment was not an appeal of the Settlement and did not affect eligible class members

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  4. Why did I receive a check or credit?

    Pursuant to the terms of the Settlement, Settlement Class Counsel and their experts determined that you were an eligible Settlement Class Member who previously incurred eligible Overdraft Fees (see Question 19).

    If your PNC Bank Account is currently open, you received an account credit on April 11, 2014. If your PNC Bank Account has been closed, a check was mailed to you. The account credit or check you received represents your portion of the Settlement.

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  5. Why didn’t I receive a check or credit?

    If you have an open PNC Bank Account, please make sure to double check your account statement and/or online banking for a credit that may have been applied by PNC Bank on April 11, 2014.

    There are two possible reasons that you did not receive a check or credit.

    Either you were identified as a Settlement Class member, but did not receive a check or credit because you were not eligible for a payment under the Settlement because your Account was closed with a negative balance and the amount of the payment that would otherwise be provided for in the Settlement was insufficient to make the balance in that Account positive.

    OR

    After the required adjustment to the class member list, it was determined that you were, in fact, not a class member in this Settlement. Although you may have received a Postcard Notice indicating otherwise, this Postcard Notice was intended to cover all potential class members that the Settlement could possibly have affected. We apologize if there was any confusion.

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  6. How was my payment calculated?

    Award calculations were done separately for each individual Settlement Class Member using that class member’s own Account and Overdraft Fee history and applying the formula set forth in the Court-approved Settlement Agreement. Not every Overdraft Fee that was charged is eligible for payment under this Settlement; in general, only those Overdraft Fees that would not have been assessed but for the high to low posting order were eligible for compensation under the Settlement. Only a small percentage of all Overdraft Fees charged to PNC Bank (see Question 19) customers were affected by high to low posting. And, of the Overdraft Fees that were eligible, only a portion or a percentage of those fees is payable to each Settlement Class Member as their pro rata share of the Net Settlement Fund.

    The Settlement Agreement is available here and describes, in detail, the calculation and allocation of Settlement Funds.

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  7. Can I dispute my award or receive more money?

    No. The deadline to object to the Settlement was April 12, 2013. The Court approved the Settlement on August 5, 2013 (see Question 27).

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  8. How do I deposit my check that says “For Deposit Only”?

    If your Settlement check is for $100.00 or more, it has a “for deposit only” restriction as a fraud prevention measure. If you are unable to deposit the Settlement check into your bank account and/or unable to cash the check at another bank or check cashing agency, you may request that a replacement check be issued to you without the ‘For deposit only’ restriction.

    To request a replacement check, please return the original check to the Settlement Administrator at PNC Bank Overdraft Settlement, PO Box 3219, Portland, OR 97208-3219, accompanied by a signed written request asking that a replacement check be issued and mailed to you. Please include an instruction that the replacement check be issued to you without the ‘For deposit only’ restriction.

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  9. How can I receive a new check if I lost mine?

    If you have lost the Settlement check, you may request that a replacement check be issued and mailed to you. To request a replacement check, you must submit a signed written request to the Settlement Administrator at PNC Bank Overdraft Settlement, PO Box 3219, Portland, OR 97208-3219, asking that a replacement check be issued and mailed to you. The replacement check will be issued and mailed to you.

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  10. How can I have my check reissued under a new name (e.g. last name change)?

    First, please go to your financial institution in which you are a current account holder as they may cash the check if the documentation regarding the status of your name change is presented.

    If your bank will not cash or deposit your check, please return the original check to the Settlement Administrator at PNC Bank Overdraft Settlement, PO Box 3219, Portland, OR 97208-3219, accompanied by a signed written request asking that a replacement check be issued and mailed to you. Please include instructions for the name that should be included on the replacement check. You do not need to provide documentation for the name change.

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  11. When will my check be reissued?

    The check will be reissued within 3 to 4 weeks after the Administrator receives the written request and any required supporting documents.

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  12. Can you update my address and re-mail my check?

    Yes. Please send a letter requesting a reissuance of your check, which includes your former and current mailing addresses to PNC Bank Overdraft Settlement, PO Box 3219, Portland, OR 97208-3219.

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  13. What do I do if the person on the check is deceased?

    First, please go to your financial institution in which you are a current account holder as they may cash/deposit the check if documentation regarding the status of the account holder and your status as the beneficiary/executor is presented.

    If your Settlement check is for $100.00 or greater and your bank will not cash the check, please return the original check to the Settlement Administrator, along with a letter of instruction, proof of beneficiary/executor and proof of death of the person named on the check (i.e., copy of death certificate).

    If your Settlement check is for an amount less than $100.00 and your bank will not cash the check, please return the original check to the PNC Bank Overdraft Settlement, PO Box 3219, Portland, OR 97208-3219, along with a request letter, signed under penalty of perjury, declaring that you are lawfully designated to receive the funds on behalf of the deceased class member.

    Please send the original check, written reissue request and any supporting documentation to PNC Bank Overdraft Settlement, PO Box 3219, Portland, OR 97208-3219.

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  14. What do I do if the person on the check is now under guardianship/gave me power of attorney?

    First, please go to your financial institution in which you are a current account holder as they may cash/deposit the check if documentation regarding the status of the claimant and your status as the guardian/power of attorney is presented.

    If your Settlement check is for $100.00 or greater and your bank will not cash the check, please return the original check to the PNC Bank Overdraft Settlement, PO Box 3219, Portland, OR 97208-3219, along with a letter of instruction and proof of guardianship or power of attorney.

    If your check is for an amount less than $100.00 and your bank will not cash the check, please return the original check to the PNC Bank Overdraft Settlement, PO Box 3219, Portland, OR 97208-3219, along with a letter, signed under penalty of perjury, declaring that you are lawfully designated to receive the funds on behalf of the class member.

    Please send the original check, written reissue request and any supporting documentation to PNC Bank Overdraft Settlement, PO Box 3219, Portland, OR 97208-3219.

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  15. Can I request a check instead of an account credit?

    No. The Settlement Agreement specifies what categories of Settlement Class Members received an account credit or a mailed check. In general, Settlement Class Members who no longer have an Account received a mailed check, and Settlement Class Members who currently have an Account received an account credit.

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  16. What is this lawsuit about?

    This case is captioned as In re: Checking Account Overdraft Litigation, 1:09-md-02036-JLK. Senior Judge James Lawrence King, of the U.S. District Court for the Southern District of Florida, is overseeing this case. The people who sued are called the “Plaintiffs.” The defendant is PNC Bank.

    The lawsuit concerns whether PNC posted Debit Card Transactions in order from highest to lowest dollar amount to maximize the number of overdraft fees assessed to its customers. The lawsuit claims that, instead of declining Debit Card Transactions initiated by the Account Holder when an Account had insufficient funds to cover a purchase, PNC authorized the transactions and then processed them in highest to lowest dollar order, which in some instances had the effect of increasing the number of overdraft fees the bank charged its customers. The Complaint in the lawsuit contains all of the allegations and claims asserted against PNC.

    PNC maintains there is no one posting order that always benefits the customer; that, in many instances, a high-to-low method helps the customer by paying important items, such as mortgage payments, that might otherwise be returned without payment; and that, therefore, there was nothing wrong about its approval of transactions or the posting process it used.

    The Court has not decided which side is right.

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  17. What is an overdraft fee?

    An overdraft fee is any fee assessed to an Account for items paid when the Account has insufficient funds to cover the items. This litigation concerns only fees assessed on overdrafts of Debit Card Transactions. Also, fees charged to transfer balances from one Account to another under an overdraft protection plan are excluded.

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  18. Why is this a class action?

    In a class action, one or more people called “Class Representatives” (in this case, five PNC customers who were assessed overdraft fees) sue on behalf of themselves and other people with similar claims. Together, all the people with similar claims (except those who exclude themselves) are members of a “Settlement Class” and are called “Settlement Class Members”.

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  19. Why is there a settlement?

    The Court has not decided in favor of the Plaintiffs or PNC. Instead, both sides have agreed to a settlement. By agreeing to the Settlement, the Parties avoid the costs and uncertainty of a trial, and Settlement Class Members receive the benefits described in the Settlement Agreement. The proposed Settlement does not mean that any law was broken or that PNC did anything wrong. PNC denies all legal claims in this case. Class Representatives and their lawyers think the proposed Settlement is best for everyone who is affected.

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WHO IS IN THE SETTLEMENT

  1. How do I know if I am part of the Settlement?

    If you received notice of the Settlement by a postcard addressed to you, then you are a Settlement Class Member. But even if you did not receive a postcard, you may be a Settlement Class Member, as described below.

    You are a member of the Settlement Class if you:

    • Had a PNC consumer deposit Account that you could access with a PNC Debit Card anytime between January 1, 2004, and August 15, 2010 (the “Class Period”); and

    • Were charged two or more overdraft fees for Debit Card Transactions posted to your Account on a single day during the Class Period listed above, at least one of which was caused by PNC’s practice of posting Debit Card Transactions from highest to lowest dollar amount.

    • If you had an Account with a bank that merged into PNC during the Claims Period and your Account was converted into a PNC Account, overdraft fees you paid to your prior bank may be covered by the Settlement, but to recover any money from these overdrafts you must submit a claim. For former National City Bank customers whose Accounts were converted to PNC Accounts, the Settlement only covers overdraft fees assessed to these Accounts on or after June 22, 2010, through August 15, 2010.

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THE SETTLEMENT’S BENEFITS—WHAT YOU GET IF YOU QUALIFY

  1. What does the Settlement provide?

    PNC will pay $90,000,000 to a Settlement Fund to make payments to eligible Settlement Class Members, as well as to pay for attorneys’ fees, costs, and expenses and special service payments to the five Class Representatives who prosecuted the lawsuit. PNC has also agreed to change, for a period of at least three years, the order in which it posts Debit Card Transactions for consumer Accounts to a time ordered posting method. Finally, PNC has agreed to pay costs associated with administering the Settlement. If there are any funds remaining in the Settlement Fund after payments are made to Settlement Class Members, all remaining funds will be distributed to a nonprofit organization or organizations agreed upon by Class Counsel and PNC and approved by the Court.

    The Settlement Agreement. provides precise and more detailed explanations of the benefits to members of the Settlement Class.

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  2. How do I receive a payment?

    Payments will be calculated in two ways, depending on the dates overdraft fees were charged to your PNC Account. Payments will be made either by mailed check or as an automatic credit to your PNC consumer deposit account or predecessor bank account.

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  3. What am I giving up to stay in the Settlement Class?

    Unless you exclude yourself from the Settlement, you cannot sue PNC, or be part of any other lawsuit against PNC about the issues in this case. Unless you exclude yourself, all of the decisions by the Court will bind you. The Settlement Agreement. describes the claims that you give up if you remain in the Settlement.

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  4. How do I get out of the Settlement?

    If you received a Check Stub with language regarding excluding yourself from the settlement, in order to exclude yourself, you must sign the Check Stub where indicated and mail it, along with the undeposited check, to PNC Overdraft Settlement, PO Box 3219, Portland, Oregon 97208-3219 by the date provided on the form.

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THE LAWYERS REPRESENTING YOU

  1. Do I have a lawyer in the case?

    The Court has appointed a number of lawyers to represent all Settlement Class Members as “Settlement Class Counsel". They include:

    Bruce S. Rogow, Esq.
    BRUCE S. ROGOW, P.A.
    Broward Financial Center
    500 East Broward Blvd
    Suite 1930
    Fort Lauderdale, FL 33394
    Aaron S. Podhurst, Esq.
    PODHURST ORSECK, P.A.
    25 West Flagler St
    Suite 800
    Miami, FL 33130
    Robert C. Gilbert, Esq.
    GROSSMAN ROTH, P.A.
    2525 Ponce de Leon Blvd
    11th Floor
    Coral Gables, FL 33134
    E. Adam Webb
    WEBB, KLASE & LEMOND, L.L.C.
    1900 The Exchange SE
    Suite 480
    Atlanta, GA 30339

    You will not be charged for contacting these lawyers. If you want to be represented by your own lawyer, you may hire one at your own expense.

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  2. How will the lawyers be paid?

    The Court held a final approval hearing on August 1, 2013 at the United States District Court for Southern District of Florida, Miami Division, located at James Lawrence King Federal Justice Building, 99 Northeast Fourth Street, Miami, FL 33132. At this hearing the Court considered whether the Settlement was fair, reasonable, and adequate. The Court also considered the request by Class Counsel for attorneys’ fees and expenses.

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OBJECTING TO THE SETTLEMENT

  1. How do I tell the Court if I do not like the Settlement?

    It is no longer possible to object to the Settlement. All timely objections must have been submitted no later than April 12, 2013.

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  2. The Court’s Final Approval Hearing

    The Court held a final approval hearing on August 1, 2013 at the United States District Court for Southern District of Florida, Miami Division, located at James Lawrence King Federal Justice Building, 99 Northeast Fourth Street, Miami, FL 33132. At this hearing the Court considered whether the Settlement was fair, reasonable, and adequate. The Court also considered the request by Class Counsel for attorneys’ fees and expenses.

    After the hearing, the Court considered the Settlement is fair, reasonable, and adequate. The Court also considered and approved the request by Class Counsel for attorneys’ fees and expenses. If there are objections, the Court considered them at that time.

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GETTING MORE INFORMATION

  1. How do I get more information?

    For a complete, definitive statement of the Settlement terms, refer to the Settlement Agreement . You also may write with questions to the Settlement Administrator at PNC Overdraft Settlement, PO Box 3219, Portland, Oregon, 97208-3219 or call, toll-free, at 1-877-264-9597.

    DO NOT CONTACT PNC BANK OR THE COURT FOR INFORMATION.

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