Philadelphia, PA: (Jun-22-07) A class action lawsuit was filed against First Union National Bank, alleging that its corporate predecessors and corporate successors, collectively known as First Union, inappropriately charged surcharges and foreign fees to its customers who used unbranded ATMs owned or operated by First Union. The suit, filed in the Court of Common Pleas, Philadelphia County, included anyone who had made a cash withdrawal from an unbranded automated teller machine from July 1996 to 2002 at certain locations and were a customer of First Union National Bank inclusive in the class.
In a settlement agreement reached, a fund of $1.35 million for payment of claims and expenses has been created. Attorney's fees and litigation and settlement administration costs will be paid out of this fund upon court approval. Any money remaining in this fund after all class member claims have been processed for payment will be donated to charitable institutions to be used for community improvement service programs such as financial literacy programs approved by the court. [PR NEWSWIRE: ATM FEES]
