Tuesday, December 28, 2010

Is It Schadenfreude To Be Happy About This?

I received this in the mail today.

IF I paid overdraft fees? I realize the operative word here is "could" receive a payment but this is excellent news.

According to the postcard, Fifth Third "re-sequenced" transactions in order to maximize overdraft fees. I'm not exactly sure what that means and the card doesn't spell it out. I'm guessing it means they delayed transactions to make sure there would be fees assessed. I've long suspected that's part of what happened to me in October 2009. In addition to the unexplained delay in posting a deposit, they made sure I got socked with fee upon fee upon fee. Of course, Fifth Third denies all claims.

Yes, I will be filling this out and sending it in. The account period is from October 21, 2004 through July 1, 2010.

Even a little cash is better than none. "Payments to Settlement Class Members will be up to three times the Overdraft Fees they paid during a continuous 45 day period." That will cover October 2009. I still have all my paperwork, too.

Realistically, by the time the lawyers fees get taken out of something like this, the pool of eligible people has to be kind of small to realize anything more than a few bucks. But, for me, it's about a victory of sorts. I was right. They were doing something not kosher. They may argue they did nothing wrong, but there must be a lot of us out there for something like this to be settled.

This is a good way to end the year, the prospect of being vindicated in how they treated me.

Beverage:  Huckleberry tea


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