Consumer Finance Litigation

In Carol Tims v. LGE Community Credit Union, the Eleventh Circuit Court of Appeals held that a credit union’s account agreement with one of its customers was ambiguous about which account balance calculation the bank would use in assessing overdraft fees on the customer’s account, which exposed the credit union to potential liability under the Electronic Fund Transfer Act.

The matter came to the Court on appeal after the trial judge dismissed the consumer’s complaint.  The Court first addressed the history of overdraft fees, highlighting the rise of Electronic Fund Transfer ...