OVERLAND PARK, Kans.—The $1-billion Mazuma Credit Union has agreed to pay $1,985,000 to settle a class action lawsuit that claimed the credit union improperly charged overdraft and non-sufficient funds (NSF) fees on specific account transactions, according to Claim Depot.
OVERLAND PARK, Kans.—The $1-billion Mazuma Credit Union has agreed to pay $1,985,000 to settle a class action lawsuit that claimed the credit union improperly charged overdraft and non-sufficient funds (NSF) fees on specific account transactions, according to Claim Depot.Mazuma is among a growing number of credit unions that have reached settlements in overdraft fee lawsuits this year.
Claim Depot noted that Missouri residents who were charged certain overdraft or nonsufficient funds fees by Mazuma Credit Union between Sept. 1, 2018, and Dec. 31, 2024, may qualify to receive a share of a $1.99 million class action settlement.
According to Claim Depot, the class action lawsuit alleged that Mazuma Credit Union improperly assessed overdraft and nonsufficient funds fees on certain transactions—such as charging fees on debit card purchases that were authorized with sufficient funds but settled when the account was overdrawn, as well as on items that had already triggered an NSF fee. While Mazuma denied any wrongdoing, the credit union agreed to settle the case to avoid the cost and uncertainty of ongoing litigation, the report said.