Click Fraud Protection $5,200,000 Settlement in Fifth Third Bank ATM Fees Class Action - Tycko & Zavareei LLP
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$5,200,000 Settlement in Fifth Third Bank ATM Fees Class Action

Outcome: $5,200,000.00 Settlement

Carnell Smith v. Fifth Third Bank, Case No.: 1:18-cv-00464-DRC-SKB in the United States District Court for the Southern District of Ohio, Western Division

In this class action litigation against Fifth Third Bank, Tycko & Zavareei LLP secured a multi-million-dollar settlement for current and former Fifth Third Bank accountholders. The case, centered around the improper imposition of non-Fifth Third ATM fees for balance inquiries, has culminated with the establishment of a $5.2 million settlement fund. This fund is intended to benefit the Current Account Holders and Former Account Holders who were unfairly charged these ATM fees during the class period of January 1, 2010, to October 31, 2018. This settlement is noteworthy as it is the first of its kind to be litigated on this theory nationwide, setting a precedent for the protection of consumer rights against undisclosed and unauthorized bank fees.

The outcome of this case not only represents a substantial monetary award for the affected Fifth Third Bank customers but also signifies a broader impact on the financial industry and consumer protection standards. Despite Fifth Third’s insistence that the fee practices were well-disclosed in their Deposit Account Rules & Regulations, this settlement serves as a testament to our commitment to hold financial institutions accountable and ensure transparency in fee disclosures. This legal triumph reinforces the rights of consumers and reminds banks to maintain clear communication regarding their fee structures, fostering fairer banking practices for all.

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