IF YOU HAD AN ACCOUNT WITH HILLS BANK AND TRUST COMPANY ("DEFENDANT") AND YOU WERE CHARGED AN OVERDRAFT FEE OR A NONSUFFICIENT FUNDS ("NSF") FEE BETWEEN JANUARY 2012, AND OCTOBER 9, 2020, YOU MAY BE ENTITLED TO PAYMENT
A Settlement has been reached with Hills Bank and Trust Company ("Defendant") in a class action lawsuit about overdraft and nonsufficient funds ("NSF") fees charged on accounts from January 2012 through October 9, 2020.
Who is included? Class Members are: (1) all customers of Defendant who were charged an overdraft fee on a debit card transaction from January 2012 through October 9, 2020, and, at the time the transaction was authorized, had a positive balance; and (2) all customers of Defendant who were charged more than one NSF fee on their accounts for a transaction from January 2012 through October 9, 2020, that was initially rejected for insufficient funds and later resubmitted to Defendant for payment.
What does the Settlement provide? Defendant will create a $740,000.00 Settlement Fund. The balance of the Settlement Fund will be divided proportionately among all Class Members after deducting attorneys' fees and costs, service awards to the Named Plaintiffs, and any costs to administer the Settlement in excess of the $30,000.00 that Hills Bank and Trust Company will pay. In addition, Defendant has implemented changes to disclosures that clarify its overdraft and NSF fee practices.
What are my options? If you do nothing and the Settlement is approved and becomes final, you will automatically receive an account credit (if you are a current customer of Defendant) or a check (if you are not a current customer of Defendant), and your rights will be affected. If you do not want to be legally bound by the Settlement or receive an account credit or check, you must exclude yourself from it by October 19, 2021. Unless you exclude yourself, you will not be able to sue or continue to sue Defendant for any claim made in this lawsuit or released by the Settlement Agreement. If you stay in the Settlement (do not exclude yourself), you may object to it by October 19, 2021.
The Court's Fairness Hearing. The District Court for the County of Johnson, Iowa, located at 417 South Clinton Street, Iowa City, IA 52240, will hold a hearing in this case (Clark v. Hills Bank and Trust Company, Case No. LACV080753) on January 21, 2022, at 1:30 p.m. via Zoom. Instructions on how to attend this hearing via Zoom are available here. At this hearing, the Court will decide whether to approve: (1) the Settlement; (2) Class Counsel's request for attorneys' fees (up to 33 1/3% of the Settlement Fund) and costs; and (3) a $10,000 service award to the Named Plaintiff. You or your lawyer may appear at the hearing at your own expense, but you don't have to.
Your legal rights are affected whether you act or do not act. Read the information on this website carefully.
These rights and options—and the deadlines to exercise them—along with the material terms of the Settlement are explained in this Settlement Website.