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Judge's gavel rests on a pile of cash. Source: Shutterstock.

U.S. District Court Judge Liam O’Grady in Alexandria, Va., granted final approval last week for a $16 million class action settlement over a non-sufficient funds fee lawsuit that affected an estimated 700,000 current and former members.

The lawsuit was brought by Navy Federal Credit Union member Ruby Lambert in January 2019 after writing a $96 check to pay an insurance bill. The Vienna, Va.-based Navy Federal rejected the payment because of insufficient funds in her account and charged Lambert a $29 NSF fee. When the insurance company resubmitted her check for payment a second time, Navy Federal charged Lambert a second $29 NSF fee.

Peter Strozniak

 

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