At Goldenberg Heller & Antognoli, we take pride in counseling financial institutions through each step of their business, transactional, and litigation needs.  Recently, a national bank found itself named as a defendant in a class action lawsuit alleging it was improperly assessing overdraft fees on debit card transactions.  These types of lawsuits have become common across the country, and many survive initial motions to dismiss, leading financial institutions to choose between lengthy and expensive litigation or costly class action settlements.

In this case, the bank hired GHA to defend it, and attorneys Tom Rosenfeld and Tom Horscroft, who have years of experience representing clients in complex commercial litigation and class actions, quickly got to work.  After consulting with the bank and carefully reviewing the terms of the bank’s deposit agreement, the allegations in the lawsuit, and the case law, GHA prepared a motion to dismiss the plaintiff’s claims.  GHA’s motion attacked multiple flaws in the plaintiff’s allegations and explained why the plaintiff’s claims should be defeated by, among other things, relevant language in the deposit agreement and by federal law.

The Court considered GHA’s written briefs accompanying the motion to dismiss, as well as the plaintiff’s opposition to the motion, which highlighted the many cases denying motions to dismiss lawsuits challenging overdraft fees.  Mr. Horscroft also argued on behalf of the bank at the hearing on the motion.  After considering the briefs and oral arguments of the parties, the Court issued its order granting the bank’s motion to dismiss the case.

For financial institutions looking for assistance navigating the complexities of banking law, business law, transactions, or litigation, Goldenberg Heller & Antognoli, P.C. has a team of skilled attorneys ready to help.  Feel free to contact us with your legal needs today.