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Commonly Asked Questions


DISTRIBUTION

What is the current status of the case?

Answer:

The Effective Date of the Settlement was June 27, 2014.  Distribution of awards via an account credit or award check is now complete.  Account credits were issued on July 11, 2014, and award checks were mailed on July 25, 2014.  Award checks were mailed in the form of a postcard check.

Where can I cash my check?

Answer:

The postcard check format is a valid check type and should be able to be cashed at any bank or check cashing establishment, subject to their rules and policies. If you are not a current account holder at a particular bank, that bank may not allow you to cash a check that is not drawn on that bank.  If you are experiencing issues cashing your check, you may take the check to any branch of U.S. Bank, which is the issuing bank.

How can I get a misplaced/lost check replaced?

Answer:

If you have lost or misplaced your settlement check, you may contact the Settlement Administrator by writing to Woodforest Overdraft Settlement, P.O. Box 3097, Faribault, MN 55021-2697. All check reissue requests must be made by April 21, 2015.  The Settlement Administrator will verify it has not been cashed, stop payment, and then reissue the check.   Checks will be reissued within 3-4 weeks after the Administrator receives your written request.

How can I get a damaged check replaced?

Answer:

If your check was damaged during mailing or when you opened it, you may contact the Settlement Administrator by writing to Woodforest Overdraft Settlement, P.O. Box 3097, Faribault, MN 55021-2697. All check reissue requests must be made by April 21, 2015.  The Settlement Administrator will review your record, verify that the original check has not been cashed, stop payment on the original check, and then reissue the check to you. Replacement checks will be issued within 3-4 weeks after the Administrator receives your request.

How was my award calculated?

Answer:

Calculations for each individual Settlement Class Member used that Class Member’s own account and overdraft fee history and applied the formula set forth in the Court-approved Settlement Agreement.
Not all overdraft fees are eligible to be included in the calculation of an award under the terms of the Settlement, and of the fees that are eligible, the individual is paid a portion or percentage of those fees. The formula to determine which fees are eligible to be included in the calculation of an award and how the percentage is calculated is located in the Settlement Agreement, under Section XII.  A complete copy of the Settlement Agreement, including Section XII, is posted under the Court Documents tab of this Settlement Website.

I have not received a Settlement credit or check yet.  What is the status of my payment?

Answer:

The distribution of the Settlement payments by account credit for most current customers and by mailed check for former customers and some current customers was completed on or before July 25, 2014.

If you have not received your check by August 22, 2014, you may request that your status be researched by writing to the Settlement Administrator at Woodforest Overdraft Settlement, P.O. Box 3097, Faribault, MN 55021-2697.

Can Settlement Class Members request a check instead of an account credit?

Answer:

No. The Settlement Agreement specifies what categories of Settlement Class Members will receive an account credit or a mailed check. In general, Settlement Class Members who no longer have an account will receive a mailed check, and Settlement Class Members who currently have an account will receive an account credit.

How will I know if I receive an account credit?

Answer:

Account credits were  applied on or before July 11, 2014. An account credit was made to the accounts of those Settlement Class Members who are entitled to a payment from the Settlement and who currently have an open and active account. The credit should appear on the account statement for the July 11, 2014, statement cycle.

How will I receive payment from the Settlement if I have had multiple accounts with Woodforest  and some of the accounts are now closed but some accounts are still open and active? What if I have multiple closed accounts or multiple open accounts?

Answer:

Accounts were reviewed individually to determine whether, in light of the overdraft activity in the account during the Class Period and application of the allocation formula set forth in the Court-approved Settlement Agreement, the holder of the account qualified for a payment from the Settlement. Settlement Class Members will receive an account credit in each currently open and active account that qualified for a payment from the Settlement. Settlement Class Members will receive one check mailed from the Settlement Administrator for each closed account that qualified for a payment from the Settlement.

When can I expect to receive my payment?

Answer:

Distribution of the Settlement “payments” by account credit for most current customers or by mailed check for former customers and some current customers was completed on July 25, 2014.

What is the timeframe to request a reissued check?

Answer:

You can contact the Settlement Administrator for a check reissue  before April 21, 2015, by writing to the Settlement Administrator at Woodforest Overdraft Settlement, P.O. Box 3097, Faribault, MN 55021-2697. Any reissued checks must be cashed by July 20, 2015, and will be void if not cashed by that date.

When will my check be reissued?

Answer:

Checks will be reissued within 3-4 weeks after the Administrator receives your written request.

My name changed, because I got married/divorced. Can I still use the check?

Answer:

Yes. Please go to your financial institution in which you are a current account holder first as they may cash the check if documentation regarding the status of your name change is presented.  If your bank will not cash the check, please void it and return it to the Settlement Administrator, along with a letter of instruction and proof of your name change (e.g., a copy of your marriage certificate). Please send the voided check, written reissue request and any supporting documentation to Woodforest Overdraft Settlement, P.O. Box 3097, Faribault, MN 55021-2697.  All check reissue requests must be made by April 21, 2015.

I recently moved and believe the payment was mailed to my old address. Can you update my address and re-mail my check?

Answer:

Yes. Please send a letter requesting a reissuance of your check which includes your former and current mailing addresses to Woodforest Overdraft Settlement, P.O. Box 3097, Faribault, MN 55021-2697.  All check reissue requests must be made by April 21, 2015.

The person listed on the check is deceased. What do I do?

Answer:

Please go to your financial institution in which you are a current account holder  first as they may cash the check if documentation regarding the status of the account holder and your status as the beneficiary/executor is presented.

If your bank will not cash the check, please void it and return it to the Settlement Administrator, along with a letter of instruction and proof of beneficiary/executor. This would include a copy of the death certificate. If you are listed as the surviving spouse on the death certificate, this is all the evidence the Settlement Administrator will need to reissue the check to you.

If you are NOT listed on the death certificate, we need a copy of the court documents that list you as the estate executor or equivalent.

Please send the voided check, written reissue request and any supporting documentation to Woodforest Overdraft Settlement, P.O. Box 3097, Faribault, MN 55021-2697.  All check reissue requests must be made by April 21, 2015.

The claimant is now under guardianship/has given me power of attorney.  What do I do?

Answer:

Please go to your financial institution in which you are a current account holder first as they may cash the check if documentation regarding the status of the claimant and your status as the guardian/power of attorney is presented.
       

If your bank will not cash the check, please void it and return it to the Settlement Administrator, along with a letter of instruction and proof of guardianship/power of attorney.
       

Please send the voided check, written reissue request and any supporting documentation to Woodforest Overdraft Settlement, P.O. Box 3097, Faribault, MN 55021-2697.  All check reissue requests must be made by April 21, 2015.

BASIC INFORMATION

Why is there a Notice?

Answer:

A Court authorized this Notice because you have a right to know about a proposed Settlement of this class action lawsuit and about all of your options before the Court decides whether to give Final Approval to the Settlement.  This Notice explains the lawsuit, the Settlement, and your legal rights.

Judge Charles A. Pannell of the United States District Court for the Northern District of Georgia is overseeing this Settlement.  The litigation is known as Lunsford v. Woodforest National Bank, et al., No. 1:12-cv-103-CAP (N.D. Ga.).  The people who sued are called the “Plaintiffs.”  Woodforest is the “Defendant.”

What is this litigation about?

Answer:

The litigation principally concerns Woodforest’s practice and/or process of posting Debit Card Transactions each day in order of highest to lowest dollar amount, which may result in the assessment of additional Overdraft Fees that would not have been assessed if Woodforest had used other posting, sequencing, or processing methods (for example, posting transactions each business day from lowest to highest, or in chronological order or random order).  These practices (and others) are referred to as “Debit Re-Sequencing Overdraft Practices.” 

 The lawsuit claims that, instead of declining transactions when an Account had insufficient funds to cover a purchase, Woodforest authorized the transactions and then processed them in accordance with its Debit Re-Sequencing Overdraft Practices, which may have had the effect of increasing the number of Overdraft Fees the bank charged its customers. 

 The complaint in the lawsuit is posted under Court Documents and contains all of the allegations and claims asserted against Woodforest.  Woodforest maintains there was nothing wrong about its approval of transactions the Debit Re-Sequencing Overdraft Practices used, or the Overdraft Fees assessed. 

What is an Overdraft Fee?

Answer:

An Overdraft Fee is any fee assessed to an Account when paying an item at a time the Account has insufficient funds to cover the item.  Fees charged to transfer balances from other Accounts are excluded.

Why is this a class action?

Answer:

In a class action, one or more people called “Class Representatives” (in this case, two Woodforest customers who were assessed Overdraft Fees) sue on behalf of themselves and other people with similar claims.  Together, all the people with similar claims (except those who exclude themselves) are members of a “Settlement Class.”

Why is there a Settlement?

Answer:

The Court has not decided in favor of the Plaintiffs or Woodforest.  Instead, both sides have agreed to a Settlement.  By agreeing to the Settlement, the Parties avoid the costs and uncertainty of a trial, and Settlement Class Members receive the benefits described in this Notice.  The proposed Settlement does not mean that any law was broken or that Woodforest did anything wrong.  Woodforest denies all legal claims in this case.  Class Representatives and their lawyers think the proposed Settlement is best for everyone who is affected.

Who is included in the Settlement?

Answer:

You are a member of the Settlement Class if you:

·                     Had a Woodforest deposit Account that you could access with a Woodforest Debit Card during the applicable Class Period; and

·                     Were charged one or more Overdraft Fees as a result of Woodforest’s Debit Re-Sequencing Overdraft Practices.

 The applicable Class Period is the period from January 11, 1997 through December 30, 2013 for Kentucky and Ohio Settlement Class Members, the period from January 11, 2002 through December 30, 2013 for Illinois, Indiana, Louisiana, and West Virginia Settlement Class Members, the period from January 11, 2006 through December 20, 2013 for Alabama, Georgia, and New York Settlement Class Members, the period from January 11, 2007 through December 20, 2013 for Florida and Virginia Settlement Class Members, the period from January 11, 2008 through December 30, 2013 for Pennsylvania and Texas Settlement Class Members, and the period from January 11, 2009 through December 30, 2013 for Maryland, Mississippi, North Carolina, and South Carolina Settlement Class Members.  For each Account, the relevant state for purposes of determining the applicable Class Period is either the state in the accountholder’s current or most recent address as reflected in Woodforest’s files, or the state in which the Woodforest branch connected to the Account is located, whichever has the longer potentially applicable statute of limitations.  However, if the state in the accountholder’s current or most address is not one of the 17 states mentioned earlier, then the relevant state is automatically that of the Woodforest branch connected to the Account, Additional information about determining the relevant state is set forth in the Amended Settlement Agreement.

To be included in the Settlement Class, you must have had one or more Overdraft Fees caused by debits posted to your Account on a single day during the Class Period and meet other criteria for membership in the Settlement Class set forth in the Amended Settlement Agreement.

What if I am not sure whether I am included in the Settlement?

Answer:

If you are not sure whether you are in the Settlement Class, or have any other questions about the Settlement, visit this website or call the toll free number, 1-866-880-0214.  You may also send questions to the Settlement Administrator at info@WoodforestOverdraftSettlement.com or to the address below: 

Woodforest Overdraft Settlement
P.O. Box 3097
Faribault MN 55021-2697

THE LAWYERS REPRESENTING YOU

Do I have a lawyer in the case?

Answer:

The Court has appointed a law firm to represent all Settlement Class Members as “Class Counsel.”  They are:

E. Adam Webb, Esq.
G. Franklin Lemond, Jr., Esq.
WEBB, KLASE & LEMOND, LLC
1900 The Exchange, S.E.
Suite 480
Atlanta, GA 30339

You will not be charged for contacting these lawyers.  If you want to be represented by your own lawyer, you may hire one at your own expense.

How will the lawyers be paid?

Answer:

Class Counsel requested 33 percent of the $7.75 million Settlement Fund for attorneys’ fees, plus reimbursement of the costs and expenses of prosecuting the class action.  The fees and expenses awarded by the Court were paid out of the Settlement Fund.  The Court will decided the amount of fees to award.  Class Counsel also requested that special service payments of $5,000 each be paid from the Settlement Fund to the two Class Representatives for their service as representatives in prosecuting the Action on behalf of the Settlement Class.

GETTING MORE INFORMATION

How do I get more information?

Answer:

This Notice summarizes the proposed Settlement.  More details are in the Amended Settlement Agreement.  For a complete, definitive statement of the Settlement terms, refer to the Amended Settlement Agreement under Court Documents.  You also may write with questions to the Settlement Administrator at Woodforest Overdraft Settlement, P.O. Box 3097 Faribault MN 55021-2697 or call the toll-free number, 1-866-880-0214.

Disclaimer

Please do not contact Woodforest, its counsel, or the Court with questions about this Settlement.  Any and all callers will be directed to this website.  If you have questions, please refer to the FAQs and other information posted here, or contact the Settlement Administrator by calling 1-866-880-0214 or writing to Woodforest Overdraft Settlement, P.O. Box 3097, Faribault, MN  55021-2697.

This site is not operated by Woodforest.  This class action Settlement is supervised by the Court and is administered by an administration firm that handles all aspects of claims processing.  Woodforest and its counsel are not authorized to respond to questions from members of the Settlement Class regarding the Settlement.

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