* Associated Banc-Corp unit to pay $13 mln
* More than two dozen lenders sued over overdraft fees
* Bank of America settled for $410 million
Nov 28 A unit of Wisconsin lender Associated
Banc-Corp has agreed to pay $13 million to settle
consumer litigation accusing it of charging excessive overdraft
The settlement by Associated Bank NA was disclosed in a
filing on Monday with the U.S. district court in Miami, and
requires approval by U.S. District Judge James Lawrence King.
That judge oversees litigation from across the country over
the fees, in cases brought against more than two dozen U.S.,
Canadian and European lenders such as JPMorgan Chase & Co , Citigroup Inc and Wells Fargo & Co .
Earlier this month, Bank of America Corp won final
approval of a $410 million settlement of similar charges.
Union Bank, part of Japan's Mitsubishi UFJ Financial Group
Inc , reached a $35 million settlement this month,
while BOK Financial Corp , the parent of Bank of
Oklahoma, reached a $19 million accord, court records show.
In the litigation, consumers accused lenders of routinely
processing transactions from largest to smallest rather than in
This can cause account balances to fall more quickly, and
overdraft fees, typically $25 or $35, to pile up faster.
Last year, the Federal Reserve barred banks from charging
the fees on electronic and debit card transactions without
advance customer approval. Critics have said the fees
disproportionately burden customers with lower incomes or
Associated Banc-Corp is based in Green Bay, Wisconsin.
The case is In re: Checking Account Overdraft Litigation,
U.S. District Court, Southern District of Florida, No.