July 9, 2018 / 9:38 PM / 12 days ago

Flagstar customers lose overdraft fee dispute at 6th Circuit

A federal appeals court has declined to revive a proposed class action accusing Michigan-based Flagstar Bank of manipulating transactions in order to inflate overdraft fees charged to customers.

The 2015 lawsuit filed in federal court in Detroit accused Flagstar of violating account agreements stating it would post transactions in the order they occurred. Flagstar instead held electronic transactions such as automated bill payments and reordered them, causing overdrafts even when customers had ample money in their accounts, the lawsuit said.

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