Extended Overdraft Fees at Center of Class Action Against BOKF, N.A.

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A Kaufman County, Texas woman alleges in a proposed class action lawsuit that defendant BOKF, National Association wrongfully assesses extended overdraft charges against customers whose accounts remain overdrawn for a period of five consecutive business days. The complaint claims that by assessing these additional fees, the defendant is unlawfully charging customers interest “for the use, forbearance, or detention of money” in excess of what is allowable under the National Bank Act. The plaintiff’s primary argument is that BOKF, N.A. allegedly charges proposed class members more money while providing no additional service:

“Unlike an initial overdraft fee, the extended overdraft fee is an additional charge to a customer for which the bank has provided nothing new,” the complaint reads. “The charge is based solely on the alleged indebtedness to the bank remaining unpaid by the customer for a period of time.”