Banks Are Paying Out Billions
2026 is a banner year for bank class action settlements. Major financial institutions are paying hundreds of millions to customers they wronged.
| Settlement | Amount | Deadline |
|---|---|---|
| Capital One 360 Savings | $425 million | March 30, 2026 |
| SunTrust Overdraft Fees | $240 million | April 15, 2026 |
| Navient Student Loans | $120 million | May 1, 2026 |
| Zelle Fraud | Varies by bank | Ongoing |
SunTrust/Truist Overdraft Settlement: $240 Million
SunTrust allegedly reordered transactions to maximize overdraft fees — processing larger transactions first to drain accounts faster.
Who Qualifies
- SunTrust checking account (Jan 2010 - Dec 2023)
- Were charged overdraft fees
Estimated Payouts
| Overdraft History | Payment |
|---|---|
| Light (1-5 fees/year) | $25-100 |
| Moderate (6-15/year) | $100-400 |
| Heavy (15+/year) | $400-1,500+ |
Deadline: April 15, 2026
Capital One 360 Savings: $425 Million
Capital One paid new customers higher rates while existing customers earned less — sometimes half the advertised APY.
Who Qualifies
- Capital One 360 Savings account (Sept 2019 - June 2025)
How Much
| Account Profile | Payment |
|---|---|
| $5,000 avg, 1-2 years | $15-50 |
| $25,000 avg, 3-4 years | $100-300 |
| $100,000+ avg, 5+ years | $500-1,500+ |
No claim form required — payments automatic.
Deadline to select payment method: March 30, 2026
Navient Student Loans: $120 Million
Navient steered borrowers into forbearance instead of income-driven repayment plans and failed to properly process payments.
Cash Payments
$50-500 per borrower, depending on forbearance duration.
Loan Cancellation
Some borrowers receiving complete cancellation of private student loan balances ($1,500 - $50,000+).
Deadline: May 1, 2026
Zelle Fraud Settlements
Banks initially refused to reimburse customers tricked into sending money. After regulatory pressure, several have settled.
Bank of America Zelle — $75 Million
- Who: BofA customers denied Zelle fraud reimbursement (2017-2024)
- Deadline: June 30, 2026
Wells Fargo — $50 Million Fund
- Who: WF customers who lost money to Zelle scams (2018-2025)
- Status: Accepting claims now
What's Covered
Usually covered: Imposter scams, account takeover, fraudulent merchant transactions
Usually NOT covered: Romance scams, "too good to be true" deals
Key Deadlines
| Settlement | Deadline |
|---|---|
| Capital One 360 Savings | March 30, 2026 |
| SunTrust Overdraft | April 15, 2026 |
| Navient Student Loans | May 1, 2026 |
| Bank of America Zelle | June 30, 2026 |
Don't Miss Your Money
Bank settlements could put hundreds or thousands in your pocket. Check your eligibility, gather documentation, and file before deadlines pass.