Bank’s Overcharging Customer Fees on Overdraft Accounts Not Covered by Professional Liability Insurance Policy and Insurer Granted Judgment in Coverage Dispute

On August 7, 2013, a federal district court in Georgia ruled a bank was not entitled to insurance coverage for a settlement entered into with customers, the plaintiffs in a class action lawsuit (the underlying suit), in which the bank settled with the plaintiffs on charges of wrongfully overcharging for overdraft fees. ¬†Fidelity Bank v. […]