Client Arbitrations Against Renasant Bank for Unfair Overdraft Fees
Clients could reclaim their fees (and more) through arbitration
Client Arbitrations Against Renasant Bank for Unfair Overdraft Fees
Shamis & Gentile, P.A. is accepting qualified clients to bring claims against Renasant Bank for their allegedly unfair overdraft and NSF (Non-Sufficient Fund) practices which have cost customers millions of dollars. We are pleased to offer qualified clients the opportunity to bring claims against Renasant Bank for their immoral and sometimes illegal practices.
It is our understanding that many consumers have been unfairly charged exorbitant overdraft fees by the bank over the years, and besides being unethical and potentially illegal, this has also contributed to many families and individuals losing their hard earned money.
At Shamis & Gentile, P.A., you can count on us to fight on your behalf, and we are both experienced and passionate about securing your rightful compensation, thus helping you reclaim the money that belongs to you, as well as any potential damages and other compensation you might be eligible for.
We are an established law firm with professional attorneys. In the past we have successfully represented clients in similar cases, and our goal is to always ensure justice is being served, holding these large banks accountable for the potential fraud or misuse of their position in the community.
To make it even easier for you as an individual, we offer our services on a contingency basis, meaning that you can seek justice for yourself without having to worry about the financial burden of litigation. And to further increase your chances of success, we also work with mass arbitration lawsuits that gather many affected parties such as yourself, and thus provide even more evidence and support for your case.
We believe that consumers have the right to fair and transparent banking practices, and we will work tirelessly to ensure that Renasant Bank is held responsible for any wrongdoing. If you have been a victim of unfair overdraft fees by Renasant Bank, we encourage you to contact our law firm to discuss your legal options.
Investigations into Renasant Bank and unfair overdraft fees
Renasant Bank is an established bank that was founded back in 1904, and today has grown into running close to 200 branches across various states in the country.
However, Renasant has been making headlines since at least 2010 when it comes to unfair overdraft fees. Back then the company was being investigated by a law firm, although the case never seemed to manifest into an actual lawsuit.
We are always interested in hearing from customers of Renasant bank and to help identify potential unfair overdraft fees. If you believe this might have happened to you, please contact our professionals for a consultation and review of your account. You might be eligible for compensation.
Submit Arbitration Claim with Shamis & Gentile, P.A.
Shamis & Gentile, P.A. is accepting qualified clients to bring claims against Renascent Bank for their allegedly unfair overdraft and NSF (Non-Sufficient Fund) practices which have cost customers millions of dollars. We are pleased to offer qualified clients the opportunity to bring claims against Renascent Bank for their immoral and sometimes illegal practices.
Is mass arbitration the same as class action?
No. Mass arbitration and class action are similar in that they both involve a group of individuals pursuing a legal claim against a company.
A class action lawsuit is a single lawsuit that is filed on behalf of many individual members. All of whom have been affected by the actions of the company in question. Whatever the conclusion of the case might be, this result will then apply to all members of the class action, and any potential compensation will be distributed among the members as well.
In the case of mass arbitration, each individual member of the group pursues their own arbitration claim against the company. The arbitration process is similar to a trial (as mentioned above), but it takes place outside of the traditional court system and is generally faster and less expensive than a court trial.
As opposed to a class action lawsuit, the results of each individual arbitration claim are separate, and can therefore vary depending on the specifics of each case.
What is reordering in terms of overdraft fees?
Not all overdraft fees are unfair for the same reasons. In recent years more and more banks have been suspected of reordering their customers’ transactions in order to obtain more fees.
This practice of reordering is what happens when a bank chooses to process a customers’ transactions in a different order than they occurred, which can result in higher overdraft fees for consumers.
Imagine that a consumer has $500 in their checking account and makes three transactions in one day. The first is a $10 coffee purchase, then a $50 grocery store purchase, and finally a $600 car repair bill. If the bank processes these transactions in the order that they occurred, the consumer will only overdraw their account on the third transaction and may be charged one overdraft fee.
However, if the bank uses reordering and processes the $600 car repair bill first, the account will be overdrawn on all three transactions, resulting in three overdraft fees. This practice has been the subject of numerous class action lawsuits, with some judges ruling that it is unfair and deceptive under consumer protection laws.
What should I do if I suspect my bank charges unfair overdraft fees?
One of the most important things you can do is to gather as much evidence as possible. You should keep copies of everything relating to the overdraft fees themselves, as well as any communication you might have had with the bank when discussing this.
It is preferable to get their replies in written form, so if possible consider sending them an email rather than ringing them up on the phone. This way you can refer to their own statements in court, and thus improve your chances tremendously.
Once you have gathered your evidence, the next step would be to contact us. We can help you identify any potential issues, and let you know how strong of a potential case you have.
What can reordering mean for me?
Reordering can have a significant impact on consumers, particularly those who live paycheck to paycheck or have limited financial resources. By charging multiple overdraft fees, banks can effectively increase the cost of transactions and cause financial hardship for consumers.
Can I still participate in a class action lawsuit against Renasant Bank if I no longer have an account with them?
Most likely. Depending on the time that has passed since you had an account at Renasant Bank, you might still be eligible to participate in a class action lawsuit. It does still require that you were unfairly charged overdraft fees during the time you had an account with the bank.
How long will it take to resolve a mass arbitration lawsuit against Renasant Bank?
The length of time it takes to resolve a mass arbitration lawsuit can vary depending on the complexity of the case, the number of parties involved, and other factors. Some cases may be resolved within a few months, while others may take several years to reach a final resolution.
How do I get started with a claim against Renasant Bank for unfair overdraft fees?
To get started, contact us today and schedule a consultation with one of our experts. We will then evaluate your claim, advise you on your legal options, and help you pursue the compensation you deserve.
About Shamis & Gentile
Shamis & Gentile, P.A. has and continues to provide outstanding legal services in the Florida, Georgia, Ohio, Arizona, Illinois, New York and Texas communities. Our seasoned attorneys are some of the most innovative and progressive attorneys in the profession. Shamis & Gentile, P.A. has the resources, infrastructure and staff to successfully represent large putative classes. The attorneys and staff are not simply litigators, but directors of creating successful results with the ultimate level of satisfaction by the clients.