NEW ORLEANS – A serial plaintiff in ATM fee suits has filed 16 new actions over the past four weeks alleging credit unions and banks have violated provisions of the Electronic Funds Transfer Act, just as Congress is closing in on legislation that would make those suits impossible.
The latest suits, including actions brought last Friday against La Capitol FCU and Feliciana FCU, make a total of 52 EFTA suits filed by Don Anderson, who has emerged as the most prolific ATM vigilante, topping a Michigan retiree couple who have initiated 48 such suits against credit unions and banks.
But the latest flurry appears to be aimed at beating new legislation that would eliminate the on-machine fee disclosure required under the EFTA, making the on-screen disclosure sufficient to warn consumers of the fees charged non-customers of the credit union and bank. “It sure looks like that,” said one credit union CEO who is negotiating a settlement with the serial plaintiff.
Congress is expected to vote as soon as lawmakers return to work after Labor Day and vote the credit union-backed bill.
Anderson, a New Yorker, has won thousands of dollars in settlements from credit unions and banks in Arkansas, Texas, Louisiana, New Mexico, Oklahoma and Nevada over the last two years, with his lawyers earning tens of thousands in legal fees for their actions. Since July 24 he has filed new suits in Alabama, Louisiana, Mississippi and Georgia.
In recent days Anderson has also filed EFTA suits against: Alabama’s Community bank and Trust, Pinnacle Bank and EXB Exchange Bank; Union Bank and Trust in Arkansas; Southern Heritage Bank in Louisiana; Merchant and Planters Bank in Mississippi; and Certus Bank in Georgia, among others.
Numerous credit unions have chosen to settle claims by Anderson, which typically amount to a $1,000 payment for him and lawyers’ fees, rather than fight it out through court.
Among the credit unions entering into settlements with the prolific plaintiff is: Monroe Telco FCU, Nevada FCU, Centric FCU, Coastal Community FCU and Firestone Community FCU in Texas.
