PNC Financial Services Group (PNC) has agreed to pay $90 million to settle a class-action lawsuit relating to its overdraft protection practices.

The lawsuit claimed that the $287.8 billion-asset PNC changed the order of its customers' debit card and ATM transactions by posting them in the highest-to-lowest dollar amount rather than the order in which they were initiated by customers and authorized by the bank. According to the lawsuit, this practice resulted in its customers being charged more in overdraft fees.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.