If You Paid Overdraft Fees to National Bank of Arizona,
You May Be Eligible for a Payment from a Class Action Settlement.
A federal court authorized this notice. This is not a solicitation from a lawyer.
A $1,219,345.22 Settlement has been reached in a class action lawsuit claiming that National Bank of Arizona (“NBAZ”) and Zions Bancorporation (“Bancorp”) improperly posted debit card transactions from highest to lowest dollar amount to increase the number of overdraft fees charged to account holders. NBAZ and Bancorp maintain there was nothing wrong with the posting process used. The Court has not decided which side is right.
Current and former holders of NBAZ deposit accounts may be eligible for a payment or account credit from the Settlement Fund.
Your legal rights are affected whether you act or do not act. Read this notice carefully.
Summary of Your Legal Rights and Options in This Settlement
Receive a Payment or Account Credit
You do not have to do anything to get a payment or account credit from the Settlement. If the Court approves the Settlement and it becomes final and effective, all identifiable Settlement Class Members who remain in the Settlement Class will automatically receive a payment or account credit.
Exclude Yourself from the Settlement
Get no benefits from the Settlement. This is the only option that allows you to retain your right to bring any other lawsuit against NBAZ about the claims in this case.
Write to the Court and the lawyers for both sides if you do not like the Settlement. The Court will consider your objection in determining whether to approve the Settlement.
Go to a Hearing
Ask to speak in Court about the fairness of the Settlement.
You will receive any payment or account credit to which you are entitled, and give up your rights to participate in further litigation against NBAZ about the claims in this case.
This notice explains these rights and options and the deadlines to exercise them.
The Court in charge of this case still has to decide whether to approve the Settlement. If it does, and any appeals are resolved, benefits will be distributed to those who qualify. Please be patient.
1. Why is there a notice?
A Court authorized this notice because you have a right to know about a proposed Settlement of this class action lawsuit and about all of your options, before the Court decides whether to give final approval to the Settlement. This Notice explains the lawsuit, the Settlement, and your legal rights.
United States District Court Judge Bruce S. Jenkins, of the United States District Court for the District of Utah, is overseeing this case. The case is known as Barlow v. Zions Bancorporation, Case No. 2:11-cv-00929-BSJ. The people who sued are Donald Newby and Kelley Dowdle and are called the Plaintiffs. The Defendants are National Bank of Arizona (“NBAZ”) and Bancorp.
2. What is this lawsuit about?
The lawsuit concerns whether NBAZ posted debit card transactions in order from highest to lowest dollar amount to maximize the number of overdraft fees assessed to its customers. The lawsuit claims that, instead of declining certain transactions when an account had insufficient funds to cover a purchase, NBAZ authorized the transactions and then processed them in highest to lowest dollar amount order, which had the effect of increasing the number of overdraft fees the bank charged its customers.
The Second Amended Consolidated Class Action Complaint in this lawsuit is posted under the Court Documents and contains all of the allegations and claims asserted against NBAZ and Bancorp. NBAZ and Bancorp maintain there was nothing wrong about NBAZ’s approval of transactions or the posting process NBAZ used.
3. What is an overdraft fee?
An overdraft fee is any fee assessed to an account when paying an item because at the time of the payment request or payment the account has insufficient funds to cover the item. Fees charged to transfer balances from other accounts are excluded.
4. Why is this a class action?
In a class action, one or more people, called class representatives (in this case, two NBAZ customers who was assessed overdraft fees), sue on behalf of themselves and other people with similar claims. Together, all the people with similar claims (except those who exclude themselves) are members of a “Settlement Class.”
5. Why is there a Settlement?
The Court has not decided in favor of either the Plaintiffs or NBAZ. Instead, both sides agreed to a Settlement. By agreeing to the Settlement, the parties avoid the costs and uncertainty of a trial, and Settlement Class Members immediately receive the benefits described in this notice. The proposed Settlement does not mean that any law was broken or that NBAZ or Bancorp did anything wrong. NBAZ and Bancorp deny all legal claims in this case. Plaintiffs and their attorneys think the Settlement is best for everyone who is affected.
WHO IS IN THE SETTLEMENT?
If you received notice of the Settlement by a postcard addressed to you, then you are a Settlement Class Member. But even if you did not receive a postcard with Settlement notice, you may be a Settlement Class Member, as described below.
6. Who is included in the Settlement?
You are a member of the Settlement Class if you:
Had an NBAZ deposit account accessible with an NBAZ debit card, at any time between October 5, 2005 and May 6, 2011; and
Were charged one or more overdraft fees because of NBAZ’s practice of posting debit card transactions from highest to lowest dollar amount.
To be included in the Class, you must have had two or more overdraft fees caused by debits posted to your account on a single day during the period listed above.
THE SETTLEMENT’S BENEFITS
7. What does the Settlement provide?
NBAZ has agreed to establish a Settlement Fund of $1,219,345.22 that will provide payments or account credits to eligible Settlement Class Members, attorneys’ fees and expenses to class counsel, and a service award to the named Plaintiffs. The amount any individual Settlement Class Member will receive cannot be determined at this time. Payments will be based, in part, on the number of people in the Settlement Class and the amount of overdraft fees each Settlement Class Member paid to NBAZ because of NBAZ’s posting order. Any money left in the Settlement Fund following payments to Settlement Class Members, attorneys’ fees and expenses, and a service award to the named Plaintiffs, will either be distributed to Settlement Class Members who have already received a payment or will be paid to Texas Jump$tart Coalition for Personal Financial Literacy, a nonprofit organization approved by the Court.
8. How do I receive a payment or account credit?
If you are included in the Settlement Class and entitled to receive a payment or cash benefit, you do not need to do anything to be entitled to receive a payment or account credit. If the Court approves the Settlement and it becomes final and effective, you will automatically receive a payment or account credit.
9. What am I giving up to stay in the Settlement Class?
Unless you exclude yourself from the Settlement, you cannot sue, continue to sue, or be part of any other lawsuit against NBAZ about the legal issues in this case. Unless you exclude yourself, all of the decisions by the Court will bind you. The Settlement Agreement is available under the Court Documents and describes the claims that you give up if you remain in the Settlement.
EXCLUDING YOURSELF FROM THE SETTLEMENT
If you do not want benefits from the Settlement, and you want to keep the right to sue or continue to sue NBAZ on your own about the legal issues in this case, then you must take steps to get out of the Settlement. This is called excluding yourself, or it is sometimes referred to as “opting out” of the Settlement Class.
10. How do I get out of the Settlement?
To exclude yourself from the Settlement, you must send a letter postmarked on or before January 17, 2014 that includes the following:
Your name, address, and telephone number;
A statement that you want to be excluded from the NBAZ Settlement in Barlow v. Zions Bancorporation, Case No. 2:11-cv-00929-BSJ (D. Utah); and
You must mail your exclusion request, postmarked no later than January 17, 2014, to:
NBAZ Overdraft Settlement Exclusions
P.O. Box 3050
Faribault, MN 55021-2650
You cannot ask to be excluded on the phone, by email, or at the website.
11. If I do not exclude myself, can I sue NBAZ for the same thing later?
No. Unless you exclude yourself, you give up the right to sue NBAZ for the claims that the Settlement resolves. You must exclude yourself from this Settlement Class in order to try to pursue your own lawsuit.
12. If I exclude myself from the Settlement, can I still get a payment?
No. You will not get a payment or account credit if you exclude yourself from the Settlement.
THE LAWYERS REPRESENTING YOU
13. Do I have a lawyer in this case?
The Court has appointed as Class Counsel a number of lawyers to represent you and other Settlement Class Members. They include:
Thomas R. Karrenberg
Jon V. Harper
Anderson & Karrenberg
50 West Broadway, Suite 700
Salt Lake City, UT 84101
Telephone: (801) 534-1700
Facsimile: (801) 364-7697
Edward F. Haber
Thomas V. Urmy, Jr.
Patrick J. Vallely
Shapiro Haber & Urmy LLP
53 State Street
Boston, MA 02109
Telephone: (617) 439-3939
Kronenberger Rosenfeld, LLP
150 Post Street, Suite 520
San Francisco, CA 94108-4707
Telephone: (415) 955-1155
Facsimile: (415) 955-1158
Mark A. Griffin
Karin B. Swope
Keller Rohrback, L.L.P.
1201 Third Avenue, Suite 3200
Seattle, Washington 98101
Telephone: (206) 623-1900
You will not be charged for contacting these lawyers. If you want to be represented by your own lawyer, you may hire one at your own expense.
14. How will the lawyers be paid?
Class Counsel intends to request up to 33 1/3 percent of the Settlement Fund for attorneys’ fees, plus reimbursement of the costs and expenses of prosecuting the class action. Class Counsel’s application for attorneys fees, costs, and expenses will be posted to the website before the deadline for you to object to or exclude yourself from the Settlement. The fees and expenses awarded by the Court will be paid out of the Settlement Fund. The Court will determine the amount of fees and expenses to award. Class Counsel will also request that $5,000 per named Plaintiff be paid from the Settlement Fund to the two named Plaintiffs for their service as class representatives on behalf of the whole Settlement Class.
OBJECTING TO THE SETTLEMENT
You can tell the Court that you do not agree with the Settlement or some part of it.
15. How do I tell the Court that I do not like the Settlement?
If you are a member of the Settlement Class, you can object to any part of the Settlement, the Settlement as a whole, Class Counsel’s requests for fees and expenses, and/or the special service payment to the two named Plaintiffs. To object, you must submit a letter to the Court and other recipients listed below that includes the following:
The name of the Action, which is Barlow v. Zions Bancorporation, Case No. 2:11-cv-00929-BSJ (D. Utah);
Your full name, address and telephone number;
An explanation of the basis upon which you claim to be an NBAZ Settlement Class Member;
All grounds for the objection, accompanied by any legal support for the objection known to you or your counsel;
The number of times, if any, that you have objected to a class action settlement within the five years preceding the date that you file the objection, the caption of each case in which you have made such objection, and a copy of any orders related to or ruling upon your prior such objections that were issued by the trial and appellate courts in each listed case;
The identity of all counsel who represent you, including any former or current counsel who may be entitled to compensation for any reason related to the objection to the Settlement or fee application;
The number of times in which your counsel and/or counsel’s law firm have objected to a class action settlement within the five years preceding the date that you file the objection, the caption of each case in which the counsel or the firm has made such objection, and a copy of any orders related to or ruling upon counsel’s or the firm’s prior such objections that were issued by the trial and appellate courts in each listed case;
Any and all agreements that relate to the objection or the process of objecting—whether written or oral—between you or your counsel and any other person or entity;
The identity of all counsel representing you who will appear at the Final Approval Hearing;
A list of all persons who you will call to testify at the Final Approval Hearing in support of your objection;
A statement confirming whether you intend to appear personally and/or testify at the Final Approval Hearing; and
Your signature (an attorney’s signature is not sufficient).
A complete list of the requirements to object to the Settlement are set forth in the Settlement Agreement at paragraph 59.
You must submit your objection to each of the following addresses, postmarked by January 17, 2014:
Clerk of the Court
U.S. District Court for the District of Utah
Judge Bruce S. Jenkins
350 South Main Street
Salt Lake City, UT 84101
NBAZ Overdraft Settlement
P.O. Box 3050
Faribault, MN 55021-2650
Edward F. Haber
Shapiro Haber & Urmy LLP
53 State Street
Boston, MA 02109
Scott H. Jacobs
Reed Smith LLP
355 South Grand Avenue, Suite 2900
Los Angeles, CA 90071-1514
16. What is the difference between objecting and excluding?
Objecting is telling the Court that you do not like something about the Settlement. You can object to the Settlement only if you do not exclude yourself. Excluding yourself is telling the Court that you do not want to be part of the Settlement. If you exclude yourself from the Settlement, you have no basis to object to the Settlement because it no longer affects you.
THE COURT’S SETTLEMENT APPROVAL HEARING
The Court will hold a hearing to decide whether to approve the Settlement and any requests for attorneys’ fees and expenses. You may attend and you may ask to speak, but you do not have to do so.
17. When and where will the Court decide whether to approve the Settlement?
The Court will hold a Final Approval Hearing February, 14, 2014, at 2:00p.m. in Room 420 of the United States District of Court for the District of Utah at 350 South Main Street, Salt Lake City, Utah. The hearing may be moved to a different date or time without additional notice, so it is a good idea to check this website for updates. At this hearing, the Court will consider whether the Settlement is fair, reasonable, and adequate. The Court will also consider the request by Class Counsel for attorneys’ fees and expenses and for payment of a service award to the two Plaintiffs. If there are objections, the Court will consider them at this time. At or after the hearing, the Court will decide whether to approve the Settlement. We do not know how long these decisions will take.
18. Do I have to come to the hearing?
No. Class Counsel will answer any questions the Court may have. But, you are welcome to attend the hearing at your own expense. If you send an objection, you do not have to come to Court to talk about it. As long as you submit your written objection on time to all of the recipients listed above, and it complies with the requirements described in this Notice and paragraph 59 of the Settlement Agreement, the Court will consider it. You may also pay your own lawyer to attend, but it is not necessary.
19. May I speak at the hearing?
You may ask the Court for permission to speak at the Final Approval Hearing. To do so, you must send a letter saying that you intend to appear and wish to be heard. Your Notice of Intention to Appear must include the following:
Your name, address and telephone number;
A statement that this is your “Notice of Intention to Appear” at the Final Approval Hearing for the NBAZ Settlement in Barlow v. Zions Bancorporation, Case No. 2:11-cv-00929-BSJ;
The reasons you want to be heard;
Copies of any papers, exhibits, or other evidence or information that is to be presented to the Court at the Settlement Approval Hearing; and,
You must send your Notice of Intention to Appear, postmarked by January 17, 2014, to the recipients listed in Question 15. You may speak at the hearing if you object to the Settlement, but as noted, if you exclude yourself from the Settlement, you cannot object or speak at the hearing.
IF YOU DO NOTHING
20. What happens if I do nothing at all?
If you do nothing, the Court approves the Settlement, and it becomes final and effective, you will receive the benefits to which you are entitled. Unless you exclude yourself, you will not be able to start a lawsuit, continue with a lawsuit, or be part of any other lawsuit against NBAZ relating to the issues in this case.
21. How will I receive the settlement benefits?
If you are entitled to receive a cash benefit, and if the Court approves the Settlement, your NBAZ account will automatically receive a payment or account credit for eligible overdraft fees paid during the period covered by the Settlement. If you no longer maintain an account at NBAZ at the time of the payment, a check will be mailed to you. To ensure receipt of any settlement benefits due to you, you should contact the settlement administrator to ensure the settlement administrator has your current address.
GETTING MORE INFORMATION
22. How do I get more information?
This notice summarizes the proposed Settlement. You can find more details in the Settlement Agreement. You can obtain a copy of the Settlement Agreement under Court Documents. You may also write with questions to NBAZ Overdraft Settlement, P.O. Box 3050, Faribault, MN 55021-2650 or call the toll-free number, 1-866-759-6521. Do not contact NBAZ or the Court for information.