On March 23, 2021, Gibbs Law Group filed a class action lawsuit against Investors Bank for allegedly charging excessive overdraft and insufficient funds (NSF) fees.

Right now, the lawsuit only relates to overdraft and insufficient funds (NSF) fees. But some people reportedly experience related issues from Investors Bank, including improper intra-bank transfer fees or foreign transaction fees. If you believe that you may have incurred any of these fees, please reach out to our attorneys and we will review your potential claim.

Investors Bank Overdraft and NSF Fees

Investors Bank, which operates in New Jersey and New York, says it charges the following overdraft fees:

  • Overdraft fee of $30 for personal checking accounts and $35 for business accounts

Investors Bank says that by default, it charges this fee only for overdrafts incurred by checks, ACH or recurring online bill payments. Investors Bank says it also charges this fee for ATM and debit card transactions if customers choose opt-in overdraft service.

Customers may also sign up for “Sweep Protection,” which automatically transfers funds from a savings account to a checking account to cover charges, but this also incurs fees.

About Us

Gibbs Law Group is a California-based law firm committed to protecting the rights of clients nationwide who have been harmed by corporate misconduct. We represent individuals, whistleblowers, employees, and small businesses across the U.S. against the world’s largest corporations. Our award-winning lawyers have achieved landmark recoveries and over a billion dollars for our clients in high-stakes class action and individual cases involving consumer protection, data breach, digital privacy, and federal and California employment lawsuits. Our attorneys have received numerous honors for their work, including “Top Plaintiff Lawyers in California,” “Top Class Action Attorneys Under 40,” “Consumer Protection MVP,” “Best Lawyers in America,” and “Top Cybersecurity/ Privacy Attorneys Under 40.”