A Court authorized the notice because you have a right to know about a proposed settlement of class action lawsuits and about all of your options before the Court decides whether to give final approval to the Settlement. The notice explains the lawsuits, the Settlement, and your legal rights.
Judge David D. Kiely of the Vanderburgh County, Indiana, Circuit Court is overseeing this case. This lawsuit is known as Steven Kelly, et al. v. Old National Bank, No. 82C01-1012-CT-627. The people who sued are called the “Plaintiffs.” ONB is the “Defendant.”Top
The lawsuit alleges Old National Bank (ONB) improperly assessed and collected overdraft fees by posting debit card transactions in order from highest to lowest dollar amount which in some instances had the effect of increasing the number of overdraft fees the bank charged its customers.
ONB maintains there is no one posting order that always benefits the customer; that, in many instances, a high-to-low method helps the customer by paying important items, such as mortgage payments, that might otherwise be returned without payment; and that, therefore, there was nothing wrong about the posting process it used, which it maintains is otherwise authorized by law. The Court has not decided which side is right.Top
An overdraft fee is any fee assessed to an account for items paid when the account had insufficient funds to cover the item. This lawsuit concerns only fees assessed on overdrafts of debit card transactions. Fees charged to transfer balances from one account to another under an overdraft protection plan are excluded.Top
The Court has not decided in favor of the Plaintiffs or ONB. Instead, both sides have agreed to a settlement. By agreeing to the Settlement, the Parties avoid the costs and uncertainty of a trial, and Class Members can receive the benefits described in this notice. The proposed Settlement does not mean that any law was broken or that ONB did anything wrong. ONB denies all legal claims in this case. Class Representatives and their lawyers think the proposed Settlement is best for everyone who is affected.Top
You are a member of the Class if you:
- Live in Indiana;
- Had an ONB consumer deposit account that you could access with a ONB debit card anytime between November 9, 2008, and August 15, 2010 (the “Class Period”); and
- Were charged two or more overdraft fees for debit card transactions posted to your account on a single day during the Class Period listed above, at least one of which was caused by ONB’s practice of posting debit card transactions from highest to lowest dollar amount.Top
If you are not sure whether you are in the Class, or have any other questions about the Settlement, call 1-844-851-4595 or email email@example.com.Top
If the Settlement is approved and becomes final, it will provide benefits to Class Members. ONB will pay $4,750,000 to a Settlement Fund to make payments to eligible Class Members, as well as to pay for attorneys’ fees, costs, and expenses, and special service payments to the three Class Representatives who prosecuted the lawsuit. The Settlement Fund will also be used to pay costs associated with administering the Settlement. If there are any funds remaining in the Settlement Fund after payments are made to Class Members, all remaining funds will be distributed to a nonprofit organization or organizations agreed upon by Class Counsel and ONB and approved by the Court.Top
If the Settlement is approved and becomes final, ONB will pay $4,750,000 into a fund from which payments will be made to eligible Class Members (the “Settlement Fund”). The Settlement Fund will also be used to pay attorneys’ fees, costs, expenses, the special service payments to the three Class Representatives who prosecuted the lawsuit, and the costs associated with administering the Settlement. If there are any funds remaining in the Settlement Fund after these payments are made, the remaining funds will be distributed to a nonprofit organization or organizations agreed upon by Class Counsel and ONB and approved by the Court.Top
Class Members who are current ONB customers will receive their payment by way of an account credit. Class Members who are no longer ONB customers and who submit valid claims will receive their payments by check. Settlement payments will be made only after the Court grants final approval to the Settlement and after any appeals are resolved. If there are appeals, resolving them can take substantial time. Updates will be made available on the website. Please be patient.Top
Unless you exclude yourself from the Settlement, you can’t sue ONB, or be part of any other lawsuit against ONB about the issues in this case. Unless you exclude yourself, all of the decisions by the Court will bind you. The Settlement Agreement is available in the Case Documents tab and describes the claims that you give up if you remain in the Settlement.Top
In a class action, one or more people called “Class Representatives” (in this case, three former ONB customers who were assessed overdraft fees) sued on behalf of themselves and other people in Indiana with similar claims. Together, all the people with similar claims (except those who exclude themselves) are members of a “Class” and are called “Class Members”.Top
Class Members who are still ONB Customers and who were charged overdraft fees during the Class Period due to posting of debit card transactions from highest to lowest dollar amount will receive payments from the Settlement automatically as an account credit.
If you are entitled to an automatic payment for overdraft fees charged to your account, you do not have to do anything in order to receive that payment. As long as you do not exclude yourself from the Settlement, the payment will be made automatically, by a credit to your ONB account.
Class Members who are former Old National customers and were charged overdraft fees during the Class Period due to posting of debit card transactions from highest to lowest dollar amount may receive payments from the Settlement by submitting a Claim Form. The Claim must be filed online or postmarked by August 30, 2016.Top
You can submit a claim online or by mail. You also can request that a Claim Form be mailed to you by calling 1-844-851-4595, by mailing your request to the Settlement Administrator. PLEASE DO NOT CALL THE COURT OR ONB. Claims can be submitted only for eligible overdraft fees charged to your account during a Claims Period, that is, from November 9, 2008, through August 15, 2010, for ONB accounts that are now closed. All other payments will be made automatically without any need to submit a claim. Any Claim Form requesting payment based on overdraft fees charged outside an applicable Claims Period or for an open account will not be considered.
Claims must be postmarked or filed electronically no later than August 30, 2016, and paper claims must be mailed to:
Old National Bank Settlement
c/o KCC Class Action Services
P.O. Box 40007
College Station, TX 77842-4007Top
If you are not eligible for an automatic payment, after you submit your claim, the Settlement Administrator, in consultation with Plaintiffs’ expert, will analyze your claim to determine whether you are entitled to a payment. If your Claim Form is incomplete or does not establish that you are entitled to a payment, the Settlement Administrator will notify you to correct any problems with your claim. If you do not, your claim will be denied. If the overdraft fees that are the subject of your claim were charged to your account during the Claims Period, were the result of high to low posting and were not refunded or charged off for non-payment, you will be eligible for a payment.
The Settlement Agreement provides more detail on how claims will be decided.Top
If you wish to decline any payment under the Settlement and exclude yourself, you must send a letter or other written document by mail to the Settlement Administrator. Your request must include:
- Your name, address, telephone number, and account number;
- A statement that you want to be excluded from the ONB Overdraft Settlement in Steven Kelly, et al. v. Old National Bank, No. 82C01-1012-CT-627; and
- Your signature.
You must mail your exclusion request, postmarked no later than June 3, 2016, to Old National Bank Settlement, P.O. Box 40007, College Station, TX 77842-4007. You cannot ask to be excluded by telephone, by email or on the website.Top
No. If you exclude yourself, you will not be entitled to a payment from this Settlement.Top
No. Unless you exclude yourself, you give up the right to sue ONB for the claims that the Settlement resolves. You must exclude yourself from the Class in order to try to maintain your own lawsuit.Top
No. You will not get a payment or account credit if you exclude yourself from the Settlement.Top
The Court has appointed William M. Sweetnam, Sweetnam LLC, 100 N. La Salle St., Ste 2200, Chicago, Illinois 60602, to represent all Class Members as “Lead Class Counsel.” There is no need to hire your own lawyer, but if you wish to do so, you may hire one at your own expense.Top
Lead Class Counsel intends to request up to forty percent of the cash amount of the Settlement for attorneys’ fees plus reimbursement of the costs and expenses of prosecuting the class action and related appeals since it was filed in 2010. The fees and expenses awarded by the Court, if any, will be paid out of the Settlement Fund. The Court will decide the amount of fees to award. Class Counsel will also request that special service payments of $10,000 each be paid from the Settlement Fund to the three Class Representatives for their service as representatives on behalf of the whole Class.Top
If you are a member of the 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 payments to the Class Representatives. To object, you must submit a letter that includes the following:
Your name, address, and telephone number;
- A statement saying that you object to the ONB Settlement in Steven Kelly, et al. v. Old National Bank, No. 82C01-1012-CT-627;
- The reasons you object to the Settlement, along with any supporting materials;
- Information about other objections you or your lawyer have made in other class action cases; and
- Your signature.
The requirements to object to the Settlement are described in detail in the Settlement Agreement in paragraphs VI. A through VI. D. You must mail your objection to each of the following three addresses, and your objection must be postmarked by June 3, 2016:
Clerk of the Court
210 Courts Building
825 Sycamore Street
Evansville, Indiana 47708
William M. Sweetnam
100 N. La Salle St., Ste 2200
Chicago, Illinois 60602
Mark J.R. Merkle
KRIEG DeVAULT LLP
12800 North Meridian Street, Ste 300
Carmel, Indiana 46032
Objecting is simply 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, you have no basis to object to the Settlement because it no longer affects you.Top
The Court has scheduled a Final Approval Hearing on June 13, 2016, at 2:00 p.m. at the Vanderburgh County Circuit Court, 825 Sycamore Street, Evansville, Indiana. The hearing may be rescheduled without additional notice; updates will be made available at www.OldNationalOverdraftFees.com. At this hearing, the Court will consider whether the Settlement is fair to Class Members and whether the relief provided is reasonable, and adequate. The Court will also consider the reasonableness of any request by Lead Class Counsel for attorneys’ fees and expenses. If there are objections, the Court will consider them at that time. After the hearing, the Court will decide whether to approve the Settlement. It is unknown how long it will take the Court to make its decision; updates will be provided on the website.Top
No. Lead Class Counsel has been appointed to act in the best interests of the class and will answer questions the Court may have. But you are welcome to attend the hearing at your own expense. If you send an objection, you don’t have to come to Court to talk about it. As long as you submitted your written objection on time, to the proper addresses, and it complies with the other requirements described in paragraphs VI. A through VI. D of the Settlement Agreement, the Court will consider it. You may also pay your own lawyer to attend, but it’s not necessary.Top
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 ONB Overdraft Settlement in Steven Kelly, et al. v. Old National Bank, No. 82C01-1012-CT-627;
- The reasons you want to be heard;
- Copies of any papers, exhibits, or other evidence or information that you will present to the Court; and
- Your signature.
You must send copies of your Notice of Intention to Appear, postmarked by June 3, 2016, to all three addresses listed in Question 21. You cannot speak at the hearing if you exclude yourself from the Settlement.Top
The notice summarizes the proposed Settlement. More details are in the Settlement Agreement. For a complete, definitive statement of the Settlement terms, refer to the Settlement Agreement. You also may obtain additional information by emailing firstname.lastname@example.org. Please do not contact the Court or ONB.Top