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Welcome to the Lipsett v Popular Bank Settlement Website.

If you have or had a consumer checking account with Popular Bank and you were charged an overdraft fee on certain debit card or ATM transactions on or after May 13, 2016, you may be eligible for a cash payment from a class action Settlement.

A $1.5 million settlement has been reached in a class action lawsuit filed against Popular Bank (“Defendant”). The Plaintiff filed this lawsuit against the Defendant alleging a breach of contract when the Defendant assessed overdraft fees on what are sometimes called “Authorize Positive, Settle Negative Transactions” (“APSN Transactions”). This is where a bank assesses an overdraft fee on a transaction that overdraws the account when it clears, although the transaction was previously authorized against sufficient available funds. The Defendant denies these legal claims. The Court has not decided who is right.

You are a “Settlement Class Member” if you come under the following Settlement Class definition:

All holders of Popular Bank consumer checking accounts who during the Class Period were assessed and not refunded an overdraft (“OD”) fee in connection with:

  1. a debit card or other ATM transaction on their account that was the subject of an authorization made on or before April 15, 2020; and/or
  2. a debit card or other ATM transaction that was authorized against positive funds on or after April 16, 2020.

Provided, however, that OD Fees assessed on or before August 6, 2018, against members of the settlement class in Valle v. Popular Community Bank, Index No. 653936/2012 (N.Y. Sup. Ct.), are not included in these two categories of OD Fees.

If you are a Settlement Class Member, you do not need to do anything to receive your cash payment. If the Settlement receives final approval from the Court, you will get your payment automatically. Current Accountholders will receive an account credit. Past Accountholders will receive a check.


Summary of Your Legal Rights and Options
Summary Deadline:
Exclude Yourself Get no cash payment and keep any right to file your own lawsuit against the Released Parties about the legal claims in this lawsuit that are released by the Settlement. December 9, 2024
Object Tell the Court why you do not like the Settlement. You will still be bound by the Settlement if the Court approves it, and you will still receive a cash payment if you are a Settlement Class Member. December 9, 2024
Do Nothing If you do nothing, you may be eligible to receive a cash payment. If you are eligible and do not exclude yourself from the Settlement, you will receive this benefit automatically if the Settlement is approved by the Court. By doing nothing, you will also release your legal claims against the Released Parties, and you will be bound by the Settlement.

Current Status

The Court in charge of this case still must decide whether to approve the Settlement. The Final Approval Hearing is scheduled for January 7, 2025.


Important Dates
  • May 13, 2016 – July 26, 2024
    Class Period
  • December 9, 2024
    Deadline to Exclude Yourself from the Settlement
  • December 9, 2024
    Deadline to Object to the Settlement
  • January 7, 2025
    Final Approval Hearing