Investigation and potential class action lawsuit against IBC Bank for allegedly wrongfully charging overdraft fees and other types of bank fees to its customers.
Many IBC Bank customers have complained about being charged overdraft fees. In one scenario, it is alleged that IBC Bank re sequences debit card transactions to maximize overdraft fees. Consider the following example: Time 1: You have $100.00 in your bank account. Time 2: You use your debit card at Starbucks for $20.00. Time 3: You use your debit card at the gas station for $5.00. Time 4: You use your debit card at the grocery store for $105.00. Time 5: IBC Bank reorders the debits and posts the latest occurring $105 debit first, and then charges an overdraft fee. IBC Bank then posts the $20.00 debit, and then charges a second overdraft fee. IBC Bank then posts the $5.00 debit, and charges a third overdraft fee. If IBC Bank would have posted the debits in order in which they actually occurred, you only would have incurred one overdraft fee. Instead, you are stuck with three. The bank's practice of reordering debit transactions constitutes an unlawful deceptive trade practice.
It has been further alleged that IBC Bank debits purchases from ATM, debit or check cards and checks written on the account before it credits deposits into the account for the same reason.
This is but two embodiments of what may be IBC Bank practice of charging its customers unlawful fees.
If you have been charged an overdraft fee by IBC Bank, please contact us to explain your experience.
Name (Stock Symbol)
International Bancshares Corporation (IBOC)
International Bancshares Corporation operates as a multi-bank financial holding company that provides commercial and retail banking services in south, central, and southeast Texas; and Oklahoma. Its bank is known as IBC Bank.
The information provided on ClassAdvocate.com is general in nature,
does not apply to any particular factual situation, and is not and
should not be taken as legal or other professional advice. We make no
commitment or warranty that the factual, legal or any other information
on ClassAdvocate.com, or on any linked website, is accurate, complete,
error-free, or current. As such, you should not rely on such information,
and should seek professional advice if and as you determine appropriate.
ClassAdvocate.com is not a lawyer referral service, and no attorney-client
or confidential relationship is or should be formed by use of the site.
The investigations listed on ClassAdvocate.com are attorney advertisements
and do not in any way constitute a referral or endorsement by ClassAdvocate.com
or any approved or authorized lawyer referral service.