The information contained on this website is only a summary of information presented in more detail in the Notice, which you can access by clicking here. Please review the Notice for additional details.


If you are a member of the Settlement Class, your legal rights are affected whether you act or do not act.


Please read the Notice carefully.



SUMMARY OF YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT
IF YOU ARE A SETTLEMENT CLASS MEMBER, YOU MAY:
SUBMIT A CLAIM FORM

Submit a claim for a monetary settlement payment. If you are a Settlement Class Member, you must complete and submit a valid Claim Form, postmarked or filed online no later than July 23, 2018, to receive a settlement payment. All account owners are entitled to submit a Claim Form, even if you are a joint account owner and the other account owners have submitted a Claim Form.

If you received a Claim Form, you may complete and return your Claim Form in one of two ways: (1) by completing and returning the Claim Form by mail; or (2) by completing and submitting a Claim Form online by clicking here and entering the Notice Identification Number listed on the Notice and Claim Form mailed to you. Please submit only 1 Claim Form.

If you did not receive a Claim Form by mail, but believe you are a member of the Settlement Class, you can file a claim online by clicking here or by requesting a Claim Form be mailed to you by the Settlement Administrator, A.B. Data, Ltd. by clicking here.

If you choose to mail your completed Claim Form, send it to the Settlement Administrator at Banco Popular Overdraft Fee Settlement, c/o A.B. Data, Ltd., P.O. Box 173048, Milwaukee, WI 53217.

Submitting a Claim Form is the only way to get payment resulting from this Settlement. You must submit a Claim Form to the Settlement Administrator to be eligible to receive any payment from the Settlement.

EXCLUDE YOURSELF FROM THE SETTLEMENT You have the right to exclude yourself from the Settlement. Instructions about how to do so are contained in the Long-Form Notice available on this website. The deadline to give notice of exclusion is July 6, 2018.
OBJECT TO SETTLEMENT You have the right to object to the Settlement. Instructions about how to do so are contained in the Long-Form Notice available on this website. The deadline to object is July 6, 2018.
ATTEND THE FINAL APPROVAL HEARING You, or a personal attorney retained by you at your expense, may attend the hearing where the Court will consider final approval of the Settlement. The final approval hearing is scheduled for August 6, 2018 at 3:00 p.m.
DO NOTHING If you do not submit a Claim Form, you will not receive any payment resulting from this Settlement and, if the Settlement receives final approval, your claims against Popular will be released in the same manner as all other Settlement Class Members. By doing nothing, you will give up any right you have to bring your own lawsuit against Popular based on the legal claims in this case.

WHAT BENEFITS CAN I RECEIVE FROM THE SETTLEMENT?

Popular has agreed to provide the following payments to Settlement Class Members who submit timely and complete Claim Forms:

1. Absent the pro rata adjustments set forth below, Settlement Class Members will receive a distribution equal to (i) 50% of all Initial Overdraft Fees paid by them on their Account(s) during the Class Period for ATM withdrawals or POS Debit Card transactions that the Settlement Class Member estimates were caused by one or more of the Disputed Practices; and (ii) 50% of one (1) Continuous Overdraft Fee for every two (2) Initial Overdraft Fees incurred by the Settlement Class Member on ATM withdrawals or POS Debit Card transactions from January 25, 2012 through September 30, 2014. If the total amount of all Qualified Claims received from all Settlement Class Members is more than $5,200,000.00, then each claim will be reduced pro rata to reduce the total amount of Popular’s aggregate settlement payments to Settlement Class Members to $5,200,000.00. If the total value of all Qualified Claims received is less than $550,000.00, then the 50% payment rate applied above will be increased until it reaches 100% or the total amount of Popular’s aggregate settlement payments to Settlement Class Members equals $550,000.00, whichever occurs first.

Popular has searched its records to determine the total amount of Initial Overdraft Fees (but not Continuous Overdraft Fees) paid by each Settlement Class Member for qualifying ATM withdrawals or POS Debit Card transactions during the Class Period, for each Popular Account. Settlement Class Members can obtain the total amount of Initial Overdraft Fees they paid during the Class Period by calling the Settlement Administrator at 1-888-208-9630 or visiting this website. The Settlement Administrator will calculate the amount to be paid to each Settlement Class Member based on the information provided by Popular, unless a Settlement Class Member submits evidence to the Settlement Administrator that he or she was charged a different amount of Initial Overdraft Fees for ATM withdrawals or POS Debit Card transactions during the Class Period.

Settlement Class Members should only submit one (1) Claim Form, regardless of the number of eligible Popular Accounts they maintained. If more than one Account holder for a joint Popular Account submits a Claim Form for the same Account, the Settlement payments will be allocated among them by the Settlement Administrator. If any Account holder for a joint Popular Account excludes himself or herself from this Settlement, no Settlement payment will be made by the Settlement Administrator for that Account.

Settlement Class Members are not required to submit any proof in support of their claims, except for the Claim Form, unless (i) Popular’s records show they were not charged any Initial Overdraft Fees on ATM withdrawals or POS Debit Card transactions during the Class Period, or (ii) they dispute the number of Initial Overdraft Fees charged on ATM withdrawals or POS Debit Card transactions during the Class Period shown in Popular’s records.

2. In addition to the payments described in No. 1 above, Popular has agreed to pay the costs of settlement administration and notice up to $250,000.00.

3. In addition to the payments described in Nos. 1 and 2 above, Popular has agreed to pay the Settlement Class Counsel’s attorneys’ fees, costs, and expenses in an amount of up to $1,950,000.00 and an incentive award to the Plaintiffs of $10,000.00.

4. In addition to the payments described in Nos. 1, 2, and 3 above, Popular has agreed to revise the disclosures provided to new Account holders to describe (1) the type(s) of account balance information that Popular may provide or otherwise make available at ATM terminals and, if applicable, POS terminals, including a definition or other description of each type of balance information; and (2) the type of account balance information that Popular uses to determine when an overdraft has occurred for the purpose of assessing an Overdraft Fee.

SETTLEMENT DEADLINES

The deadline for submitting your claim is July 23, 2018.

To be considered timely, your claim must be postmarked by the deadline, if submitted by mail, or posted to the online claim filing site by the deadline, if submitted online.


The deadline for excluding yourself from the Settlement is July 6, 2018.

To be considered timely, your exclusion notice must be postmarked by the deadline.


The deadline to object to the Settlement is July 6, 2018.

To be considered timely, your objection must be submitted to the Clerk of the Court and postmarked by the deadline.