Frequently Asked Questions

Basic Information

1. Why did I get a notice?

If you received a postcard notice or email relating to this case, then the records of Defendant show that you were assessed a Challenged Fee. Because of this, you are a Class Member, and you may be affected by this class action settlement.

The Court is providing notice because you have a right to know about the proposed class action settlement, and about your options, before the Court decides whether to approve the settlement. If you do nothing and the Court approves the settlement, and after any appeals are resolved, the benefits of the settlement will be provided to you.

The Notice and this website explain the lawsuit, the settlement, your legal rights, what benefits are available, and how those benefits will be calculated.

The Court in charge of the case is The United States District Court for the Southern District of Iowa, and the case is known as Jones v. Bankers Trust Company. The person who sued is called the Plaintiff, and the entity sued is called the Defendant.

2. What is a class action?

In a class action lawsuit, one or more people called “Class Representatives” (in this case, Plaintiff Stephanie Jones) sue on behalf of themselves and other people who have similar claims. All of these people are called Class Members, and together they form the Settlement Class. This is a class action because the Court has decided it meets the legal requirements to be a class action solely for the purposes of settlement and notice. Because the case is a class action, one court resolves the issues for everyone in the Settlement Class, except for those people who choose to exclude themselves from the Settlement Class.

3. What is this lawsuit about?

The lawsuit claims that Defendant improperly assessed the Challenges Fees. Defendant denies that it did anything wrong. Defendant claims that it was allowed to assess these fees and properly did so in accordance with the terms of its account agreements and applicable law.

4. Why is there a settlement?

The Court did not decide in favor of the Plaintiff or the Defendant. Instead, both sides agreed to a settlement. That way, they avoid the cost of a trial and the risks of either side losing, and they ensure that the people affected by the lawsuit receive compensation. Defendant does not in any way acknowledge, admit to or concede any of the allegations in the lawsuit and expressly disclaims and denies any and all fault or liability for the charges that have been alleged in this lawsuit. The parties think that the settlement is best for everyone involved under the circumstances. The Court will evaluate the settlement to determine whether it is fair, reasonable, and adequate before it approves the settlement.

Who is in the Settlement

To see if you will be provided with benefits from this settlement, you first have to decide if you are a Class Member.

5. How do I know if I am part of the Settlement?

If you received an email or postcard notice addressed to you then you are a Class Member , you will be a part of the settlement, and the applicable benefits of the settlement will be provided to you, unless you exclude yourself. If you are not sure whether you have been properly included, you can call or email the Settlement Administrator at: (844) 496-1128, or info@BTSettlement.com.

The Settlement Benefits – What You Get

6. What does the Settlement provide?

The Defendant has agreed to pay $550,000.00 into a Settlement Fund to settle this case, plus Defendant will forgive and charge-off all uncollected overdraft fees from the Class Period on Class Member accounts (“Debt Forgiveness”), making the total Value of the Settlement no less than $564,283.26. As discussed separately below (see FAQ 15), attorneys’ fees, Class Counsel’s expenses, the costs of the notice and the costs of distributing the settlement benefits, among other settlement administration costs, and the Service Award Amount to the Class Representative will also be paid out of the Settlement Fund.

7. What can I get from the Settlement?

After deducting the attorneys’ fees and expenses, costs of notice and administration, and Service Award Amount to the Class Representative approved by the Court, there will be a Net Settlement Fund available for distribution to Class Members who do not exclude themselves from the Settlement Agreement. Each such Class Member will be paid from this fund on a pro rata basis, based on the amount of applicable Challenged Fees paid by the Class Member. For example, a Class Member who paid $1,000.00 in applicable fees will receive a check or account credit for twice as much as a Class Member who paid $500.00 in applicable fees.

The actual amount of any Class Member’s check or account credit will be determined by an independent settlement administrator based on the following formula:

You will not receive more in the settlement than the amount of the applicable fees that you paid during the Class Period and are likely to receive less.

If there are uncollected funds after the first distribution, there will be subsequent distributions in the same manner as the first to the persons who successfully received an account credit or cashed their check in the prior distribution round. Once Class Counsel determines that it would not be feasible to make further distributions to Class Members based on the administrative costs of the distribution, which will be paid from the Settlement Fund, any remaining uncollected funds will be paid on a cy pres basis to a charity approved by the Court. The parties are recommending that the Court make an award to Habitat for Humanity.

If you think another charity would better serve the interests of the Settlement Class, you may write to the Settlement Administrator at the address in FAQ 11 to recommend a different charity and to explain why you believe the charity is appropriate. The Settlement Administrator will pass your recommendation onto Class Counsel who will file it with the Court.

8. What do I need to do to receive a payment from the settlement?

You do not need to do anything to receive a payment from the settlement or account credit and/or debt forgiveness. As long as you do not exclude yourself, you will receive a settlement check or account credit and/or debt forgiveness if the settlement is approved and becomes final and if you are eligible. If your address changes, however, please call or email the Settlement Administrator at: (844) 496-1128, or info@BTSettlement.com to report the address change so that your payment reaches you.

9. When would I get my payment?

The Court will hold a hearing on December 17, 2025, at 11:00 a.m. to decide whether to approve the settlement. You do not need to attend. If the Court approves the settlement, there may be a period when appeals can be filed. Once any appeals are resolved or if no appeals are filed, it will be possible to distribute the funds. This may take several months and perhaps more than a year. You do not need to do anything to receive your payment.

10. What am I giving up to get a payment?

Unless you exclude yourself, you are staying in the Settlement Class, and that means you can’t sue, continue to sue, or be part of any other lawsuit against Defendant and any other Released Parties relating to the legal claims that were or could have been brought in this case (the “Released Claims,” as defined in the Settlement Agreement). It also means that all of the Court’s orders will apply to you. Once the settlement is final, any Released Claims that you may have will be released and forever barred.

Excluding Yourself from the Settlement

If you don’t want a payment, account credit, or any other benefits from this settlement, but you want to keep the right to sue or continue to sue the Defendant on your own about the legal issues in this case, then you must take steps to get out. This is called excluding yourself—or is sometimes referred to as opting out of the Settlement Class.

11. How do I get out of the Settlement?

To exclude yourself from this settlement, you must send a letter by mail saying that you want to opt-out or be excluded from Jones v. Bankers Trust Company. The letter must include your name, address, telephone number, and your signature. You must mail your exclusion request postmarked no later than November 17, 2025, to:

Jones v. Bankers Trust Company Exclusions
c/o Settlement Administrator
P.O. Box 25226
Santa Ana, CA 92799

You can’t exclude yourself on the phone or by email or by letter to a different address. If you ask to be excluded, you will not get any settlement payment or credit, and you cannot object to the settlement. You will not be legally bound by anything that happens in this lawsuit. You may be able to sue (or continue to sue) the Defendant in the future.

12. If I don't exclude myself, can I sue later for the same thing?

No. Unless you exclude yourself, you give up the right to sue the Defendant or any other Released Parties for the Released Claims that this settlement resolves. If you have a pending lawsuit, speak to your lawyer in that suit immediately. You must exclude yourself from this Class to continue your own lawsuit. Remember that the exclusion deadline is November 17, 2025. You can review the scope of the releases of your right to sue Defendant and others in paragraph 4 of the Settlement Agreement.

13. If I exclude myself, can I get money from this settlement?

No. If you exclude yourself, you are not eligible for any money or benefits from this settlement.

The Lawyers Representing You

14. Do I have a lawyer in this case?

The Court appointed the law firms of CohenMalad, LLP; Gibbs Law Group LLP; Roxanne Conlin & Associates, O.C.; and Stranch, Jennings & Garvey, PLLC to represent you and other Class Members. Together, the lawyers are called Class Counsel. You will not be charged for these lawyers. If you want to be represented by your own lawyer, you may hire one at your own expense.

15. How will the lawyers be paid?

Class Counsel will ask the Court for attorneys’ fees of up to 1/3 of the Value of the Settlement to be paid from the Settlement Fund, plus reimbursement of Class Counsel’s expenses, and a service award to the Class Representative of up to $5,000.00, to be paid from the Settlement Fund. The amount of the attorneys’ fees, expenses, and service awards must be approved by the Court. The request for attorneys’ fees, expenses, and service award will be posted on the Settlement Website once it is filed and before the deadline for objections.

Objecting to the Settlement

You can tell the Court that you don’t agree with the settlement or some part of it.

16. How do I tell the Court that I don't like the settlement?

If you’re a Class Member, you can object to the settlement if you don’t like any part of it. You must state the reasons for your objection and include any evidence, briefs, motions or other materials you intend to offer in support of the objection. The Court may consider your views. To object, you must send a letter saying that you object to Jones v. Bankers Trust Company. You must include your name, address, telephone number, your signature, and the reasons you object to the settlement, along with any evidence or legal argument that supports your objection. You must mail the objection to the following address postmarked no later than November 17, 2025:

Jones v. Bankers Trust Company Objections
c/o Settlement Administrator
P.O. Box 25226
Santa Ana, CA 92799

17. What's the difference between objecting and excluding?

Objecting is simply telling the Court that you don’t like something about the settlement. You can object only if you stay in the Settlement Class. Excluding yourself is telling the Court that you don’t want to be part of the Settlement Class. If you exclude yourself, you have no basis to object because this case no longer affects you.

The Court's Final Approval Hearing

The Court will hold a hearing to decide whether to approve the settlement. You do not need to attend the hearing. However, if you wish, you may attend and you may ask to speak.

18. When and where will the Court decide whether to approve the Settlement?

The Court will hold a Final Approval Hearing on December 17, 2025, at 11:00 a.m. at United States Federal Courthouse, 111 Locust Street, Des Moines, Iowa. At this hearing, the Court will consider whether the settlement is fair, reasonable, and adequate. If there are objections, the Court may consider them. The Court may listen to people who have asked to speak at the hearing and complied with the instructions in FAQ 20. The Court may also decide how much to pay Class Counsel. After the hearing, the Court will decide whether to approve the settlement. We do not know how long these decisions will take. You are not required to attend this hearing

19. Do I have to come to the hearing?

No. You are welcome to come at your own expense if you wish, but Class Counsel will answer questions the Court may have. If you send an objection, you don’t have to come to Court to talk about it. As long as you mailed your written objection on time, the Court may consider it. You may also pay your own lawyer to attend, but it’s not necessary.

20. May I speak at the hearing?

You may ask the Court for permission to speak at the Final Approval Hearing. To do so, you must send a letter saying that it is your “Notice of Intention to Appear in Jones v. Bankers Trust Company.” You must include your name, address, telephone Trust Company.” You must include your name, address, telephone number, your signature, and any evidence you intend to use at the hearing. Your Notice of Intention must be postmarked no later than November 17, 2025, and be sent to the address listed under FAQ 16. If you hire a lawyer to speak for you, he or she must also comply with the requirements of this paragraph and must file an appearance in accordance with the applicable rules of the Court.

If You Do Nothing

21. What happens if I do nothing at all?

If you do nothing, you will be a part of this settlement, and you will be provided with the payments or account credit and any other benefits provided by the settlement once it becomes final. In exchange for the payment or credit and/or debt forgiveness you won’t be able to start a lawsuit, continue with a lawsuit, or be part of any other lawsuit against the Defendant relating to the claims released in the Settlement Agreement.

Getting More Information

22. Are there more details about the settlement?

This website summarizes the proposed Settlement. More details are in the Settlement Agreement. You can get a copy of the Settlement Agreement, and other case related documents, on the Important Documents page. You can call the Settlement Administrator at (844) 496-1128. Before doing so, however, please read the full Notice carefully.

Do not contact the Court or Clerk of Court regarding this settlement.