If you were a Georgia resident who banked with SunTrust and got hit with overdraft fees on small debit card or ATM transactions between 2006 and 2014, you may be entitled to a share of a $240 million settlement fund. The case, *Bickerstaff v. SunTrust Bank*, was filed in Fulton County, Georgia and alleged that SunTrust’s overdraft fees were effectively illegal interest charges under Georgia’s usury statute. After 15 years of litigation — making it one of the longest-running bank fee disputes in the state — the U.S. Supreme Court declined to hear Truist’s appeal in January 2026, and a settlement agreement was signed on January 20, 2026.
To put that in perspective, someone who opened a SunTrust checking account as a college freshman when the case was filed could now be in their mid-thirties. After attorneys’ fees, expenses, and administration costs (estimated at $84.2 million), approximately $155.8 million will be distributed to eligible customers on a pro rata basis, meaning your share depends on how much you were charged in qualifying overdraft fees. Claim forms are not yet available — they will be mailed or emailed to eligible class members after the court grants final approval. The fairness hearing is scheduled for May 26, 2026.
Table of Contents
- Who Qualifies for the $240M SunTrust Bank Overdraft Fees Settlement?
- How Much Money Will You Actually Receive from This Settlement?
- Why Did This Case Take 15 Years to Settle?
- Key Deadlines and How to File Your Claim
- Common Pitfalls That Could Cost You Your Payout
- What This Settlement Means for Current Truist Customers
- The Broader Impact on Bank Overdraft Practices
- Frequently Asked Questions
Who Qualifies for the $240M SunTrust Bank Overdraft Fees Settlement?
Eligibility centers on three criteria. First, you must have been a Georgia resident who held a SunTrust Bank account. Second, you must have been charged overdraft fees specifically on debit card or ATM transactions of $500 or less. Third, those fees must have been incurred between July 12, 2006 and April 15, 2014, though some sources reference a broader account period extending to October 2017. If you fit all three of those categories, you are likely a member of the settlement class. One important detail: SunTrust merged with BB&T in 2019 to form Truist Bank.
So if you’re looking at your current banking and thinking “I don’t have a SunTrust account,” that’s because the brand no longer exists. What matters is whether you had a SunTrust account during the qualifying period and were charged these fees while living in Georgia. If you moved out of state after incurring the fees, you should still qualify — the residency requirement applies to the time the fees were charged. However, if you held a SunTrust account in another state like Tennessee or Virginia, this particular settlement does not cover you, because the legal claim was based on Georgia’s usury law. It is also worth noting that you do not need to currently bank with Truist to be eligible. Even if you closed your SunTrust account years ago, the settlement administrators should have records tied to your account history. That said, keeping your contact information current with the settlement administrator is critical, because claim forms will be sent to the last known address or email on file.
How Much Money Will You Actually Receive from This Settlement?
The total settlement fund is up to $240 million, but the net amount reaching customers is approximately $155.8 million after deducting the estimated $84.2 million for attorneys’ fees, expenses, administration costs, and class representative incentive awards. Your individual payment will be calculated on a pro rata basis tied to the total overdraft fees associated with your account during the qualifying period. In plain terms, the more you were charged in overdraft fees, the larger your share. To illustrate: if the settlement administrators determine that qualifying class members were collectively charged $500 million in overdraft fees, and your account was charged $1,000, your share of the $155.8 million net fund would be roughly proportional — around $311 in this hypothetical scenario.
The exact per-person amount will not be known until the claims process closes and the administrators calculate the total pool of verified claims. However, if you were someone who routinely overdrafted on small purchases — a $4 coffee triggering a $36 fee, for example — those fees add up fast, and your payout could be meaningful. One limitation to keep in mind: if you opt out of the settlement, you retain the right to sue Truist individually, but you forfeit any payment from this settlement fund. For most people, the pro rata payment will be the better option, because individual lawsuits are expensive and time-consuming. The exception might be someone who was charged an extraordinarily large amount in fees and believes their individual claim is worth pursuing separately — but that would be a conversation for a personal attorney, not a decision to make lightly.
Why Did This Case Take 15 Years to Settle?
The core legal argument in *Bickerstaff v. SunTrust Bank* was unusual for an overdraft fee case. Rather than arguing that the fees were simply unfair or deceptive, the plaintiffs claimed that SunTrust’s overdraft charges were actually disguised interest — and that they violated Georgia’s usury statute, which caps the interest rates lenders can charge. This legal theory required the court to reclassify what banks had long treated as a flat service fee into something more akin to a finance charge, which was a contested and novel interpretation. SunTrust (and later Truist) fought this characterization aggressively. The case wound through the State Court of Fulton County, up through Georgia’s appellate courts, and the defendants sought review from the U.S. Supreme Court.
In January 2026, the Supreme Court declined to hear Truist’s appeal, effectively ending the bank’s last avenue to avoid liability. The settlement agreement was signed that same month. The prolonged timeline is a reminder that class action lawsuits, even strong ones, can take years or decades to produce results. For class members who were charged these fees in 2006 or 2007, they have been waiting nearly 20 years for restitution. The length of this case also had a financial consequence for Truist. According to American Banker, Truist took a charge against its earnings to cover the settlement. For a bank that reported billions in annual revenue, a $240 million hit is absorbing but not existential — though it does serve as a precedent that could make other banks think twice about how they structure overdraft programs.
Key Deadlines and How to File Your Claim
The most important dates for eligible class members are as follows. The opt-out deadline is April 20, 2026, and opt-out requests must be postmarked by that date (or received by May 4, 2026). The fairness and final approval hearing is scheduled for May 26, 2026, at 1:30 p.m. Claim forms will be mailed and/or emailed to eligible class members after the court grants final approval at that hearing. The expected claim deadline is approximately late August 2026 — roughly 60 days after claim forms go out. Payouts are expected by November 2026 or earlier. Here is the tradeoff you need to understand: you do not need to do anything right now to file a claim, because claim forms are not yet available.
But you should take steps now to ensure the settlement administrator can reach you. Visit the official settlement website at [www.SunTrustOverdraftClassAction.com](https://suntrustoverdraftclassaction.com/) and verify your contact information. You can also call 1-877-239-8765 with questions. If you have moved since your SunTrust account was active, updating your address is the single most important thing you can do right now. Missing a mailed claim form because of an outdated address is the most common way people lose out on settlement payments. If you are considering opting out to pursue your own lawsuit, weigh that decision carefully. Opting out means you receive nothing from the $155.8 million pool, and any individual action would require you to hire an attorney and litigate on your own. For the vast majority of class members, staying in the settlement and filing a claim when forms become available is the straightforward choice.
Common Pitfalls That Could Cost You Your Payout
The biggest risk is inaction. Because claim forms will be sent automatically after final court approval, some people assume the money will just show up. That is not how it works. You will still need to complete and return a claim form by the deadline — likely late August 2026. If you ignore the form or miss the deadline, you get nothing, regardless of how much you were charged in overdraft fees. Another common issue involves scams. Anytime a large settlement is announced, fraudulent emails, texts, and websites appear claiming to help you file a claim — often for a fee.
The official settlement website is [SunTrustOverdraftClassAction.com](https://suntrustoverdraftclassaction.com/) and the official phone number is 1-877-239-8765. You should never pay anyone to file a claim on your behalf. Legitimate class action settlements do not require you to pay anything to participate. A less obvious pitfall involves deceased account holders. If a family member who had a SunTrust account has passed away, the estate may still be eligible for a share of the settlement. However, navigating the claims process for a deceased person requires additional documentation, and the estate’s executor or administrator should handle the filing. Waiting until the last minute to sort this out is a recipe for missing the deadline.
What This Settlement Means for Current Truist Customers
If you currently bank with Truist, this settlement does not change your existing account terms or fee structure. The overdraft practices at issue were specific to SunTrust’s policies between 2006 and 2014, and modern overdraft fee regulations have evolved considerably since then. Truist, like many large banks, has already modified its overdraft programs in response to regulatory pressure and competitive shifts — for example, several major banks have eliminated or reduced overdraft fees entirely in recent years.
That said, this case is a useful reminder to review your current bank’s fee schedule. If you are still being charged $36 for overdrawing by a few dollars, it may be worth comparing alternatives. Some banks and credit unions now offer grace periods, lower overdraft fees, or fee-free overdraft protection linked to savings accounts. The $240 million SunTrust settlement exists because millions of small-dollar fees added up to an enormous sum — a pattern that continues at banks nationwide.
The Broader Impact on Bank Overdraft Practices
The *Bickerstaff* case is part of a larger wave of overdraft fee litigation that has reshaped how banks handle these charges. Over the past decade, federal regulators, state attorneys general, and private plaintiffs have challenged overdraft practices at institutions ranging from national banks to regional credit unions. The argument that overdraft fees function as illegal interest rather than flat service charges is a legal theory that, if adopted more broadly, could expose other banks to similar liability in states with usury statutes.
For consumers, the practical takeaway is this: bank fees that seem fixed and non-negotiable can sometimes be challenged in court, especially when they disproportionately affect small transactions. The SunTrust settlement demonstrates that even when litigation takes 15 years, accountability is possible. Whether this leads to meaningful industry-wide reform or remains an outlier will depend on how other courts and regulators respond — but the $240 million price tag sends a clear signal.
Frequently Asked Questions
Do I need to do anything right now to get my share of the SunTrust settlement?
Claim forms are not yet available. They will be mailed or emailed after the court grants final approval at the May 26, 2026 hearing. Right now, the most important step is to visit [SunTrustOverdraftClassAction.com](https://suntrustoverdraftclassaction.com/) and make sure your contact information is current so you receive the claim form when it is sent.
I no longer bank with SunTrust or Truist. Am I still eligible?
Yes. You do not need to be a current customer. If you held a SunTrust account as a Georgia resident and were charged qualifying overdraft fees between July 12, 2006 and April 15, 2014, you are likely a class member regardless of whether you closed the account.
How much will I receive from the settlement?
Individual payments will be calculated on a pro rata basis based on the overdraft fees charged to your account during the qualifying period. The more you were charged, the larger your share of the approximately $155.8 million net fund. Exact amounts will not be determined until the claims process is complete.
What happens if I opt out of the settlement?
If you opt out by the April 20, 2026 deadline, you will not receive any payment from the settlement fund, but you retain the right to pursue your own individual lawsuit against Truist. For most people, staying in the settlement is the better option.
Is this settlement a scam?
No. *Bickerstaff v. SunTrust Bank* is a legitimate case filed in the State Court of Fulton County, Georgia. The official settlement website is [SunTrustOverdraftClassAction.com](https://suntrustoverdraftclassaction.com/) and the official phone number is 1-877-239-8765. Be cautious of any third party asking you to pay a fee to file a claim — the official process is free.
I lived in Georgia when I had my SunTrust account but have since moved. Do I still qualify?
Yes. The Georgia residency requirement applies to when the overdraft fees were incurred, not where you live today. If you were a Georgia resident at the time you were charged the fees, you should still be eligible.
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