Sterling Financial (STSA) in Spokane, Wash., said that two lawsuits filed over its bank's overdraft fees have been dismissed.
The suits, one filed in Washington state court and the other in Oregon federal court, claimed that Sterling Savings Bank improperly manipulated the order that debit card transactions were posted to generate a greater number of overdraft fees, the $9.6 billion-asset Sterling said. Plaintiffs sought class-action status to represent checking account customers of Sterling Savings in Washington, Oregon, California, Idaho and Montana.
The plaintiffs voluntarily dismissed their claims without any payments by Sterling, the company said Tuesday.