$7.8 Million Settlement Reached with UMB Bank
In 2010, Stueve Siegel Hanson, Gray Ritter & Graham, and Tycko & Zavareei filed a lawsuit against UMB Bank and its affiliated entities alleging that the plaintiff, and other UMB customers who are citizens of Missouri, were charged overdraft fees because of UMB's unfair and deceptive overdraft fee practices. The lawsuit alleged that these practices violated Missouri's consumer protection law and UMB's contracts with its customers.
On May 13, 2011, UMB agreed to a $7.8 million settlement of the class action lawsuit.
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