In April 2020, a class-action lawsuit
was filed against Simmons Bank for allegedly misrepresenting that the bank charges only one insufficient funds or overdraft fee on a single transaction when, according to the complaint, the bank charges another fee each time a transaction is reprocessed for payment resulting in multiple fees on a single transaction. (Wilkins et al v. Simmons Bank
, Case No. 20-cv-116, E.D. Ark.)
For more of TINA.org’s coverage of banks, click here.