Cadence Bank, a regional banking institution with over 400 locations in the U.S., recently settled a $4.5 million class action lawsuit over allegations of charging unfair overdraft fees on debit card transactions. The settlement benefits consumers who were charged an "APSN Fee" between January 11, 2019, and November 15, 2023. Reportedly, these fees were levied even when transactions were initiated with a positive balance. The bank has not admitted to any wrongdoing but has agreed to the settlement to resolve the accusations. Alongside the $4.5 million, Cadence Bank has also agreed to forgive up to $682,000 in unpaid APSN fees, bringing the total settlement value to approximately $5.2 million. Class members are set to receive a proportional share of the net settlement fund based on the amount they paid in APSN fees during the class period. In a related matter, Cadence Bank also faces allegations of overcharging ATM withdrawal fees in a separate class action case. The final approval hearing for the Cadence Bank overdraft fee settlement is scheduled for May 9, 2025.