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N.D. (NewsDakota.com) – The President and CEO of Gate City bank says a lawsuit accusing it of charging unfair overdraft fees was baseless and he’s pleased that its been dismissed.
An Underwood, North Dakota woman filed the suit through lawyers in Minneapolis and Los Angeles. Bank President Steve Swointek says the woman never had a case.
Swointek says Gate City spent $200,000 in time and legal fees defending itself. He says that money could been better used in the communities that Gate City serves.
The lawsuit was one of several across the country that claimed some banks were changing the sequence of checks resulting in extra charges.