Former SunTrust Bank customers who were charged overdraft fees under disputed practices can now file claims for payments ranging from $5 to $1,000 from a settlement fund of up to $240 million. The deadline to submit a claim is September 14. The resolution follows years of litigation in Bickerstaff v. SunTrust Bank, which ended after every level of judicial review, from Georgia state courts to the U.S. Supreme Court, sided with or declined to disturb rulings against the bank.
How the $240 million SunTrust overdraft settlement reached finality
The path to this payout was long and contested. A trial court order dated March 4, 2024, found SunTrust liable for its overdraft fee practices. The Georgia Court of Appeals upheld that ruling on February 20, 2025, and the Georgia Supreme Court denied further review. SunTrust’s parent company, now operating as Truist Financial Corporation, then asked the U.S. Supreme Court to take the case. On January 12, 2026, the Court declined to hear the bank’s petition for review in case No. 25-585, as reflected on the Court’s public docket, closing the bank’s last avenue for appeal.
Eight days later, on January 20, 2026, the two sides entered a settlement agreement. A court granted preliminary approval on January 23, 2026, and a final approval hearing was scheduled for May 26, 2026. Truist disclosed the full timeline and the structure of a fund of up to $240 million in a quarterly report filed with the SEC for the period ending March 31, 2026; that filing describes the company’s agreement to resolve the overdraft litigation and outlines the maximum exposure associated with the settlement fund.
That sequence matters for anyone weighing whether to file a claim. The exhaustion of appeals means the settlement is not a tentative offer that could collapse if the bank wins on a later legal theory. The fund exists because every court that reviewed the case either ruled against SunTrust or refused to reconsider, and Truist has now recorded the financial impact of the agreement in its public filings.
What eligible SunTrust customers should do before September 14
Eligible claimants are former SunTrust customers who were charged overdraft fees under the practices challenged in the Bickerstaff litigation. Individual payouts range from $5 to $1,000, drawn from the settlement fund of up to $240 million disclosed by Truist. The exact amount each person receives will depend on factors tied to their account history and the total number of valid claims filed, including how many overdraft fees they incurred under the disputed posting and assessment practices.
The most direct step for anyone who held a SunTrust checking account and was assessed overdraft fees is to check for a settlement notice, which would have been sent to class members after preliminary approval was granted in January. That notice should explain how to file online or by mail, what documentation (if any) is required, and how to correct address or name information. Customers who no longer have access to their old SunTrust account records should still be able to file, because the bank’s internal data is expected to be used to verify eligibility and calculate awards.
Filing before the September 14 deadline is the single action that determines whether an eligible customer receives anything at all. Missing the deadline forfeits the right to a share of the fund, even though the underlying case has already been decided. Consumers who believe they are part of the class but did not receive a notice can typically contact the settlement administrator identified in court filings or on official case websites to confirm their status and request personalized claim information.
Unresolved questions about payout size and broader bank exposure
Several details remain unclear from the public record. The exact formula used to calculate whether a claim falls closer to $5 or $1,000 has not been fully described in Truist’s SEC disclosure, and the final distribution plan may only be detailed in court-approved settlement documents that are not broadly summarized in earnings materials. It is also not yet public how many former SunTrust customers will ultimately file claims, a factor that could meaningfully affect the per-person recovery within the stated range.
Another open question is how much of the “up to $240 million” fund will actually be paid out to consumers versus remaining unused if participation is low. Class action settlements often see only a fraction of eligible class members submit claims, and it is not yet known whether the court will require any unclaimed funds to be redistributed to participating class members, directed to cy pres recipients, or revert in part to the defendant. Those mechanics can significantly change the effective value of each approved claim.
The case also highlights the continuing legal and reputational risks banks face over overdraft fee practices, even years after specific policies have changed or brands have merged. Truist, formed from the combination of SunTrust and BB&T, has already recognized the financial cost of this litigation in its regulatory filings, but the broader industry remains under scrutiny from regulators, courts, and the financial press. Outlets such as major business news providers have repeatedly focused on overdraft fees as a pressure point for banks, and the SunTrust settlement underscores how legacy practices can generate substantial liabilities long after they were first implemented.
For former customers, however, the immediate takeaway is straightforward: if you paid SunTrust overdraft fees that may fall within the scope of the Bickerstaff case, you now have a defined window to seek compensation. The legal fight is over, the settlement fund has been committed, and the remaining question is whether affected consumers will act in time to claim their share.
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