We have seen an uptick in class action lawsuits against Tennessee banks concerning the posting order of debit card transactions. The first wave of these cases hit large national and regional banks. The second wave of these cases is now hitting local banks.
You can take steps to reduce your bank's exposure to these types of lawsuits. A review of your current deposit agreement and the structure of any arbitration provision in that agreement is strongly advised.
Should you have any questions about steps to reduce exposure to these lawsuits, please call Woody Woodruff, Marlee Mitchell, Michael Harmon, or any member of Waller’s Financial Services Group.