Claim: The Navy Federal Credit Union (NFCU) is paying a $5.5 million settlement to customers affected by International Service Assessment (ISA) fees.
✅ Verdict: True
A class action lawsuit was filed against Navy Federal Credit Union (NFCU), alleging that the company improperly charged International Service Assessment (ISA) fees on debit card transactions. The lawsuit claims that some customers were charged this fee even when they had not conducted international transactions or were physically in the U.S.
The case was settled for $5.5 million, and affected customers are eligible for a share of the settlement if they meet the required conditions.
Claim: NFCU is automatically paying affected customers their share of the settlement.
❌ Verdict: False
Eligible customers must file a valid claim before the deadline to receive their settlement payout. The NFCU will not automatically distribute payments to customers without a claim submission.
To qualify, claimants must:
- Have used an NFCU debit card between August 9, 2016, and March 24, 2023.
- Have been charged at least one ISA fee during this period.
- Submit a valid claim before the August 8, 2024, deadline.
Claims can be submitted through official legal settlement websites (e.g., injuryclaims.com). Always check official sources to ensure you’re using the correct website.
Claim: Every affected NFCU customer will receive $4 from the settlement.
🔶 Verdict: Partially True
While reports suggest a base payment of up to $4 per affected customer, the actual amount depends on the total number of valid claims and deductions from the total settlement fund. The final payout could be higher or lower than $4 per person.
Claim: The final hearing on the settlement was on July 24, 2024, and payments will be issued soon after.
✅ Verdict: True
The final hearing for the NFCU Class Action Lawsuit was scheduled for July 24, 2024. If the court approves the settlement, payments will be issued later in 2024, but the exact date has not yet been announced.
Customers should check official updates on the settlement’s progress.
Claim: NFCU admitted to wrongdoing and settled the lawsuit.
❌ Verdict: False
NFCU denied any wrongdoing but agreed to settle the lawsuit to avoid further legal costs. This is a common legal strategy in class action cases.
Fact Check Summary:
- ✅ The NFCU $5.5 million settlement is real, and affected customers can file claims.
- ❌ Payments are NOT automatic—eligible customers must file a claim before August 8, 2024.
- 🔶 Claimants may receive around $4, but the final amount depends on the number of claims.
- ✅ The final settlement hearing occurred on July 24, 2024, and payments will follow, but the exact dates are not yet confirmed.
- ❌ NFCU did not admit wrongdoing, but settled the case to resolve the dispute.
Next Steps for Customers:
- Check your NFCU debit card history to see if you were charged an ISA fee between August 9, 2016, and March 24, 2023.
- File a claim before August 8, 2024, through legitimate settlement websites.
- Monitor official updates for payment dates.
For the latest information, visit official government or class action websites. Be cautious of scam websites asking for personal banking details.