The Herald, Sharon, Pa.

Breaking News

Local News

July 22, 2013

Settlement OK’d in class suit against FNB

HERMITAGE — A federal judge last month approved a class action settlement of two lawsuits filed over the resequencing of debit card transactions at Hermitage-based First National Bank.

While resequencing – processing transactions out of chronological order to generate more overdraft fees – is legal and FNB denied any wrongdoing or liability, the bank agreed to the settlement and to change its disclosure and customer reporting practices to avoid the costs of fighting the suits.

The bank set aside $3 million for the settlement, of which $1 million will go for legal fees, $103,353 for reimbursement of legal expenses and $3,000 each in “case contribution awards” to the plaintiffs, Kimberly and Kevin Ord and Joan Clarey.

That leaves an average of almost $30 each for the 63,319 customers eligible to receive settlement benefits through checks or credits to their accounts. That amount could be lower as settlement administration costs also are to be pulled from the settlement pool.

The class is defined as FNB customers who incurred overdraft fees as a result of resequencing from June 1, 2006, through Feb. 8.

The bank agreed to modify its disclosures on how it processes overdraft transactions and change its paper account statements to show the actual order in which the bank posts transactions.

Resequencing has been the subject of lawsuits against larger financial institutions that resulted in settlements in the hundreds of millions of dollars.

1
Text Only
Local News
  • Farrell man, 24, arrested on warrant in connection with April shooting

    Federal marshals and local police arrested Dontae Rashad Pinkins Thursday on a warrant accusing him of involvement in an April shootout in Sharon.


    Pinkins, 24, of Farrell, is in Mercer County Jail after failing to post bond on gun charges.

    Additional details to follow.
     

    July 25, 2014

  • Firm will study timing of traffic signals

    Hermitage commissioners on Wednesday hired Whitman, Requardt and Associates LLP to study the timing scheme of traffic signals along parts of Hermitage Road and East State Street.

    July 25, 2014

  • 3 area fire depts. awarded grants

    Three area fire departments will share in more than $590,000 in grants meant to help Pennsylvania’s rural communities guard against the threat of fires in forests and other undeveloped areas, Department of Conservation and Natural Resources Secretary Ellen Ferretti announced.

    July 25, 2014

  • One suspect in home shooting is jailed

    The first of three suspects police say were involved in an attempted robbery that ended in a shooting is in jail.

    July 25, 2014

  • Dancing kids K.I.D.S. day

    Hoping to reach children at just the right age, when they are old enough to understand but not past the point where it may be too late, Mercer County Behavioral Health Commission counselors held an “alternative activities” day at the courthouse Thursday, complete with music and dancing, hot dogs and treats, games and T-shirts.

    July 25, 2014 2 Photos

  • Better security Grant available to boost security in district courts

    County officials are looking to quickly upgrade security systems in the five district judge offices, not due to an increase in risk, but because current systems are antiquated and there is a short window to apply for some financial help with the costs.

    July 24, 2014 1 Photo

  • Officials split over selling older monitors

    What to do with a pile of older LCD computer monitors, keyboards and mice remains up in the air until the third, and often absent, county commissioner makes a decision.

    July 24, 2014

  • Police anxious to talk with victim

    Sharon police want to talk to a West Hill man about several other men who came to his house shortly before he was shot and critically wounded Tuesday.

    July 24, 2014

  • AED presentation Heart-friendly pool

    The Lackawannock-Shenango-West Middlesex Pool has some pretty obvious changes from when it was opened almost 46 years ago.

    July 24, 2014 4 Photos

  • Sharon man 'stable' after being shot in his West Hill home

    A Sharon man was in stable condition this morning after being shot by one of several men he had let into his West Hill home, police said.

    July 23, 2014

  • GJR killer not eligible for parole, court rules

    State Superior Court on Tuesday reversed a local judge’s decision that the sentence for one of two men who killed a night supervisor at George Junior Republic, Pine Township, was unconstitutional.

    July 23, 2014

  • Duplicated files, former worker confesses

    A Mercer woman accused of stealing customer lists, billing information and other data from her former employer headed off trial Monday by pleading guilty to a charge of unlawful duplication.

    July 23, 2014

  • Starved house Vandals vent their emotions

    Vandals kept police busy Sunday and Monday nights at a home in Greenville where the Mercer County District Attorney’s office said a boy was starved and beaten by his mom.

    July 23, 2014 1 Photo

  • Couple, another man charged in thefts

    Pennsylvania State Police have filed charges of burglary, theft, receiving stolen property and criminal mischief against an East Palestine, Ohio, couple and another man in connection with two robberies in rural Mercer County.

    July 22, 2014

  • Taking stock Where’s the beef? Bull’s still missing

    Is it possible that an alien abduction took place in the Mercer area last week? A solid red, 2-year-old Watusi bull with 3-foot-long horns has been missing since July 14 with no trace of its existence left on earth.

    July 22, 2014 1 Photo