Comerica, Elan Financial Beat Overdraft Protection Class Lawsuit

Comerica Bank and its credit card servicer, Elan Financial Services, won’t have to defend in court class claims that they enrolled customers, without consent, in overdraft protection to boost fees and interest rates after the Eastern District of Michigan granted Wednesday the bank’s motion to arbitrate.

Named plaintiff Abass El-Hage opened a checking account with Comerica in 2007 and then a Visa Platinum credit card in 2017 for which Elan was the servicer.

Comerica and Elan provided overdraft protection that advanced funds from a customer’s credit card to cover any overdraft in their checking account.

El-Hage alleges he was enrolled ...