| Case | Dionicio et al. v. U.S. Bancorp et al., No. 0:23-cv-00026 (U.S. Bank 401(k) Savings Plan ERISA fees) |
| Court | U.S. District Court for the District of Minnesota |
| Status | Preliminarily approved; fairness hearing set for August 19, 2026; no final approval order posted as of October 31, 2026 |
| Claim deadline | None. No claim form is used |
| Estimated payout | No claim form. Pro rata share of a $250,000 fund after fees and costs. Current plan participants are credited in their 401(k) accounts; former participants get a check only if their share is $25 or more. Per person amount not published |
| Proof required | No |
| How to file | Official settlement website (not accepting claims) |
The only open class action lawsuit US Bank faces with money already set aside is a $250,000 ERISA settlement over fees in the employee 401(k) plan, and it pays automatically, with no claim form. Checking, savings, mortgage, and credit card customers have no U.S. Bank settlement to file in as of October 31, 2026. The large consumer payouts people remember (the $55 million overdraft deal and two CFPB orders) were paid out years ago, and the official 401(k) site still shows no signed approval order after the August 19, 2026 fairness hearing date.
Which U.S. Bank Case Matches Your Relationship With the Bank
Each group lands in a different place. U.S. Bank National Association is the Minneapolis-based banking subsidiary of U.S. Bancorp, and suits name one or both.
| If you are | What exists | Can you get paid now? |
|---|---|---|
| Current or former employee in the 401(k) plan since January 5, 2017 | $250,000 ERISA settlement | Automatic after final approval; nothing to file |
| Checking or credit card customer | Closed overdraft case; two terminated CFPB orders | No open claim process |
| Customer who got a 2026 breach letter | Law firm investigation of the FIS vendor incident | No settlement; no claim form |
| Anyone who paid a surcharge at a nonbank ATM | $167.5 million Visa and Mastercard settlement (not a U.S. Bank case) | Claims due February 10, 2027 |
| Shareholder who bought USB stock in 2019 to 2022 | 2022 securities fraud class action | No claim process published |
The ATM row trips people up. Burke v. Visa Inc. (D.D.C., No. 1:11-cv-01882) covers people charged an access fee at an independent ATM from October 24, 2007, to August 14, 2026, and not fully reimbursed by their bank. A U.S. Bank debit card holder can qualify, but Visa and Mastercard pay. Opt-outs are due December 11, 2026. Other dated cases sit on the open claim deadlines list.
The 401(k) Class Action Lawsuit US Bank Employees Are Waiting On
It is waiting on a judge’s signature. As of October 31, 2026, the official settlement website’s documents page lists the amended settlement agreement (Dkt. 144), the preliminary approval order (Dkt. 151), and a second amendment to the agreement (Dkt. 153-1), but no final approval order or judgment. Until that order is entered, no payment date exists, and there is nothing for class members to submit.
The class covers participants and beneficiaries of the U.S. Bank 401(k) Savings Plan at any time from January 5, 2017, through the date the court enters final approval. Plan fiduciaries are excluded. Plaintiffs Ana Dionicio and Alejandro Wesaw sued in January 2023, alleging the plan’s fiduciaries let participants pay excessive fees, a breach of duty under ERISA, the federal law that governs workplace retirement plans. In March 2024, Chief Judge Patrick J. Schiltz dismissed the managed account claims but let the rest proceed. U.S. Bancorp agreed to settle without admitting wrongdoing.
The fund math most summaries skip
The gross fund is $250,000, but the settlement allows up to $83,333.33 in attorney fees, up to $105,000 in litigation expenses, and a service award of up to $7,500 for the named plaintiff. If the court approves all three in full, $195,833.33 comes off the top, leaving at most $54,166.67 (before administration costs) to split across every eligible account. Spread over nearly a decade of employees, most individual shares will be small.
- Current participants: the money goes directly into the plan account and is invested according to your existing elections, with no taxes withheld.
- Former participants: a paper check, with taxes withheld if applicable, mailed only if your share is $25 or more. Below that, nothing is sent.
That $25 floor matters. A former employee with a small balance may be a class member and still receive nothing. Tax treatment for rollovers and checks is covered in the guide to whether settlement money is taxable.
Why the CFPB Fines Did Not Open a Claim Form
A CFPB consent order is not a class action. The Consumer Financial Protection Bureau, the federal agency that polices consumer finance, sues or settles on its own authority, sets the redress, and the institution pays affected customers directly. There is no class, no class counsel, and nothing to file. The difference is explained in what a class action is. Two orders get mistaken for lawsuits:
- July 28, 2022, unauthorized accounts: the CFPB found employees opened credit cards, lines of credit, and deposit accounts without customer consent and pulled credit reports without a permissible purpose. Penalty: $37.5 million, plus redress. The CFPB terminated the order on August 21, 2025.
- December 19, 2023, ReliaCard unemployment cards: during COVID-19, frozen prepaid cards left jobless workers unable to reach their benefits. The order required $5.7 million in consumer redress and a $15 million penalty; the OCC issued a separate $15 million fine. That order ended September 22, 2025.
Both are finished. Sites still advertising “join the $37.5 million lawsuit” are law firm intake funnels, not a settlement. An unsolicited text or email asking for your online banking login in connection with either order is a fraud pattern, not a payout.
The 2022 order did spawn a shareholder suit: a securities fraud class action filed in the Southern District of New York in October 2022 (Buhrke Family Revocable Trust v. U.S. Bancorp, No. 22-cv-09174), covering stock buyers from August 1, 2019, to July 28, 2022. It covers investor losses only, and no settlement for it has been published.
Past U.S. Bank Class Action Lawsuits and What They Paid
Every earlier class action settlement is closed and paid. The biggest ones, oldest first:
| Case | Who it covered | Amount | How it paid |
|---|---|---|---|
| In re Checking Account Overdraft Litigation (S.D. Fla., 2012) | Checking customers hit by high-to-low debit reordering | $55 million | Automatic: account credits or checks, done by June 2014 |
| Thomas v. U.S. Bank (Jackson County, Mo., 2012) | About 2,400 second-mortgage borrowers | $92 million | Checks from about $250 to $142,257, plus loan offsets |
| California loan officer wage case (S.D. Cal., 2020) | About 840 mortgage loan originators | $6.5 million | Average about $4,800 per worker |
The overdraft deal is the one most customers remember. The claim was that debit and ATM transactions were posted largest first, draining balances faster and triggering more overdraft charges. It was part of a multidistrict case against more than 30 lenders. For other banks’ account cases, see the Wells Fargo and Capital One pages.
The 2026 FIS Card Data Breach: An Investigation, Not a Settlement
No suit over it has settled. U.S. Bank learned on May 7, 2026, that a service provider supporting its vendor, Fidelity National Information Services (FIS), exposed cardholder names, mailing addresses, and credit card numbers. Notice letters went out around June 30, 2026. The Massachusetts filing lists 537 residents of that state; no national total was published. By late October 2026, law firm investigations were public but no filed class complaint could be confirmed. An earlier 2022 vendor mistake exposed Social Security numbers of about 11,000 customers, and no class settlement from it has been reported. New cases appear on the data breach settlements list.
What to Do Next, by Group
If you were in the 401(k) plan, confirm your mailing address with the plan and check the official site after each court date, since payments follow the approval order, often within months if no appeal is filed. If you paid nonbank ATM surcharges, file in the Visa and Mastercard settlement before February 10, 2027. Everyone else has no class action lawsuit US Bank customers can join today, so keep notice letters and statements, treat any “join now” offer tied to the closed CFPB orders as a lead form, and read how joining a class action works before giving personal data to any site that contacts you.
Sources
- usbank401ksettlement.com (1)
- usbank401ksettlement.com (2)
- usbank401ksettlement.com (3)
- govinfo.gov (Dionicio opinions)
- claimdepot.com
- topclassactions.com (1)
- consumerfinance.gov (1)
- consumerfinance.gov (2)
- dapeer.com
- topclassactions.com (2)
- wrrvlaw.com
- topclassactions.com (3)
- topclassactions.com (4)
- businesswire.com
U.S. Bank Class Action FAQ
Is there a class action lawsuit against U.S. Bank?
Yes, but only one with money attached: the $250,000 401(k) settlement for current and former employees, which is awaiting final approval. No consumer case for checking, credit card, or mortgage customers is taking claims as of October 31, 2026.
Has the U.S. Bank 401(k) settlement been approved?
Not as far as the public record shows. The fairness hearing was set for August 19, 2026, but as of October 31, 2026 the settlement website posts no final approval order. Payments start only after that order.
How much will I get from the U.S. Bank 401(k) settlement?
The per person amount has not been published. If fees and costs are approved in full, at most about $54,167 is left for the entire class before administration costs, so expect a small figure. Former participants whose share is under $25 receive nothing.
Can I still get money from the $37.5 million fine?
No. That was a CFPB enforcement order, not a class action, and the CFPB terminated it in August 2025. There was never a claim form.
Is U.S. Bank part of the ATM fee settlement?
No. The $167.5 million nonbank ATM settlement is paid by Visa and Mastercard. U.S. Bank customers can still qualify if they paid a surcharge at an independent ATM and were not reimbursed, with claims due February 10, 2027.
Is there an issue with U.S. Bank right now?
The most recent reported problem is the 2026 vendor breach exposing credit card numbers, disclosed in June 2026. Law firms are investigating it, with no lawsuit settled and no claim process.
This page explains public information about legal cases. It is not legal advice. For advice about your own situation, talk to a licensed attorney.