| 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 | Pending, not accepting claims yet |
| Claim deadline | None announced |
| 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) |
No class action lawsuit against U.S. Bank is taking customer claims as of September 29, 2026. The only live settlement is a $250,000 ERISA case over fees in the employee 401(k) plan, and it needs no claim form: the fairness hearing was August 19, 2026, and payments go out automatically once the judge signs a final approval order. For anyone searching “class action lawsuit us bank” as a checking or credit card customer, the honest answer is that the big consumer payouts (the $55 million overdraft deal and two CFPB orders) have already been paid.
Where the 401(k) settlement stands after the August hearing
It is waiting on the court. When we checked the official settlement website in September 2026, its documents page still listed only the preliminary approval order and the amended settlement agreement from January 13, 2026. No final approval order or judgment was posted, so no payment date exists yet.
The class covers participants and beneficiaries of the U.S. Bancorp employee savings plan at any time from January 5, 2017, through final approval. Plan fiduciaries are excluded. The lawsuit alleged the plan’s fiduciaries let participants pay excessive fees, a breach of duty under ERISA, the federal law governing workplace retirement plans. 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. With a class that spans nine years 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 our 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. Two orders are the ones people confuse with a lawsuit:
- 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, after the payments were made.
- 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.
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 fees. It was part of a multidistrict case against more than 30 lenders. For other banks’ fee and account cases, see our Wells Fargo and Capital One pages.
The 2026 FIS card data breach: an investigation, not a U.S. Bank settlement
No data breach suit 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. As of September, one firm was investigating a possible case. An earlier 2022 vendor mistake exposed Social Security numbers of about 11,000 customers, and we found no class settlement from it. New cases appear on our data breach settlements list.
If you were in the 401(k) plan, confirm your mailing address with the plan and watch the official site for the final approval order. You do not need to submit a claim form. If you are a customer looking for a class action lawsuit against U.S. Bank, there is none to join right now, so keep any breach letter, check for new filings, and read how joining a class action works before handing personal data to any site that contacts you.
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) fee 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 September 29, 2026.
Has the U.S. Bank 401(k) settlement been approved?
Not as far as the public record shows. The fairness hearing was August 19, 2026, but when we checked in September no final approval order was posted on the settlement website. 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 closed it in August 2025 after redress was paid. There was never a claim form.
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. It is under investigation by a law firm, 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.