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A Superior Court judge has allowed a putative class action to go forward that alleges a local bank unlawfully maximizes its revenues from overdraft fees by delaying the availability of deposits and piling on the charges whenever a debit transaction that has initially been returned for insufficient funds is resubmitted for payment. Judge Peter B.
WORCESTER — Leominster-based Fidelity Bank and its former President John F. Merrill agreed to pay $22.5 million Friday to settle claims against them in a class-action lawsuit over the multibillion-dollar TelexFree Ponzi scheme. The bank allowed TelexFree — one of the owners of whom is Merrill’s brother — to deposit large sums of money in bank accounts shortly before the scheme unraveled, though Merrill and the bank have not been criminally charged. A lawyer for Fidelity, Ian D. Roffman, said Friday the bank and Merrill continue to deny any prior knowledge that TelexFree was a ...