US Bank Class Action Lawsuit 2026, Free Speech Case + $37.5M CFPB Fine—What Customers Need To Know About Multiple Legal Actions
US Bank faces multiple legal challenges in 2026, including a November 2024 class action lawsuit alleging the bank tried to silence unhappy customers through unlawful non-disparagement clauses, plus a separate $37.5 million Consumer Financial Protection Bureau fine for opening unauthorized accounts. Understanding which case affects you—and whether you have legal rights—requires knowing the specific allegations, court locations, and current status of each action.
There is no active consumer settlement yet where you can file claims, but ongoing litigation could change that.
The Free Speech Class Action: Case No. 2:24-cv-00154
A class action lawsuit was filed against U.S. Bank in November, while a separate class action lawsuit was filed against Bank of America earlier this month. Both have since been removed to a California federal court. The case is titled Aguilar, et al. v. US Bank NA, et al., Case No. 2:24-cv-00154 in the U.S. District Court for the Central District of California.
A group of U.S. Bank customers argue they were required to sign digital service agreements to use the financial institution’s website or mobile applications that waived their customers’ rights to make negative statements. The proposed class action accuses U.S. Bank of trying to unlawfully silence unhappy customers by embedding nondisparagement clauses in its online banking terms and conditions.
The lawsuit claims these clauses violate California consumer protection laws by preventing customers from sharing honest reviews or complaints about their banking experiences online or with consumer protection agencies. Similar allegations were raised against Bank of America in a parallel case.
The $37.5 Million CFPB Fine For Unauthorized Accounts
U.S. Bank will pay a $37.5 million fine to resolve the CFPB’s claims the bank’s employees opened unauthorized customer accounts. This is a regulatory penalty—not a class action settlement—meaning consumers do not receive direct compensation from this $37.5 million payment.
The Consumer Financial Protection Bureau investigation found U.S. Bank employees opened checking and savings accounts, credit cards, and lines of credit without customer authorization to meet sales quotas. This mirrors the Wells Fargo fake accounts scandal that resulted in billions in penalties.
However, unlike Wells Fargo’s $3 billion settlement that included $500 million for customer restitution, U.S. Bank’s $37.5 million CFPB fine goes to the government, not harmed customers. Affected customers must pursue individual claims or join class actions separately.
$450,000 Fair Credit Reporting Act Settlement (CLOSED)
U.S. Bank has agreed to a $450,000 class relief settlement to resolve class action lawsuit allegations it violated the Fair Credit Reporting Act (FCRA) by obtaining credit reports without purpose or permission.
The settlement class is defined as “all persons about whom, during the two-year period prior to the filing of the Complaint, Defendant obtained a consumer report after that consumer had obtained a bankruptcy discharge of any secured obligation such consumer owed to Defendant, and after that Defendant regained legal possession of the real property securing such obligation”.
This settlement is now closed—claims are no longer being accepted. However, it demonstrates U.S. Bank’s pattern of consumer protection violations that led to legal consequences.
Historic U.S. Bank Overdraft Fee Settlement: $55 Million
U.S. Bank has agreed to pay $55 million to settle class action lawsuits that accused the bank of improperly manipulating its customers’ debit card transactions in order to generate excess overdraft fee revenues.
The lawsuits, part of multidistrict litigation involving more than 30 different banks entitled In re Checking Account Overdraft Litigation, are pending before U.S. District Judge James Lawrence King in Miami. The lawsuits claim that U.S. Bank’s internal computer system re-sequenced the actual order of its customers’ debit card and ATM transactions, by posting them in highest-to-lowest dollar amount rather than in the actual order in which they were initiated by customers and authorized by the bank.
This settlement is also closed, but it established important precedent about overdraft fee manipulation practices that continue affecting banking litigation today. Similar cases against Chase, Wells Fargo, and Bank of America collectively resulted in hundreds of millions in settlements, demonstrating that seemingly small fees add up to massive consumer harm.
Current Status: What Consumers Can Do
As of February 2026, the free speech class action (Case No. 2:24-cv-00154) remains in early litigation stages. No settlement exists, and no claim forms are available. If you’re a U.S. Bank customer who signed digital service agreements containing non-disparagement clauses, you may already be part of the plaintiff class—but no action is required yet.
Similar to developments in the Westlake Financial Services $1.2M Class Action Lawsuit Settlement, How To File For Your Payout Before The May 2026 Deadline case, banking class actions often take 2-4 years to reach settlement agreements.
If U.S. Bank Opened Unauthorized Accounts In Your Name
The $37.5 million CFPB fine doesn’t create a claims process for affected customers. However, you have independent legal rights if U.S. Bank opened accounts without your permission:
- File a complaint with the Consumer Financial Protection Bureau at consumerfinance.gov
- Dispute unauthorized accounts with credit bureaus to remove negative marks
- Contact a consumer protection attorney about individual legal action
- Monitor your credit reports for accounts you didn’t authorize
Unlike the simple online claim forms available in cases like the Cash App Class Action Lawsuit Settlement Deadline PASSED, Two Major Payouts Coming In 2025 – Are You Eligible For Up To $2,500? settlement, unauthorized account victims typically need legal representation to recover damages.
U.S. Bank’s Response To Legal Challenges
In response to a request for comment, a U.S. Bank spokesperson told Banking Dive that the court filing outlines the bank’s position. U.S. Bank has not publicly admitted wrongdoing in the free speech class action or the CFPB unauthorized accounts case.
Banking industry representatives typically argue that terms and conditions are clearly disclosed when customers open accounts and that sales incentives don’t encourage misconduct. However, the $37.5 million fine and ongoing class action suggest regulators and courts view U.S. Bank’s practices differently.
FAQs About U.S. Bank Class Action Lawsuits
What is the current U.S. Bank class action lawsuit about?
The active class action (Case No. 2:24-cv-00154, filed November 2024) alleges U.S. Bank included unlawful non-disparagement clauses in digital banking agreements that prevent customers from making negative statements about the bank. The case is pending in California federal court.
Can I file a claim right now for U.S. Bank settlements?
No. The free speech class action hasn’t reached settlement stage. Previous U.S. Bank settlements (overdraft fees $55M, credit reports $450K) have closed their claim periods. No active claim forms currently exist.
Who is eligible for the U.S. Bank class action?
Anyone who signed U.S. Bank’s digital service agreements to access online or mobile banking and agreed to terms containing non-disparagement clauses may be class members. Formal class certification hasn’t occurred yet.
What about the $37.5 million CFPB fine?
This is a regulatory penalty paid to the government—not a settlement where consumers file claims. If U.S. Bank opened unauthorized accounts in your name, you must file individual complaints or lawsuits separately.
How do I check if U.S. Bank opened unauthorized accounts?
Review your credit reports from all three bureaus (Equifax, Experian, TransUnion) for accounts you didn’t authorize. Check your U.S. Bank statements for fees or accounts you didn’t request. File CFPB complaints if you find unauthorized activity.
When will the free speech lawsuit settle?
Banking class actions typically take 2-4 years from filing to settlement. With a November 2024 filing date, expect potential settlement negotiations in 2026-2027, with court approval and payments potentially arriving 2027-2028.
Where can I find official information?
Monitor Top Class Actions and ClassAction.org for case updates. For the federal case, search PACER.gov using Case No. 2:24-cv-00154. File CFPB complaints at consumerfinance.gov. Contact consumer protection attorneys for individual legal guidance.
The Bottom Line
U.S. Bank faces multiple legal challenges in 2026, but none currently offer consumer claim forms or settlement payments. The free speech class action could eventually result in compensation, but it’s years away from resolution. The $37.5 million CFPB fine punishes the bank but doesn’t compensate affected customers directly.
If you believe U.S. Bank harmed you through unauthorized accounts, unfair fees, or other violations, document everything and consider consulting a consumer protection attorney specializing in banking litigation. Individual legal action may be your best option while class actions develop.
Last Updated: February 6, 2026
Disclaimer: This article provides legal information about ongoing U.S. Bank litigation and regulatory actions. It is not legal advice. Affected consumers should consult qualified consumer protection attorneys about their specific situations.
Experienced banking fraud or unauthorized fees? Document all evidence and seek legal counsel immediately.
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About the Author
Sarah Klein, JD, is a licensed attorney and legal content strategist with over 12 years of experience across civil, criminal, family, and regulatory law. At All About Lawyer, she covers a wide range of legal topics — from high-profile lawsuits and courtroom stories to state traffic laws and everyday legal questions — all with a focus on accuracy, clarity, and public understanding.
Her writing blends real legal insight with plain-English explanations, helping readers stay informed and legally aware.
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