In Split Decision, Tenth Circuit Affirms Dismissal In Overdraft Charge Dispute

In a split decision, the United States Court of Appeals for the Tenth Circuit recently affirmed a lower court's dismissal in a suit in which a customer of a bank challenged the bank's overdraft charge practices and claimed they constituted usurious loans.  See Walker v. BOKF, Nat'l Ass'n, 2022 U.S. App. LEXIS 9708 (10th Cir. Apr. 8, 2022).  The plaintiff in the action holds a checking account with BOKF, National Association (the "Bank").  Plaintiff overdrew his checking account by $25.00 and the Bank paid the overdrafted amount.  The Bank then charged him a $34.50 overdraft fee and, after his account balance remained negative for more than five days, $6.50 as an "Extended Overdraft Charge" for each additional business day the account balance was negative.  The Bank made 36 overdraft charges against Plaintiff in total before Plaintiff made a sufficient deposit.  Plaintiff then brought this action, arguing that the extended overdraft fees were interest that exceed the