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The Boston Globe

Business

Citizens in $137.5m overdraft settlement

Citizens Bank customers hit with questionable overdraft fees could receive refunds under a settlement announced Wednesday in which the bank agreed to pay $137.5 million to settle charges it manipulated customers’ debit card and ATM transactions.

The bank was accused of processing the transactions in a way that made overdrafts more likely, boosting the income it collected from customers forced to pay overdraft fees.

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