Jeffrey Stephenson, et al. v. Navy Federal Credit Union

If You Had an Account with Navy Federal Credit Union and Submitted a Claim for Unauthorized and/or Fraudulent Transactions That Was Denied Between October 10, 2022, and August 20, 2025, You May Be Entitled to a Payment from a Class Action Settlement. 
 

A court authorized the Notice. This is not a solicitation from a lawyer. You are not being sued.

PLEASE READ THE LONG-FORM NOTICE CAREFULLY
 

There is a proposed settlement in the class action lawsuit Jeffrey Stephenson, et al. v. Navy Federal Credit Union, Case No. 3:23-cv-01851 (the “Class Action”), which claims that Navy Federal Credit Union (Navy Federal) violated the Electronic Funds Transfer Act (EFTA) by: (a) improperly denying claims by credit union members of unauthorized electronic fund transfer(s); (b) failing to provide sufficient explanation regarding the basis for its denial; and (c) failing to provide, upon request by a member, documents relied on in making its determination. Navy Federal denies that it did anything wrong, but it agreed to the settlement to avoid the uncertainties and expenses associated with continuing the case.  The Court has not decided which side is right.

Settlement Class Members will be eligible to receive a pro rata (meaning equal) portion of the Settlement Fund if they submit a valid and timely Claim Form. As part of the Settlement, Navy Federal agreed to implement changes to its policies and procedures relating to the handling of claims concerning unauthorized electronic fund transfers. This Settlement does not release any claims for actual damages based on or related to Navy Federal’s purported improper denial of a claim of unauthorized electronic transfer(s). 

The Court will hold a Final Approval Hearing on February 4, 2026. The motion for final approval and motion for attorney’s fees and costs will be posted here by November 14, 2025.

 

IF YOU ARE A SETTLEMENT CLASS MEMBER, YOUR LEGAL RIGHTS ARE AFFECTED WHETHER YOU ACT OR DON’T ACT

• These rights and options—and the deadlines to exercise them—are explained in the Long-Form Notice.
• The Court must decide whether to approve the Settlement, attorneys’ fees, expenses and service awards. No Settlement benefits will be provided unless the Court approves the Settlement.