Webster Bank confirmed today that it has entered into an agreement to settle a class action lawsuit, filed in Connecticut, in April 2010, arising from its assessment and collection of overdraft fees on its checking account customers. While Webster Bank continues to believe its practices were both proper and lawful, Webster agreed to pay $2.8 million fully and finally to resolve the litigation, and avoid any further expense and distraction occasioned by the litigation. The settlement, which is subject to approval by the U.S. District Court for the District of Connecticut, would also fully and finally resolve a nearly identical class action currently pending in New York.