Johnson v. BOKF National Ass'n, No. 18-11375 (5th Cir. 2021)Annotate this Case
The Fifth Circuit affirmed the district court's dismissal of plaintiff's putative class action against the Bank for failure to state a claim because extended overdraft charges were not "interest" under the National Bank Act of 1864. In this case, deference to the Office of the Comptroller of the Currency's interpretation of these regulations is appropriate, and the agency's determination in Interpretive Letter 1082 that the type of bank fees at issue here—that the Bank refers to as extended overdraft charges—are noninterest charges is a sufficient basis to resolve this case. The court explained that, because extended overdraft charges are non-interest charges, they are not subject to the Act's usury limits. Finally, the court concluded that plaintiff already availed herself of the opportunity the district court provided to conduct discovery, and because plaintiff's complaint is deficient under Federal Rule of Civil Procedure 8, she is not entitled to discovery.