FirstMerit Bank: Huntington to pay $16 million to settle suit brought against FirstMerit

Huntington Bancshares will pay $16 million to settle a class-action lawsuit brought against the former FirstMerit Bank of Akron, which Huntington purchased.FirstMerit was accused of rearranging debit-card transactions to increase the number of checking-account overdrafts so that the bank could charge more fees.The settlement covers debit-card transactions from March 16, 2005 to Aug. 13, 2010.Both banks have maintained they have done nothing wrong and that FirstMerit [...]