Bank of America Late Fee Settlement Checks in the Mail

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TCA viewers are reporting that they are receiving late fee class action settlement checks for as much as $200 from the Bank of America class action lawsuit.

Class Members who were charged a late fee by Bank of America NA (USA) because of the bank and/or its successor-in-interest FIA Card Services NA failed to apply same-day credit have been mailed Bank of America settlement checks. If they have not yet received them in the mail, qualifying consumers should expect to find them in the mail soon.

These Bank of America settlement checks stem from the late fee class action lawsuit, a group of several Bank of America class action lawsuits that were consolidated in 2009, all of which similarly allege that BofA breached contracts with credit card holders and committed misleading, unfair and deceptive trade practices. Specifically, the plaintiffs of the Bank of America late fee class action lawsuit claims the bank charged improper late fees to credit card customers who made on-time payments to their credit accounts.

Bank of America and FIA Card Services deny all allegations of wrongdoing in this late fee class action lawsuit, but have agreed to settle the case in order to avoid further court costs as well as the uncertainty of continued litigation. Per the terms of the Bank of America class action settlement, the bank and FIA have agreed to pay $10 million to establish a late fee settlement fund for qualifying BofA credit card consumers.

You are a Class Member of this Bank of America late fee class action settlement if you are a current or former BofA credit card holder who made on time payments on or before the due date, and yet you were still charged a late payment fee during the Class Period of April 1, 2005 and Oct. 19, 2006. The deadline to file a claim for this class action settlement passed on Jan. 8, 2015.

When this late fee class action settlement was given preliminary approval in May of last year, it was estimated that Class Members would receive up to $40 for each on-time credit card payment. Class Members who were charged multiple late fees for their on-time credit account payments will be able to recover up to $200, equal to the a maximum of five qualifying payments, if they submitted their claim forms on time. As seen in the comments above, some TCA viewers who were qualifying Class Members of this late fee class action settlement have already received checks of up to $200 in the mail.

Congratulations to our Top Class Actions readers who submitted a valid claim and got PAID! If you missed out, sign up for our free newsletter to receive updates on new class action lawsuits and settlements. You can also check out which class action settlements are still accepting claims in our Open Class Action Settlements section.

The Bank of America Late Fee Class Action Lawsuit is Heydee De Leon, et al. v. Bank of America NA (USA), 6:09-cv-01251-JA-KRS, in the U.S. District Court for the Middle District of Florida, Orlando Division.