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This settlement is closed!
Please see what other class action settlements you might qualify to claim cash from in our Open Settlements directory!
Bank of America agreed to settle a class action lawsuit that accused the financial giant of unfairly collecting overdraft fees on debit card transactions.
Lead plaintiff Sherry L. Bodnar claimed that Bank of America charged overdraft fees to customers through assessments of their accounts that actually contained enough money to pay for the transaction.
The settlement agreement was reached after extensive negotiations between both parties. Under the terms, Bank of America will set aside $27.5 million for consumers who were charged an overdraft fee when their account had enough funds to cover the transaction.
Class Members will automatically receive benefits from this settlement unless they opt out no later than June 6, 2016.
Who’s Eligible
Bank of America settlement Class Members include all individuals in the U.S. who had a BofA consumer checking account and were charged an overdraft fee between May 25, 2011 and Feb. 5, 2016 on transactions that were authorized and approved when sufficient funds were available to cover the amount.
Potential Award
Varies.
The Bank of America class action settlement fund of $27.5 million will be divided with all Class Members based on the amount of overdraft fees each individual paid.
Proof of Purchase
N/A
Class Members don’t have to file a Claim Form or provide a Proof of Purchase, they will automatically receive a payment or account credit if the court approves the settlement at the final hearing.
Frequently Asked Questions
Exclusion Deadline
06/06/2016
Case Name
Sherry L. Bodnar v. Bank of America NA, Case No. 5:14-cv-03224, in the U.S. District Court for the Eastern District of Pennsylvania
Final Hearing
08/03/2016
UPDATE: On August 4, 2016, the court granted final approval of the Bank of America Overdraft settlement.  Let Top Class Actions know when you receive a check in the comments section below or on our Facebook page.
UPDATE 2, August 23, 2016: Appeals have been filed in the Bank of America Overdraft settlement. Claims will not be paid until all appeals are resolved. Top Class Actions will continue to provide updates as we learn more. Â
UPDATE 3: On September 7, 2016, the appeals were dismissed. Per the settlement website, account holders were issued credits on September 19, 2016. Class members that no longer have accounts will be issued checks in October 2016. Let us know when you receive a check in the comments section below or on our Facebook page.
Settlement Website
Claims Administrator
Bank of America Overdraft Litigation
PO Box 4178
Portland, OR 97208-4178
1-866-960-5963
info@BankofAmericaOverdraftSettlement.com
Class Counsel
Hassan Zavareei
Jeffrey Kaliel
TYCKO & ZAVAREEI LLP
Jeffrey M. Ostrow
Jason H. Alperstein
KOPELOWITZ OSTRO PA
James C. Shah
Natalie Finkelman Bennett
SHEPHERD FINKELMAN MILLER & SHAH LLC
Defense Counsel
Jessica Kaufman
Michael B. Miller
MORRISON & FOERSTER LLP
Andrew J. Soven
Jenai St. Hill
REED SMITH LLP
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96 thoughts onBank of America Overdraft Fees Class Action Settlement
SO my question is this. Given the dates of this class action suit against BOA and the fact that there have been several other class actions against BOA for the very reason. They were sued in California for this overdraft scam. My husband and I were members of that suit. And yes one of our accounts was eventually credited a whopping 80.00 because they settled at .10 cents on every dollar scammed!!! Well that’s how it figured with our accounts combined to what they owed us from overdraft charges alone!!! Now I wonder since these dates overlap and I have since closed all accounts with BOA. Am I also a member of this class action?? Or will they decided since I was paid once for what they stole from us I don’t get to collect again because of my stupidity of NOT CLOSING ALL my account as soon as I realized they were a bunch of thieving greedy bastards??? Even thought they again ripped us off with their new overdraft scam which is why I decided to finally close all my BOA accounts!!!
Td bank does the same thing and they will never get sued
I lost my account because the overdraft fees kept piling on. Then I was reported to ChexSystems and can’t open another account. I hope B of A gets hit hard.
They closed out the account my husband and I had to. They made it so there was not way to get ahead of them. I am so glad this is happening and I hope they get really hard. I do not use banks any more either. It is just not worth it and I have been able to get buy just fine without one and do not have the worries of checking my account balance every day to make sure something did not go wrong.
Please file a complaint! Please, 490.00 in fees, that are not your fault!!!! Hopefully, you will benefit
from this class action! Still, they need to assist, in clearing that chexsystems mess, cleared! Not your
Fault! They are Crooks!
I do have an account with this bank currently and have been charged over draft fees even though I only get paid once a. Month and my checks are direct deposited
They stole my whole paycheck a few years ago the day before Thanksgiving on a mistake thery did. I had to fight for 2 weeks to get back money and they didn’t even give me back my paycheck. They claimed they had rights to the overdraft fees. I am so glad they are finally getting sued. Because of them I don’t trust banks. They are bad news!
Same here. They have stolen hundreds of dollars from my family with their shady business practices. This bank is why my daughter refuses to put her money in a bank of any kind.
I am so glad this greedy, crooked BofA is being sued again. Not only does this lousy bank charge the $35.00 overdraft fee, these crooks also charge people this bogus, so-called extended overdraft fee when you dont repay the initial overdraft and fee within 5 days. They deserve every lawsuit brought against them.
I know huh. This is the second or third time they have been busted for this crap. At our expense!!! Charge us first then watch all our other payments bounce and get fee after fee after fee. F those putos!!!!
with you girl on that!
I totally agree with you. The extended overdraft fee is the worst. Also, if you have your accounts link for overdraft they will charge you 10 if it has to be used to cover any of your fees, with your own money.
If you think they are bad with this, try M&T or PNC. Worse
You are so Correct! How they are allowed to get away with it! I had banked with these crooks since 1997, if
I could add up all the fees, I’ve been charged, Scandalous, is the first kind word that comes to mind! The
last checking account, I had with them was left with a Negative Balance of 490.00, and it’s all fees, fees with
with nothing being paid! I placed, STOPS, on items, as I was leaving the bank, so that no extra fees would
be incurred, still Nearly 500.00, in fees!
Also, a secured credit card account I opened, so many fees, it’s ridiculous~ When I would have a
balance, beneath the 300. limit, there would be service charges, even small ones, that would put
the account over the limit, the the account would be charged over t he Limit fees! They are Beast,
of the Financial industry, top on the totem poll of rip off Artist! Horrible beast, not good beast!
If you no longer have the account, a check will be mailed to your address on file. Will they send out a confirmation claim id card.
What if you moved from the address you once had a Bank of America Account??
You don’t have to do anything. If you qualify, you will get the credit automatically.
How can I join the class action suit for Bank of America, I have had an account since 1978.
It says we do not have to apply will be automatic.
Hello you can send me a payment please I don’t want it in my account Thank You