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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
I would like to join this lawsuit. I have moved a couple times since I had a checking account with Bank of America
Im so happy that BofA will get to write this loss off at the end of the year and us customers wont see a dime, as usual. I was a loyal customer with them for 20 years until one day when my ATM receipt said i was overdrawn -375.00 Frantic, i immediately called to find out that they had allowed US Bank to withdraw $850 thousand from my bank account without notifing me. I had a few thousand in the account at the time. When asked where the $$$850,000$$$$ came from, they told me not to worry, that the number was only an internal code. Was the IRS aware of this CODE??? Then they had the audacity to send me 20 overdraft fees for the online banking payments that bounced. How Insulting! Note to Bank of America: YOU SUCK PS: your lack of customer service skills, the lack of respect that you show to your employees and to your customers makes me sick to my stomach. Please change the name of the bank, because Americans have standards and your unethical business practices dont measure up to it.
Same thing happened to me and my hubby! $799,999 was taken from ours,, I was like WTF and then by the time they had it straightened out they took 2 paychecks that were direct deposited for the damn over draft fees. I was like that is BS!!!
How do i joined the law suit
I was a member for a long time with Bank of America and they decided to liquidate my savings without telling me and tried to charge me for inactivity after they told me it would be okay. No way! They were also extremely nasty with me as well
I NO LONGER HAVE ACCOUNT AND MY ADRESS HAS CHANGED , HOW DO I JOIN IN THIS SUIT
I need to joint this class action for Bank of America! They charge me several times when I still have small amount of money in my account and then multiple fees for the fist one in 3 days! How can I joint?
My address has changed. I was recieved something in the mail in my old address but nothjng since
Bank of America will work with you if you call them and set up payment arrangements. I have fallen on hard times before and have had to do that. They then allowed me to open up a second account so that I could keep my money somewhere and pay my bills. I just had to agree to make a payment on the other account every two weeks and agree that I would pay it off within four months. However, it is BS that they will deduct the largest amount first and then attempt to pay the smaller purchases after. I always kept on top of my account but bank of america was sneaky (still is) and was deducting checks and internet payments at the end of the day. I could go to sleep with $5 in my account and wake up to two checks having posted and then $70 in overdraft fees. THAT is how I was screwed up. The worst part is that they would then return all of these checks and many businesses would make a a second attempt at collecting the money. Its been years since Ive been in that boat but I do feel for people who fall into the hole I used to be in.
They cancelled our overdraft without telling us and had no reason to do so. (Been with them 25 years) then charged us overdraft fees which added to large amounts. Would not reimburse and then later re installed the overdraft protection!
What if you no longer live at the address on file? Who do you contact.