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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.
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 only received $5.00
I got a $5.00 credit, absolutely ridiculous !!!
Tell me about, Deb…..but I guess in the most pragmatic of ways that’s five bucks more than I had yesterday (even though those thieving bastards have CLEARLY dicked me over for than that over the past several years….). To be frank, I didn’t even realize I was technically wrapped into another one of the ‘overdraft’ class actions done to BoA (AGAIN).
Frankly, it’d be a dream if someone like the FCC actually did something rectify this sh*t, but I highly doubt it.
so where did the 27.5 million go?
I just received one for the same amount in Virginia Beach VA. Wow
Who do I contact? I tried calling the number but there is no one to talk to if you did not receive a credit.
The settlement website has a “Contact Us” section with an email address and a PO Box. You can try emailing or writing the settlement administrator for additional information about your claim. Good Luck!
I have moved and the address that B of A had on file for the account with overdraft fees mail forwarding has expired. Please advise.
The settlement website has a “Contact Us” section with an email address and a PO Box. You can try emailing or writing the settlement administrator for additional information about your claim. Good Luck!
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.
I never received any credit and I was charged an exorbitant amount of fees between those years. It’s now September 20th and I received no credit in my account.
I have not received a credit to my account. I got married and my account number has change.
The settlement website has a “Contact Us” section with an email address and a PO Box. You can try emailing or writing the settlement administrator for additional information about your claim. Good Luck!
If you don’t mind me asking. Who are you (Top Class Actions)? What is your affiliation with this matter?
We did reach out to the email address on the website and we were told they can’t find our information and it has been determined that we are not a Class Member of this Settlement.
We are so surprised to see this is happening to everyone. My husband and I received a $5.00 check in the mail too. We said this is strange we didn’t even get reimbursement for one fee. We reached out to the email provided on the website to ask why we only received the $5.00. When one overdraft fee is no less than $35.00.
Has anyone else reached out to question the settlement amount?
We look forward to hearing what has happened to you.
Top Class Actions is not a settlement administrator and we are not attorneys. We do not profit from any class action settlement we report on. We’re here to help our viewers get connected to cases as quickly as possible, and to provide settlement information that people might not otherwise be aware of.
You may want to contact class counsel with your concerns. Counsel for both the plaintiff and the defense are listed in the article, and can be Googled for contact information. We wish you the best of luck in your pursuit of justice!
They changed banks here another bank took over I was automatically given a new account with the new bank but I closed the account with the new bank. Wish this would hurry up.
I emailed the administration dept.. I have been a loyal customer for over 10 years..I had many over draft fees even when the money was there…believe it or not…I was told I don’t have a bank account and that they could not locate me in their system.
Just a real shame…Need Answers..
Quick..
The appeals object to the class representative service fee and attorneys’ fees. Keep checking Top Class Actions for updates. We are following the case and will let our viewers know when the appeal is resolved.
Great are they refunding the full 35 for each overdraft??
The FAQs on the settlement website state that the payment amount cannot be determined yet.
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.
what are the appeals about ?
So when should I receive a payment from being of a settlement overdraft changes