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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
My husband and I also received $5 here in Ga as well. You would think that they would have at the least, given us back $35 which would have covered one overdraft fee. It’s ashame that the very bank that we trusted to take care of our money over the years is the very bank that stole from us. But what’s even a bigger shame is that the lawyers who litigated this settlement, either (or both) didn’t care, or didn’t have the heart to admit that asking for 33% of this settlement would be cutting out the very customers who have been wronged by BOA. Either way, I will continue to believe in Galatians 6:7- Be not deceived: God is not mocked: for whatsoever a man soweth, that shall he also reap.” I take consolation in knowing that the greedy people who stole our monies, will in the end, loose theirs in some shape, form or fashion!
i have the account since 2006
I’m in Nevada and just got a $5 check. woohoo. I no longer have a bank account ANYWHERE no bank will cash it unless I have an account with them And the casinos won’t either. I’m S.O.L. THANKS A LOT BoA you S.O.B.s!!!!!!
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.
Here is the best part…… after going back and forth with them providing all of our personal and account information that they would have already had because we have been getting all the updates by mail and now the $5.00 check for the settlement.
THEY TOLD US THIS MORNING BY EMAIL THAT WE ARE NOT PART OF THE SETTLEMENT.
Has anyone else reached out to question the settlement amount?
We look forward to hearing what has happened to you.
$5.00 credit here in California.
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.
Here is the best part…… after going back and forth with them providing all of our personal and account information that they would have already had because we have been getting all the updates by mail and now the $5.00 check for the settlement.
THEY TOLD US THIS MORNING BY EMAIL THAT WE ARE NOT PART OF THE SETTLEMENT.
Has anyone else reached out to question the settlement amount?
We look forward to hearing what has happened to you.
I got 9.00 bucks in the mail today.
The attorneys were paid well, that is all they cared about when they settled.
I received a $5 credit on September 19th. What a joke, they still got away with it. They took over $900 in fees from me within that time period. And they continue to do it. Unreal.
I got a whopping $5 on Sept 205th … Wow?!? What a joke! As much as they have charged me & I had the funds there, or because of a legitimate error on my part, I get charged $35 for a 3 cent overdraft & I had a substantial monthly direct deposit on the next day? $5? Really??
…Sept 25th … Darned predictive text! :-(
… Sept 20th … Why does this keep changing my numbers? Arrgh!
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.
Here is the best part…… after going back and forth with them providing all of our personal and account information that they would have already had because we have been getting all the updates by mail and now the $5.00 check for the settlement.
THEY TOLD US THIS MORNING BY EMAIL THAT WE ARE NOT PART OF THE SETTLEMENT.
Has anyone else reached out to question the settlement amount?
We look forward to hearing what has happened to you.
I got a 5.00 credit. This does not even cover there over draft fees of 35.00. What a scam!!!!!!!!!!!!!!!!
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.
Here is the best part…… after going back and forth with them providing all of our personal and account information that they would have already had because we have been getting all the updates by mail and now the $5.00 check for the settlement.
THEY TOLD US THIS MORNING BY EMAIL THAT WE ARE NOT PART OF THE SETTLEMENT.
Has anyone else reached out to question the settlement amount?
We look forward to hearing what has happened to you.
Update, so I received a credit on September 20th and I got a measly credit of $10!! Seriously? I paid thousands in overdraft fees. I was expecting something like at least a couple hundred bucks.
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.
Here is the best part…… after going back and forth with them providing all of our personal and account information that they would have already had because we have been getting all the updates by mail and now the $5.00 check for the settlement.
THEY TOLD US THIS MORNING BY EMAIL THAT WE ARE NOT PART OF THE SETTLEMENT.
Has anyone else reached out to question the settlement amount?
We look forward to hearing what has happened to you.