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Consumers who had a checking or savings account with Bank of America (BOA) and were charged a retry transaction, overdraft, nonsufficient funds (NSF), or intrabank transaction fee may be eligible for a payment thanks to a $75 million BOA fees class action settlement.
Settlement Class Members include Bank of America customers who had a checking and/or savings account and were charged one of the following fees between July 1, 2014, and July 29, 2021: retry transaction fee, Intrabank transaction fee, NSF fee, or overdraft fee.
Plaintiffs in a class action lawsuit allege Bank of America charged its customers improper fees systematically in a multipronged effort to earn more profit.Â
The plaintiffs further say multiple BOA fees would get charged for a single transaction. Together, plaintiffs say, the bank’s practice of charging these fees would force customers into a cycle of deceptive and improper charges.
Bank of America disputes the plaintiffs’ allegations, and the company denies its actions were improper.Â
The Court has not made any ruling about the actions of Bank of America, so no determination of guilt has been made in the BOA fees class action lawsuit.Â
Despite that, both Bank of America and the plaintiffs have considered the risks and costs of continuing the class action lawsuit. Both parties believe the settlement is in the best interests of all Class Members and the company itself.
According to the settlement, the $75 million balance will get paid out on a pro rata basis after attorneys’ fees, service awards, and the costs of administering the settlement have been deducted.Â
Current customers will get a credit on their accounts for the amount they’re entitled to receive, while former customers will receive a check.
Also as part of the settlement, Bank of America has also agreed to change certain practices for at least five years. It will stop assessing fees on retry transactions and will implement changes to its consumer account disclosures.
Class Members who do not wish to participate in the settlement must exclude themselves. By doing so, Class Members can continue pursuing any individual claims against Bank of America, but they will not receive any payment from this settlement.
Class Members who wish to continue participating in the class action lawsuit but are not happy with the settlement have a right to object.
The deadline to opt out of or object to the BOA fees class action settlement is Nov. 11, 2021.
No claim form is required.
Who’s Eligible
Settlement Class Members include Bank of America customers who had a checking and/or savings account and were charged one of the following fees between July 1, 2014, and July 29, 2021: retry transaction fee, Intrabank transaction fee, NSF fee, or overdraft fee.
Potential Award
Varies
Proof of Purchase
No proof of purchase required
Claim Form
No claim form required.
NOTE: If you do not qualify for this settlement do NOT file a claim.
Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.
Opt Out of or Object to Deadline
11/11/2021
Case Name
Morris v. Bank of America Settlement, Case No. 3:18-cv-00157-RJC-DSC, in the U.S. District Court for the Western District of North Carolina Charlotte Division
Final Hearing
01/18/2022
Claims Administrator
Morris v. Bank of America Settlement
P.O. Box 5645
Portland, OR 97228-5645
855-654-0890
Class Counsel
Larry McDevitt
David M. Wilkerson
THE VAN WINKLE LAW FIRM
Jeffrey D. Kaliel
Sophia Gold
KALIEL GOLD PLLC
James J. Pizzirusso
HAUSFELD LLP
Defense Counsel
Brian A. Kahn
Jasmine K. Gardner
MCGUIREWOODS LLP
Carolee A. Hoover
MCGUIREWOODS LLP
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537 thoughts onBank of America $75M Improper Fees Class Action Settlement
Well I received $25.52, and I was feeling crappy about it, I guess that’s a lot compared to the .91 cents. Lol
I got a deposit too, and it was so small ($5.65), that I didn’t even notice it had been in my account for 3 weeks. Hahaha, what a joke.
so how if i declared and cleared bankruptcy did BOA get my settlement of 35$ when never declared in my bankruptcy and i get .91 wtf
super sketch
I was never notified of a classaction or the need to opt out. Nor do I do class actions. I would like to file a separate lawsuit.
If thousands of people don’t cash their $.91 checks, do the lawyers get that money too?
Yep ours was $0.91. They took hundreds of dollars from us then closed our account in the negative because of all the fees. I just got the check yesterday and deadline to object is already gone. Not very fair at all.
I got 2 checks for $0.91 -_- I got all excited for nothing after the hundreds if not thousands BOA has taken from me over the past 25 years, like bruh… they could have kept that!
My check was 0.91 lol wow
That’s not true at all my was a great amount
Mine came thru ups yesterday
It is true cause I got a check(waste of ink and paper) for .91 cents. I didn’t file a claim for it. It just showed up in the mail. I guess you were a lucky one since yours is more than that.
Mines was pretty huge also I don’t believe for a bit that anyones was .91 mine came thru ups also!!!!
My check came thru ups also and I couldn’t believe it … it was not .91 I don’t believe anyone that say .91 that’s not true
It certainly is true, if we can post pictures on here I would post both of them. I got two for .91 cents each and I didnt get them by way of UPS they were in the mailbox.
Mind was 91 cent is they going too send another check by any chance
How much? If you don’t wanna share exact amount…ballpark??
BOA is still over charging fees to customer how can I sue them for overcharging fees
I receive a deposit didn’t know what it was for I have been with Bank of American since I was 18 now 77 is there more to come ? Please look. I have not posted anything. Before you are wrong.
I receive a deposit didn’t know what it was for I have been with Bank of American since I was 18 now 77 is there more to come ? Please look.
I got a deposit too, and it was so small ($5.65), that I didn’t even notice it had been in my account for 3 weeks. Hahaha, what a joke.