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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.
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.
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.
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.
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
BofA took over $7,000 from my account between 2014 and 2020 before they closed my account down because they kept me overdrawn so much with fees on payments I had put a stop payment on they got me with retry fees and overdraft fees for six years. I haven’t gotten a check yet though
I got a check today for $546 from BOA with a claim number on it. I have no clue what it’s from or why I received it. I’m part of the case that’s final hearing is in January 2022, but I didn’t think the payment could be disbursed yet.
I think you guys are getting refunds from a previous settlement. This one is not supposed to finish till 1/18/2022. My understanding is 1,000 per individual when this one is finalized
There fees were n r ridiculous they got me for too much that I quit depositing my auto owners checks. There for big business not small middle low class. Also I’m guessing I got 91cents to the father of my children told me two weeks ago I had check there for settlement etc obviously broke the law n opened it I’d be happy with 20 bucks of the over a grand to 3 they got me for.
they should have had to pay each person back the amount they took. This is why the bank doesnt care. They still make money.
I agree with everyone here, this $.91 check is a joke. I had an account but took my money and asked them to close it because of all there rediculous fees, turns out they never did when I left that day and months later I got a bill for having no money in my account….wt#? Smh.
I don’t understand how Morris vs BOA is already sending out checks when the final hearing isn’t until Jan 22nd 2022 or something close to that? I think we may still have checks coming folks!
Just received my .91 cents ??♂️ at least couple hundred would be nice
I got $2.78. I don’t know if I should spend it all in one place or put it in my savings.
This is f*ckin’ insulting
.91 cents what a joke