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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
I have two I’m suppose to receive from the bank America lawsuit and have not received anything yet, and money was passed out in November ? Really what’s going on
How do you know what you’re supposed to receive?
I have not received anything add me
I haven’t received anything yet.
… yay, a whole 91¢ after all the bullshit fees I’ve been charged over the years. hope the others comments I’ve seen are right and we have closer to the amount that was taken from us coming later this month. 91¢ is pretty useless and pathetic for a company that is worth and makes as much money as they do.
I want to change to a different bank or maybe even a credit union, but boa is too convenient and is like the 1 of 2 banks that don’t require driving across town or further to find an ATM they won’t charge me to use.
I got the same damn thing. And have paid hundreds if not more in all these damn fees. Just got our check today. Ridiculous. They probably spent more printing the damn check.
I havein get thank
I got a check for .91 cents and I’m hearing I’m supposed to get another check of $1000 after 01/18/22? Is this true?
I think so because I don’t get no check yet
How did you find out how much you were getting?
Because there are two different law suit Farrell vs banks of America and Morris vs Bank of America by the way it looks like every one who got 91 cent it’s from the Farrell case but they haven’t send money out yet for the Morris case after Jan 18 they got 30 days to give you your payment
I was sent a letter and it stated that a check will be made out 1000-10000
& I had the choice to opt out but if I don’t want to opt out to basically wait on a check. I haven’t received anything yet
Read people read.
I received 2.73 what a freaking joke. The paper they printed on cost more than the amount they “sent” I am owed 100s of dollars from them!
Banks took in upward of five billion dollars a year each in od fees. Even half of the five billion is what would be considered money they shouldn’t have taken. Why would the attorney’s settle for seventy five million, then take a hefty amount for themselves. Then those involved in the class action get checks of ninty one cents out of the deal? Then what happens to the money that’s left, after people realize how pathetic that ninty one cents is and don’t bother to cash those checks?
Very good point! I have gotten settlements over the years under 3.00 , I end up throwing it away. who gets the benefit of that? Freaking banks make more money off of O.D fees than they make on just about every other thing.
I got 1.82 …I was waiting hoping they deposit at least the 35 x ? (—) but only get 1.82 that’s a shame
I got 1.82 as well, and although the deadline to file was Nov. 11. I did not get my check till the 26 of Nov. and why is there not one single phone number on the letter or the check itself? Talk about fraudulent.!