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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
Well today is February 22nd, I didn’t receive my money, and didn’t see Morris post anything about the payout date on the settlement website.
Actually if your not in the 1st tier of claimants I think the funds will run out.I read the judge commented on all the people in this case.
Source?
If you read the card theirs different tiers. If you d/l the pdf file of the case you will read the judges comment.
I have been waiting and waiting after they sent me a letter saying I was entitled to a portion of the settlement. A while back I was called to give a deposition and actually sent fin. My bank records. As embarrassing as it was for me to show exactly how many times I over drafted my account the attorney who took my deposition endured me that I had a big deposit coming in Jan. Well it’s Feb and still nothing. I was counting on that money. 2nd mistake. 1st being opening an account with BOA to begin with. I’m just praying something comes soon. It’s mean to tell someone they are going to be taken care of and then forgotten about. :(
U do know the Seattlement Bearly got approved on Jan 18 it takes 30 days after that to get your check
Even if the entire portion of class member award is split equally among the apx. 3.5 million class members the monetary award would only be apx. $14.00. Patrons who comment an award between $1,000 and $10,000 have misread the case text. $1,000 to $10,000 is stated additional compensation for Class Representatives, not Class Members. No one will receive the entire “restitution” amount they have previously been charged. This is explained by settlement agreement in which BANA will “pay” by other means.
Exactly…and it’s supposed to be “ pro rata “ so everyone should receive different amounts.
Best clarification I’ve read thus far… Thanks for interpreting this in your breakdown it gave me the realistic figure on what to expect back from these time wasting s.o.b.’s
$14.00 ? I should be able. To buy 3 gallons of gas..
I’ve been waiting on the check too since November theyThey haven’t said nothing we need to get a lawsuit against it the Lawyers said it was going to send it this year
Yall….I got $0.91 on January 6, 2022 … we’re still being bent-over by the system….
What case are you in
I was a customer for years and years…this is awful nothing was received notifying customers.
I too, am waiting for any monies. I seriously, doubt we will receive what they have taken from us. They seem to think, they have a legal right to screw you over for storing your hard earned money.
It depends what case u in if your in the Morris case your supposed to get like 1k to 10k the finale hearing for the case
Was on Jan 18 so pretty much you need to wait they have 30 days after the hearing to send the checks
I havent received anything yet. Im a former member. Has anyone received any amount so far?
Nope, nothing so far, I got raped by B of A, probably only get like a buck, if I’m that lucky like that other person.
Anybody know the outcome of the Morris vs BANA case? I received a post card last year about it.
It’s been finalized…it went through. Just waiting to see payment. Very curious about how much we ( class members) will receive. The lawyers and others got around 26,000,000.
You can read the final judgement on line.
Where online can I see that I’m in the Morris case
Are you going to send notification of settlement amounts?
I received a whopping 11.34 cent. When I lost so much money because BOA committed deceptive acts and practices . The FAQ’s page said class actions would received 1000 to 10000z explain please .
Tanya, are you sure this is for the Morris vs BANA case? and not the other case? Huge discrepancy between $11 dollars and $1k! holly smokes. I’m not going to hold my breath then ?♂️
That just means the people who were in court (other than lawyers) to represent everyone.
I received $0.91. This check isn’t worth the paper it’s printed on. And, I paid them way more than that. The year I stopped banking with them I had $735 in overdraft fees. There’s definitely a mistake.
Right can we sue them ourselves? What are the chances of winning if we do
I have not received anything form bank of America there is something seriously wrong. I believe everybody on this law suite was lied to somebody needs to contact me asap
Im with you I have not received anything from anyone like to now what is going on
I got a postcard in the mail and have not received anything in my bank account or in the mail