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UPDATE: Details on how to file a claim for the Bank of America Credit Protection Class Action Settlement have arrived!
A federal judge has preliminarily approved a $20 million class action lawsuit settlement offered to Bank of America customers who claimed the bank used deceptive marketing tactics to sign up and charge credit card customers for a useless credit-protection service. Some cardholders will be eligible for $50 and $100 awards under the class action settlement.
Credit card customers alleged in the Bank of America credit protection class action lawsuit that not only did the bank sign them up for its Credit Protection Plus service without their permission or through deceptive marketing, but that it also gave them nothing meaningful in return for the monthly fees they were charged. Bank of America charged customers for the service without authorization, enrolled them through deceptive marketing, and improperly denied benefits, the class action lawsuit alleged.
The Bank of America payment protection settlement is the latest in a string of settlements reached in consumer class action lawsuits accusing banks of deceptively marketing payment protection products and other add-ons to credit card customers. Chase credit card customers won a $20 million class action lawsuit settlement last year over the deceptive tactics, Discover card customers won a $10.5 million class action settlement earlier this year, and Capital One cardholders will receive $210 million as part of a class action settlement alleging the bank tricked them into buying unwanted “add-on” products such as payment protection and credit monitoring.
Bank of America admitted no wrongdoing in the proposed class action lawsuit settlement, but agreed to change some of its practices related to the Credit Protection Plus program, including waiving or eliminating restrictions previously imposed that did not allow enrollees to receive benefits. It also agreed to create a $20 million class action lawsuit settlement fund to pay credit card customers who enrolled in the credit protection service starting in 2006.
U.S. District Judge Thelton Henderson preliminarily approved the BofA credit card protection class action settlement on July 23, 2012. A Final Settlement Approval Hearing is scheduled for January 14, 2013.
Customers will have until February 26, 2013 to submit claim forms to receive money from the class action lawsuit settlement. Claim forms and an official settlement website have not been created yet. Keep checking Top Class Actions, or sign up for our free newsletter, to receive details on how to file a claim for the BofA Credit Protection Class Action Settlement as soon as they’re available. Claim Forms and more information on your rights in the Bank of America Credit Protection Class Action Settlement can be found at www.CreditProtectionSettlement.com.
The case is In Re: Bank of America Credit Protection Marketing and Sales Practice Litigation, Case No. 11-md-2269, U.S. District Court, Northern District of California, San Francisco.
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23 thoughts on$20 Million BofA Credit Card Protection Class Action Settlement Preliminarily Approved
My wife had a credit card which BofA bought out. I was working out of town and my wife begin to receive notice to make payment to BofA . She didn’t make payment untill I returned. When I returned home I contacted BofA. They told me that I was late and began charges of 32% on the balance. I cotacted my state AG which told me I had to contact the Banking Comm. Same Qustion as Yvonne, comment. Thanks
I have received a notice to file a claim under this class action suit. I am concerned that it may not be coming from a ligit source as the web site listed does not work and the case no is slightly different…listed as …case no. 3:11-md-02269-TEH. CAN YOU TELL ME IF THIS IS A LEGIT CLAIM NOTICE? I do not want to fall victum to an identy theft scam. Thank You.
I tried to cancel my credit protection progam but it took years at $40.00 a month I fell 35 feet off a roof in 2009 I’m now totaly disable broken bones and brain injuries . did Bank of America care about my plight No all they wanted was $40.00 a month.
I recall when receiving my statement an extra charge.
I recall this happening. I called BOA and they said that I agreed to the plan. I argued with the sales rep that in fact when they called asking if I wanted this I said no thank you . I finally closed the credit card so I didn’t have to deal with them anymore.
At least ya’ll can remember this travesty. It happened to my mother, she now suffers from “senile dementia” and doesn’t remember, now I am left to unscramble this mess for her. This comment 10/12/2012.
I bought a credit protection plan that included alife insurance rider. to pay off any credit card balance.wich was a paultey amount. when my wife died. The plan refused my claim. I sent an official death certificate. The was a useless peice of hipe. Pete Hansen
I recall when receiving my statement an extra charge
I recall when receiving my statement an extra charge and when I looked it was for credit protection that I did not ask for.
I recall when I received my credit card statement I noticed an extra charge for credit protection that I did not ask for.