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MORE DETAILS RELEASED 7/14/2011 – WEBSITE TO SUBMIT A CLAIM
BofA to Pay $410 Million Overdraft Fee Class Action Settlement
By Sarah Pierce
UPDATE: Refund checks from the Bank of America Overdraft Class Action Lawsuit Settlement are in the mail!
Bank of America has agreed to pay $410 million to settle its part in a class action lawsuit that accuses it and more than two dozen other lenders of manipulating debit transactions in order to charge excessive overdraft fees. More than one million Bank of America customers are covered in the class action settlement.
Bank of America is the first defendant to settle in the overdraft fee class action lawsuit, which accuses nearly 30 of the nation’s banks of manipulating debit transactions to maximize the fees they could charge customers who overdrew their bank accounts. JPMorgan Chase, Wells Fargo, U.S. Bank and Citibank are among the remaining defendants in the bank overdraft fee class action litigation, which in 2009 consolidated lawsuits filed across the country.
The Bank of America overdraft fee settlement stems from several consumer complaints, including Plaintiff Ralph Tornes, who sued Bank of America for charging him nearly $500 in overdraft fees after the bank allegedly rearranged the order in which it processed his purchases. Torres claimed in his lawsuit that BofA did not process his purchases in chronological order and instead rearranged them from largest to smallest so that he had to pay three $35 overdraft fees instead of one.
U.S. District Judge James Lawrence King in Miami granted preliminary approval of the BofA overdraft fee settlement and scheduled a November 7 hearing for final approval.
The case is In re: Checking Account Overdraft Litigation, U.S. District Court, Southern District of Florida, No. 09-md-02036.
Updated November 28th, 2012
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21 thoughts onBofA to Pay $410 Million Overdraft Fee Class Action Settlement
BofA to Pay $410 Million Overdraft Fee Class Action Settlement
I have lost thousands to BofA due to their scamming of higher to lower transactions and closing of one account and stealing monies out of another acct. to pay the fees. BofA should have to serve a jail sentence and be shut down for their criminal act! I have also experienced how easy it was for my son, who has the same name as his father, was able to walk in with his drivers license and withdrawal monies on a daily basis and say; I do not have my debit card (Quartz Hill, Ca) even with password protected the employees never asked and gave him the money!
I would like to personally thank the person(s) whom got this class action stated and the revolving BofA transactions nightmare to finally stop!
Sincerely,
Debbie P.
BofA to Pay $410 Million Overdraft Fee Class Action Settlement
>:o
I have the same EXACT problem as you Porttra Smith, after they take all my money in fees from fraud charges they close my account and are constantly sending me mail and have now sent my dept to a dept collection company and destroyed my credit, I cant open a bank account nowhere and I have to keep all my money on me as cash, not to mention when my money was taken my car broke down and I almost lost my job.
I have a Hatred to Bank of America now
BofA to Pay $410 Million Overdraft Fee Class Action Settlement
In 2010 my card was stolen from me and I reported it in 2010 with access charges to my account BOA security level is very low they was able to access my account through an ATM without my pin BOA told me they would review the camers and get back to me i never recieved any additional information on my claim in fact my account ws short 150 from what they took and charged me 428 after they forced closed my account over this… So now is 2011 and BOA has my credit messed up and I asked them about my claims and they told me my filies was lost… Now Im 20 years old and can not open an account because of BOA is there something I can do I really need some advice BOA and CHX system said they don’t no what I can do:'( if you are a lawer please email me at colandria@yahoo.com
thanks
BofA to Pay $410 Million Overdraft Fee Class Action Settlement
>:o:-[:'(:-(:-D:-):P:8-);-)
BofA to Pay $410 Million Overdraft Fee Class Action Settlement
How do we make a claim?
BofA to Pay $410 Million Overdraft Fee Class Action Settlement
Im a single working parent of two teenage boys. I have been going thru this same issue w BofA for many years. There was a time when all of m paycheck was taken from overdraft fees and i sat in my car and cried. I called BofA and told them what i was going thru and they pretty muxh said that there’s nothing they can do. So i hope I’m able to do this class action as well. :'(
BofA to Pay $410 Million Overdraft Fee Class Action Settlement
My husband and myself have been going through this with BOA for years and years. How do we become part of the settlement or is it automatic. We have given BOA so much money in about 8 years we could’ve bought a house out right. How do we become part of this?
BofA to Pay $410 Million Overdraft Fee Class Action Settlement
This is 9 years in the making for me. They ruined my credit by charging me phony overdraft fees. Plenty of times I was charged NSFF and was never overdrawn. Never will bank there again.
BofA to Pay $410 Million Overdraft Fee Class Action Settlement
i hope justice.
BofA to Pay $410 Million Overdraft Fee Class Action Settlement
ihope justice.