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UPDATE: Refund checks from the Bank of America Overdraft Class Action Lawsuit Settlement are in the mail!
Top Class Actions reported in June that Bank of America (NASDAQ: BAC) had reached a $410 million class action lawsuit settlement for charging excessive overdraft fees. We’ve just learned that some Bank of America customers have started receiving notices in the mail concerning how to receive a payment or account credit from the class action settlement.
The Bank of America overdraft fee settlement will resolve a class action lawsuit, entitled In re: Checking Account Overdraft Litigation, that accuses Bank of America and nearly 30 other banks of manipulating debit transactions to maximize the fees they could charge customers who overdrew their bank accounts. Bank of America denies any wrongdoing, but has agreed to settle its part in the case by creating a $410 million settlement fund to reimburse Class Members.
You’re considered a Class Member of the Bank of America overdraft fee class action settlement if you had a Bank of America checking account and/or savings account that you could access with a BofA debit card, anytime between January 1, 2001 and May 24, 2011, and you were charged one or more overdraft fees as a result of Bank of America’s practice of posting debit card transactions from highest to lowest dollar amount.
As part of the Bank of America overdraft settlement, Class Members will receive payments or account credits for the unlawful overdraft fees they paid. The amount of such payments or account credits cannot be determined at this time, but will be based on the number of people in the Settlement Class and the amount of additional overdraft fees each Settlement Class Member paid as a result of Bank of America’s posting order.
If you are included in the Settlement Class and entitled to receive a cash benefit, you do not need to do anything to receive a payment or account credit from the BofA overdraft settlement. If you Court approves the Settlement and it becomes final and effective, you will automatically receive a payment or account credit.
However, if you wish to opt-out of the Bank of America settlement and retain your right to sue individually, you have until October 3, 2011 to submit your request for exclusion.
You can find more information on your rights in the Bank of America Overdraft Fee Litigation Class Action Lawsuit Settlement at www.BofAOverdraftSettlement.com.
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116 thoughts onDetails on Filing Claims for BofA Overdraft Settlement Arrive
Yes do all three accounts
we have 3 account with the bank do all 3 count
let me know
Who is gonna mk them pay to all who suppose to recieve there share of the settlement, and what’s the deadline for them to pay out. And if possible is it anyone I can contact for this info, or to speed up the process of me receiving my money..
I just got a settlement notice in the mail for the lady who lived at my house before I moved here. I too had bofa screw me and my acct. up until I finally just quit depositing money, the last straw was when they racked up 300 dollars in overdraft charges saying the deposit my employer did over the phone with the help of the branch manager in his town didnt transfer into my account until after I made several purchases of supplies for the job. Since then I moved into a new house and dont believe I did the change of address at the post office. So how do I find out if they included me in this settlement?
Details on Filing Claims for BofA Overdraft Settlement Arrive
M&T Bank does this as well how would I contact the lawyer handling this suite anyone know?:-)
What if I’ve moved?
How will they get in touch with me to issue my payment if I’ve moved out of town or out of state? :
Details on Filing Claims for BofA Overdraft Settlement Arrive
I am in the time span but have never been notified i have a claim and I want to file a claim against them and Wells Farrgo.
Details on Filing Claims for BofA Overdraft Settlement Arrive
What if you closed your account because of the excessive fees how will you be added to the class and receive payment?
Details on Filing Claims for BofA Overdraft Settlement Arrive
All those affected by BANK OF AMERICA’S SCANDELOUS AND CRIMINAL LIKE ACTIONS PERPATRATED ON AMERICAN CITIZEN’S IS AN OUTRAGE. Now they are claiming they did nothing wrong and all of the legal costs aquired in defense of Bank Of America will be paid out the 410 million dollar settlement so its like there paying themselves. They don’t want the victims to respond and to just except the little peanuts they are planning on throwing us. I have never ever filed suit against anyone in all my 38 years of living but I am pissed. So please read up on this case if you are in the time span and was notified you have a claim. If you have been negatively affected by there illegal and unfair practices. Don’t let them continue to bend us over and take us for a ride. Sorry to be so vulger but I am so angry and yet so happy to be able to get some type of pay back from those crooks. Does anyone know who owns Bank of America or are there several owners. Inquiring mind wants to know? Again Good Luck!
Details on Filing Claims for BofA Overdraft Settlement Arrive
I encourage all of you guys if you had an account to go online and read the settlement proposal. It is said to be a 410 million settlement amount & most of that will go to the lawyers and it will also go to pay for BANK OF AMERICA’S DEFENSE LAWYERS TEAM so they are again going to be getting paid out of the settlement against them. They discourage people to not respond because the attorneys on both side’s want to eat up the entire settlement amount. THEY STATE THAT YOU SHOULD NOT RESPOND BUT IF YOUR READ THE SETTLEMENT PROPOSAL THE ATTORNEYS REPRESENTING THE GUY THAT BROUGHT THE CASE TO THE FOR FRONT THOSE ATTORNEY’S LISTED AS CLASS ACTION COUNSEL IS STATED THEY ARE ALSO TO REPRESENT US AS MEMBERS IN THIS CLASS ACTION AS WELL. Good Luck!! CASE 1:09-MD-02036-JLK