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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
I lost the post card how do I fill any thing out now what should I do
On the FAQs it says to write and let them know you want to be included in the settlement. That’s what I am doing and just rec’d a notice with my name. I 3 day mailed it and got a return receipt to make sure they got my letter.
You already got a check from the lawsuit? Really?
I was a business customer with B of A for several years.
I had my merchant account with another bank and business checking with B of A. Every night instead of crediting my account with the merchant deposit first they
would process my business checks first and one minute
later they would post my deposit after collecting $400.00
to $500.00 in overdrft fees every day for a couple of years
until I finally lost my business. The total amount in overdraft fees was close to $100,000.00. Pkease tell
me when is justice going to be served. I nearly had a
nervous breakdown. We were supposed to get those
fees back but never did. We cannot afford an attorney
so I hope that someone takes notice of this.
We actually received a “settlement” check for $350.00 which is nothing compared to what Bank of America charged us, but I honestly never expected to get Blood out of a turnip either. Our bigger problem has always been Wells Fargo Bank who claims we owe hundreds intrest in fees on an account we closed years ago.
I would like to know when will we be recieving our money? Bank of America robbed me for a very long time and they should be working expeditiously to repay me as well as others, our money back! We waited long enough!
Boy do they owe me a bunch of money.
Was a customer from 2001 til Dec 2010, they got me for overdrafts
Want to be included in the settlement.
GET EM!!!!!!
How can a imoral corrupt Bank, that steals the money
that Disabled Veterans,The Eldery,and regular Americans needs to live on day to day be allowed to
to use the name”Bank of America”???????
Bank of Bullsh_t seems to be the right title!
Why can’t they be charged under RICO?
Are the not operating a contiuning criminal enterprise!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
yes do all three accounts Lew Saw3 Whitmore Trucking and Larry Whitmore;, Shirlyn Whitmore