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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 just recieved a postcard notification today, stating a hearing on August 29,2012 will determine the final judgement. It made me think I would be receiving 5,000.00. But after researching the websites it showed that most people would only get a small check of $27.00 becaise of lawyer fees and such….so im seriously going to find out how I can get a fair amount thats owed to me.
I’m still waiting for my money from BOA.. When am I going to receive it?????????????
piease donot forgate us
What about the people who have been reported to check central for the overdraft fees and cannot open up another checking account unless you pay BOA?? Is that legal with the lawsuit, they can hold that against you, should BOA not have to removed that derog from the checking place. In addition, I am separated from husband who will not pay one cent, left me with the financial baggage and BOA wont let me settle my half and clear my name. This is a steam roll and BOA still comes out on top.
how long before I see a check for being over charged.
Bank of America ,
supposedly settlled a long time ago.Got alot of money from me,filled out the paper ,never recieved another word. How many people have gotten ripped off , they should of given compesation by now !!! bet lawyers been paid !They should be ashamed…….
Bank of America squeezed more than $500.00 0f overdraft fees from me. No amount of money could compensate the anxiety and anguish it caused me. BOA even charged my Certificate of Deposit $117.03 last Jan.2011 because they couldn’t get anything from my checking account. I thought my CD would be safe but it was not. I still have the documents to prove it. Shame on you. People like us deserves a bigger share from the settlement.
I hate BOA with a passion!! It is almost a year now since BOA charged my credit card almost $300.00 dollars for payments to a life insurance policy, mind you I never approve of such. After doing my research I found out that this Life insurance company happens to be one of BOA affiliates. I will never ever open another BOA account nor advise any of my friends and my love ones to open a BOA account. They are heartless and cruel, will do anything necessary to maintain their big bonuses pay out. Suggestion and comments are welcome.
HELP US GET OUR MONEY BACK A.S.A.P THEY STOLE BETWEEN MY HUSBAND AND I OVER 1,000 ON OVERDRAFT SCREW THAT GET OUR MONEY MY HUSBAND SAID HE IS HAPPY THAT SOMEONE IS FINALLY DOING SOMETHING ABOUT IT. JUSTICE 4 EVERYBODY HOTHE ECONOMY IS DOING KNOW need our money. Today.
One to two years really? We need are money back now before Christmas screw u boa