$2M Bank of America EFTA violation class action settlement

Bank of America agreed to a $2 million class action settlement to resolve claims it violated the Electronic Fund Transfer Act (EFTA) by denying claims for unauthorized electronic fund transfers.

The Bank of America settlement benefits consumers who submitted a dispute or claim to Bank of America for an unauthorized electronic fund transfer related to a debit card or ATM transaction and Bank of America denied that claim between May 6, 2023, and July 14, 2026.

Plaintiffs in the class action lawsuit accused Bank of America of denying claims for unauthorized electronic fund transfers without providing sufficient explanation or documentation. The bank’s actions allegedly violated the EFTA.

Bank of America, a national bank with branches across the country, has not admitted any wrongdoing but agreed to a $2 million class action settlement to resolve the EFTA allegations.

Under the terms of the Bank of America settlement, class members can receive a cash payment.

Exact payment amounts will vary depending on the number of claims filed with the settlement; no payment estimates are available at this time.

In addition to providing cash payments, Bank of America agreed to change its written communications sent to accountholders whose claims of unauthorized electronic fund transfers are denied.

The deadline for exclusion and objection is Nov. 30, 2026.

The final approval hearing for the Bank of America settlement is scheduled for Jan. 4, 2027.

To receive a settlement payment, class members must submit a valid claim form by Dec. 11, 2026.

Who’s Eligible

The class action settlement benefits consumers who submitted a dispute or claim to Bank of America regarding an unauthorized electronic fund transfer related to a debit card or ATM transaction and whose claims were denied between May 6, 2023, and July 14, 2026.

Potential Award

TBD

Proof of Purchase

N/A

Claim Form

NOTE: If you do not qualify for this settlement do NOT file a claim.

Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.

Claim Form Deadline

12/11/2026

Case Name

Dennie, et al. v. Bank of America. N.A., Case No. 3:24-cv-00454-MOC-DCK, in the United States District Court for the Western District of North Carolina

Final Hearing

01/04/2027

Settlement Website

EFTABankingSettlement.com

Claims Administrator

EFTA Banking Settlement Administrator
1650 Arch Street, Suite 2210
Philadelphia, PA 19103
[email protected]
888-274-4284

Class Counsel

Scott A. Edelsberg
Adam A. Schwartzbaum
EDELSBERG LAW P.A.

Edwin E. Elliott
SHAMIS & GENTILE P.A.

Jeffrey D. Kaliel
Sophia Goren Gold
KALIELGOLD PLLC

David M. Wilkerson
WILKERSON JUSTUS PLLC

Defense Counsel

Benjamin Chapin
Noah A. Levine
WILMER CUTLER PICKERING HALE AND DORR LLP

Stephanie Lynette Turner
Kobi K. Brinson
WINSTON & STRAWN LLP