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Bank of America Overdraft Fee Lawsuit Settlement
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In late May, Bank of America’s $410 million settlement of a class action lawsuit concerning debit-card overdraft fees received preliminary approval from a Miami federal judge. Thirty five banks were named in a class-action litigation and Bank of America was the first to settle. The final approval hearing will be November 7th.
Did you just get a letter in the mail about the Bank of America overdraft fee lawsuit settlement? Congratulations, you’re due for a little piece of the $410 million dollar settlement that Bank of America agreed to several months ago in litigation named “In Re: Checking Account Overdraft Litigation, U.S. District Court for the Southern District of Florida, No. 1:09-MD-02036-JLK” (they’ve settled on a lot of things, but that’s the one this post is about). The agreement has been approved and you can now take action.
Remember a few years ago when it was revealed that banks were (allegedly) playing games when it came to the ordering of various transactions? Fifth Third Bank settled in April on something very similar. Well, the lawsuit charged that banks were processing charges days after a purchase was made, they were reordering the processing times, and doing all sorts of other chicanery in order to maximize fee income. I won’t be surprised to hear other banks settling too.
The judge ordered that the administrator create a website (it’s now past July 1st so that’s the website) and toll-free number (1-800-372-2390) by July 1st, so look for a website by then. Also, all class members will receive a postcard by September 2nd.
According to the website, if you want to get payment or account credit, you don’t have to do anything. The website states: “You do not have to do anything to get a payment or account credit from the Settlement. If the Court approves the Settlement and it becomes final and effective, all identifiable Settlement Class Members who are entitled to receive a cash benefit and who remain in the Settlement Class will automatically get a payment or account credit and will give up their legal rights against Bank of America about thes claims in this litigation.”
If you want to exclude yourself from the settlement, and thus retain the right to bring separate litigation, object, or go to a hearing, you can do so via the website (or find out more information on how to do so. If you do nothing, you’ll get paid a portion of the settlement amount.
(Photo: rainforestactionnetwork)
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I take the prize people!! $1.16
this is bull$#1T
I take the prize people! I received a whoppin’ $1.16 lol
Seriously BofA.. really? THAT’S IT?!
Just received the jaw dropping BS payment of 44.92 of what was (arrcording to the bofaoverdraftsettlement.com last year claimed each person was to receive $5000.00 each out of the billion(s) in settlement.
Now, it was something like 410 million payout, can you say corruption? But honestly, with how screwed the bankers are, should this surprise anyone. It took me a minute to cool off, but know that their Judgement is coming.
just wish I coud be there to watch the @ss whooping.
it did not say that on the bank of america overdraft settelment page. 5,000 is rediculous, there were hundreds of thousands of people this affected. i researched it during the lawsuit and found out most people would only be getting 10$ to 75$ at the most.
i recieved 75$ after having a total of 3,492 charges in overdraft fees, it is partially my fault for keeping terrible banking.
however, i do want to make it aware that bank of america is STILL doing the same exact thing they were sued for. my charges today are in ascending order from a 1.99 itunes purchase, a 6$ dollar purchase, and so on. but they cashed a check that put me under….DAYS after i had those little purchases. the whole bank is fucked up. i am calling today from afghanistan and canceling
almost $6,000 in overdraft fees. my settlement check was $52.00
Forgot to mention….
About two months ago i noticed that items were not being rearanged. im not sure how long that went on. Seems the day check came items are now 319, 151, 79, 42, 12, 7.90, 1.51
A couple years ago i decided i would log onto my bofa account every hour for a couple days. Items were rearanged about 6 different times. i even took screen captures and was shocked at what i was looking at. talk about crooks. worst of the worst. lets ask ourselves….why do we even have these bank accounts?
not sure how good this is yet, but the other day i signed up for a Bluebird account. It’s through american express.
maybe we all should get together and see the law firm. I got a whopping 6 dollars and 55 cents. how was it just that I had hundreds of dollars worth of overdraft fees that cost me hundreds of dollars for things that bounced I had to pay other companies fees on top of the bank fees. just to turn around and have the lawyers take the lion share the money in and give 12 percent to charitable organizations that they considered to be unclaimed money. if you look at the website they do list at the website. that’s almost 50,000,000 dollars. I say lets file a class action lawsuit against the law firm. clint52678@yahoo.com if anyone is interested.
Iam with you lets all sue the Lawyers who lied 2 us and the courts in order 4 them 2 keep all the money….the judge also must been in on the deal…..
A WARNING TO ALL !!!
NEVER, NOT EVER GET INVOLVED / SIGN ON TO ANY *”CLASS ACTION LAW SUITS !! LAWYERS GET OVER 99.99 % OF THE SETTELMENT MONEY. tHEY USE THOUSANDS UPON THOUSANDS OF PERSONS (MAYBE MILLIONS ) OF PERSONS IN THE SUIT . i CALL IT ‘YEASTING’ TO SWELL THE CLAIM ON PAPER WITH THE COURT. ONCE THE SWELLING IS TO THE GILLS WITH ALL THE NUMBERS USED TO CALCULATE THE WORTH OF THE SUIT, “JUDGES” / COURTS MAKE THE DECISION TO RULE IN FAVOR OF THE CLIENTS WHO WERE HARMED BY THE SUBTERFUGE. THE CLAIM IS FURTHER SWOLLEN BY LAWYERS WHO THIKEN THE CLAIM WITH THEIR CLAIMED HOURS AND HOURS OF “LITIGATION” @ PROBABLY OVER 500. TO 600 DOLLARS PER HOUR. THEY THE BULK OF THE CLAIMS SETTELMENT. MY ADVICE IS TO WAIT FOR THE LITIGATIONS THAT CONCLUDE IN THE COURT IN THE RECORD . GET COPIES OF SEVERAL RULINGS FOR THOSE HARMED. PREPARE YOUR OWN SUIT BASE ON THOSE PROOFS IN THE RECORD > THE WORK IN THE RECORD AND RULING AND THE ARGUMENTS ARE ALREAD THERE. I DID THIS BEFORE. I WROTE THE SENAT BANKING COMMITEE IN wASHINGTON D.C. ATTENTION TO THE HEADS / DIRECTORS OF THOSE COMMITTIES. I COLLECTED A LITTLE MORE THATN 600.00 DOLLARS !!! IN A REFUND CHECK FROM THE BANK DIRECTLY. THEY RETALIATED BY KICKNG MY ENTIRE FAMILY OUT OF THE BANK ! I COULD HAVE FILED ANOTHER SUIT ON THAT ACTION , HOWEVER I DECIDED NOT TO BOTHER. THE MONEY MADE ME WHOLE AND I WAS PROUD FOR MY EFFORTS.
I HAVE IN THESE LATEST SUITS A CLAIM WITH @ LEAST 3 OF THE ONES MENTIONED. I KNOW I CAN DO THE SAME THING THESE **”LAWYERS” ARE DOING ; I.E SWELL MY OWN CLAIMS REFUNDS 2 THE MAX OF 2000. DOLLARS EACH i WOULD PROBABLY GO TO 10,0000 IN DAMAGES. THE COURT WOULD HAVE TO RULE IN MY FAVOR BECAUSE THE LITIGATION HAS ALREADY PROOFED.
IF YOU DONY OPPT OUT NOW OMIT THE CL OFF OF THE SPELLING OF CL-ASS ACTION AND GET IN LINE ! TURST YOU !!!
YES YOU CAN DO THIS !!! AND WIN. A GROUP COULD GET TOGEATHER / A FAMILY WHO HAVE BEEN LOYAL TO THESE BANKS COULD EAISLY GO THERE AND WIN NO DOUBT !!
NOTE .. **WHILE THESE BANKS WERE PROVEN PREDITORY AND UNFAIR THESE LAWYERS CAN NOT CALL THE KETTLE BLACK. THE ARE WINGS OF THE SAME VULTURE !!!
read this again !!!
You are absoutley right. Thanks for the info. I am opting out with compass bank now, just received a card last week.
you guys are killing me!! Humor always helps…anyhow I just got 44.52. Now I can put a half tank of gas in my little truck. WOWEE! I must of paid a good $2ooo in overdraft fees and closed my account years ago. It’s pretty pathetic…guess the lawyers made out well.
I have been with BofA since 2001. I must have had at least 6 or 7 different accounts since then, and at least $5,000 – $7,000 in overdraft fees. I got $12.48, and $2.44 or something like that. It’s ridiculous. They charged me so much money over the years! This is NOT FAIR! I should have gotten my money back, all of it. Not less than one overdraft charge. How is that fair. I’m telling my dad!
It is unfair to let BoA hoodwink me by charging me a fee for using my own money. Overdraft protection fees are a farce and a sham.
A word of advise, boa is waiting and prays you will screw up, 35.00 x 1000′s adds up quick, big money for boa. Think you can beat the system, give it a try!
BofA easily raked in 900 dollars a year for 10 years a total of 9000 dollars, I though this lawsuit would return me at least have of what they took. To my suprise i only got a check for 25.00 dollars. If i had crossed the bank they would have sent me to collections and ruined my credit. If obama can bail out the car dealers and banks maybe he can do the same for us. hahahahfartlol hah ha I know that if i work hard, I can make more money for the banks and attorneys. so intead im going to take it easy andtry not to bounce.
no way only 25.00 thats bs
We never got anything over 10 years at least 15,000 I know it`s more.My hubby still banks with them .THEY LEARNED NOTHING THEY STILL DO THE SAME THING……….. I had a ck for 350.00 go threw i was under went to bank next day and put money in to cover ck and overdraft and they already put in the mail 3 withdrawals from 1 week earlier all under 20.00.wanting to charge overdraft fees on all.BS
i just came on here to complain about the EXACT same thing. i am in afghanistan right now and i think my account had 7$ for a couple of days. i told my mother to hold off on my car insurance until i got paid. she didnt get the message and sent the check in. i checked this morning and noticed the check went through, and 5 “baby charges” from over a week ago popped up, it looked like this all in red negative charges
itunes song 1.99
amazon 6.43
amazon 8.32
amazon 9.10
gojane.com 20.22
and my “cleared check” sitting at the bottom with 147. its BULLSHIT. they took charges from a WEEK ago and made it look like i purchased those things after that “check” had cleared when in reality, my account was fine for 5 days and randomly i had these overdraft fees when my mom sent a check in . and all in ascending order. this is EXACTLY what bank of america got sued for, i really dont understand
January 4,2013. I haven’t received my check and I have a receive my account credit I like to know what happened .
I just found out the check’s were mailed out in November 2012 and we should of had them no latter then December 10th 2012.Ok so if that’s the case then were in the heck is my check?? It is now Feb 21,2013 I sure could use what money there gonna give me.
Andrea Rogers
Anaheim,California
Yeah There still charging extra overdraft fee’s. I took 40 out and they charged me 35.00 for it and the day before my check went in they charged another 35.00 so it was 70.00 on top of the 40.00 I am just waiting to get my settlement so I can leave BOFA.
We can all get back at them for this. Since they like scamming and robbing us as customer let give them a taste of there own medicine. Write a check for amount of about $2000 to someone u know with a business who will give you the money. Make sure you only have like $100 in your Account. When the Check clears and you get the overdraft fee just don’t give a dam. Forget about BOA or any bank that practice this and go to a Credit Union. All they can do is call u a try to bill you.