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Bank of America Overdraft Settlement Checks Begin to Arrive - $98.16

Bank of America Overdraft Settlement Checks Begin to Arrive - $98.16

Author: Sol Nasisi on December 22, 2011 - modified on October 11, 2018

In January 2009, we wrote about a settlement reached with Bank of America called Closson et.al., v. Bank of America. Nearly three years later I received my check and it was a nice surprise- $98.16.

In January 2009, we wrote about a settlement reached with Bank of America called Closson et.al., v. Bank of America. The settlement resolved a class action lawsuit filed over overdraft fees. According to the lawsuit, Bank of America engaged in practices which caused customers to overdraw their accounts more frequently. The bank settled the lawsuit for $35 million with an estimated payout of $78 per account.

As we explained in the original article, to claim the settlement, eligible customers needed to file online or mail in a claim form.

Nearly three years later I received my check and it was a nice surprise- $98.16. If you filed for the settlement award then look for a check in your mailbox over the next week.

For those of you who have questions about the settlement or haven't received your check, you can visit the settlement site for more information.

Sol Nasisi: Sol Nasisi is the co-founder and a past president of BestCashCow, an online resource for comprehensive bank rate information. In this capacity, he closely followed rate trends for all savings-related and loan products and the impact of rate fluctuations on the economy. He specifically focused on how rates impact consumers' ability to borrow and save. He also has authored a wee

Comments

robert ramos

January 11, 2011

No payment yet? called around 6 times to that automated system and sent a overnight express 5 weeks ago 01/09/2013 with all my information even including my checking accounts going back 2003 when i opened my account to current. Right now i am working on contacting the courts in florida :( ..

Is this review helpful? Yes:2 / No: 0
Jason

December 23, 2011

I just received a check in them mail today and I wasnt sure if it was legit. Your article really helped me. Thank you

Is this review helpful? Yes:2 / No: 0
Terri

December 23, 2011

Got mine yesterday and was glad to read this article..I wasn't sure if I should deposit or not. Thanks!

Is this review helpful? Yes:2 / No: 0
Renee Brown

December 23, 2011

I recieved my check this morning..

Is this review helpful? Yes:3 / No: 0
Brandy

December 24, 2011

Is this true? I was involved in the settlement, and didn't know when the checks would be mailed

Is this review helpful? Yes:2 / No: 0
Sol

December 24, 2011

Yes, this is true. I did receive my check.

Is this review helpful? Yes:2 / No: 0
Carol

December 24, 2011

I just got my check! :)

Is this review helpful? Yes:2 / No: 0
ross

December 24, 2011

i received a check today as well! i guess it's a nice xmas present for me! but i'm still curious if it's real or not. f it, i'll deposit it and if it clears, then AWESOME!

Is this review helpful? Yes:2 / No: 0
Aimee

December 25, 2011

I just received mine also and was wondering if it was legit. I called the Huntington Bank to make sure that it was a real check drawn to a real account and they told me yes. So thank you also for this article. A great Christmas present.

Is this review helpful? Yes:2 / No: 0
Pam

December 26, 2011

I got mine on the 24th! yeah!!! I had completely forgot all about this, but I sure remembered when the check came! Nice xmas present! thank you Bank of America. I finally got my revenge for all the overdraft fees they charged me over the years.

Is this review helpful? Yes:2 / No: 0