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.
Comments
Tony
November 08, 2012
$12.73
The amount each customer might receive depends on how many overdraft fees were charted during the period outlined in the class-action lawsuit, but as expected each customer will receive only a fraction of what Bank of America charged in these fees.
From here:
http://www.consumerismcommentary.com/bank-of-america-settles-overdraft-fee-lawsuit/
Is this review helpful? Yes:0 / No: 1
mjc
November 08, 2012
I got a whopping $5.09. I had never even heard of this settlement until today when I googled it because of seeing the credit on my account. Sure would like to know how it was figured because I paid way more than that in overdraft fees and what I called their over over draft fees they charged when you didnt cover the 1st overdraft. They would give you five days to cover it but I wouldnt get the notice until after the 5 days were past. Bofa is bad about when the credit & debit stuff & whe your on a fixed income & get 1 deposit a month you really have to stay on top of their under handed ways of cheating you out of your money. I'm seriously going to go open a credit union account because I think I've paid Bofa way to much to handle my money!
Is this review helpful? Yes:0 / No: 0
brandy taylor -kinder
November 13, 2012
i got 7.49 from the settlement ..thats a far far cry from the money they took from me .. not counting the 1.200 they took from me to pay someone elses fees .i would luv to know how they came up with all this amounts ... i think they just didnt wan to pay what they owe everyone
Is this review helpful? Yes:3 / No: 0
Carrie
November 15, 2012
got a check today that looks like a postcard..trying to make sure it is legitimate before trying to cash this sucker...which is for a considerably lower amount than the thousands I was charged in overdraft fees...
Is this review helpful? Yes:5 / No: 0
Tom
November 16, 2012
I just got his post card looking check for $105. I never filed for any claim either.
Is this review helpful? Yes:0 / No: 0
julie
November 16, 2012
I too just got a check for $7.57. I've paid over $1000.00 in overdraft fees. I didn't really need a reminder that Bank of America is a bad bank :(
Is this review helpful? Yes:1 / No: 0
nelz
November 17, 2012
$197.65 i guess i got lucky haaaaaaaaa
Is this review helpful? Yes:0 / No: 0
Dawn
November 17, 2012
$224.34 Oh Yeah!!! Take that BOA!
Is this review helpful? Yes:0 / No: 0
Rick
November 17, 2012
$84.02 check today. Whee... Less than 10% on the dollar. I also had a "free" checking account because I opened it via the internet back in 2003. 2010 they started charging me $9.95 a month for my free acct when I stopped my direct deposit from my job. Refused to honor the free acct unless I went back to DD. My atty contacted them, they said they would refund me the fees plus honor the free acct as before. What did they do? Took my last deposit as "accumulated fees" and closed my acct. Put me in chex systems as owing them $53.00 and sent it to collections. Thieves plain and simple! I now use a no fee debit card from Amex. Live and learn.
Is this review helpful? Yes:1 / No: 0
G
November 17, 2012
$117.12 Today
Is this review helpful? Yes:0 / No: 0
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