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
Andy
November 23, 2012
Got 4.01 today...less than 1% of what was stolen from me.
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Miri
November 23, 2012
I received a check for $2.55 not happy! Lol
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amanda
November 24, 2012
I was wondering if the settlement paid off what you owed first then sent out a check?
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nancy
November 24, 2012
I just got a "postcard" check for 104. I don't bank with BoA anymore, however, my husband (who still does) DID get a direct deposit on his account. Although legit, it was only 1/10 of all their lifetime rip-off fees!!
Boa spells boa because they will eat you up alive. Also, I am convinced they are the antichrist. notice the 1-666 on their checks? Hmmm...
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melvin hux
November 25, 2012
boa what a joke they steal from us and we still use there bank.i bet the lawyers got more out of this then the ones that got riped off.
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Chad
November 25, 2012
I got # (yes, not 1 or 2, but 3) totaling roughly $60... Not bad, but I think they owe me more.. Considering one check came to my home in Oregon and two to my Grandmothers house in North carolina.. I am confused as to how the settlement was calculated..
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Leo
November 25, 2012
$55 for me :D
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Hector
November 26, 2012
I got $24.88 but what that bank had taken from me was over $2500 in overdraft fees. fee that should have never happen but as they flipped the statements they did. I wonder what amount the lawyers got i bet you over a million easy. crooks protecting us from crooks
Is this review helpful? Yes:1 / No: 0
joe
November 26, 2012
how do u cash it
Is this review helpful? Yes:1 / No: 0
Dave in NC
November 26, 2012
As far as I can tell, the postcard "checks" they are sending out are uncashable. I took my check to both the bank and credit union that I have accounts at and both refused to let me deposit it, much less cash it. The checks are drawn on US Bank, but when I went to a branch they wouldn't cash it either as there is a "hold" on the account. The teller also told me that had my bank taken it as a deposit it would have been returned unpayed due to the status of the account it was drawn on. I'm getting the feeling that even in the settlement BOA has found a way to screw us yet again. If anyone else has had better luck, please let us know what you did.
Is this review helpful? Yes:2 / No: 0
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