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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

ELLY

December 05, 2012

YES, I RECEIVED THE CHECK WENT TO BANK OF AMERICA AND TOLD ME THAT THEY CAN NOT CASH THE CHECK, THAT I NEED TO GO TO A USBANK
I CALL THAT NUMBER IN THE POST CARD AND OH!!! MY SUPRISE IS NOT A SERVICE NUMBER JAJAJAJA.
BY THE WAY THE BANK IN INDIAN TRAIL AND ORCHARD IN AURORA IL THEY ARE NOT FRIENDLY AT ALL

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Bonnie Bradley grannyb64@verizon.net

December 06, 2012

My son received acheck for $81.15. Somehow half the ceck was torn apart. We don't have the control number but we do have the date of the check. He could sure use the money right now. Do you have a sight where one can go to find the control number? It was made out to Michael Bradley And/or Allison Kiefer. Pleaselet me know so we can research this problem.. Bonnie Bradley

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mary

December 12, 2012

i didnt get a check :(

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Mark

December 19, 2012

It's December 19 2012 and I still don't have a check

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Travo

December 19, 2012

31.21 is that it, BOA has taking so much from me.

Is this review helpful? Yes:1 / No: 0
Jason howell

January 08, 2013

the whole thing is a scam. the address to complain is a dead end, the phone number answers nothing and the Web site is completely useless. who got all the money and where are they hiding?!

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Katie

January 20, 2013

BoA unfairly took over $300 from my account with their shady accounting practices - and I got a check for $4.41!!!! An I supposed to be happy with this?! It's not even worth the time to deposit the check, it's just another slap in the face from a bank that could care less about this "hit."

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Chad

February 28, 2013

Lawsuits and settlements on make lawyers richer. They took all of the lawyer fees and court costs out of the $35,000,000. They probably got more than half.

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Jay

March 24, 2013

Really, BOA?! $2.55?! Is this a joke? All my time and money wasted is worth that little to you?!

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Me

March 31, 2013

I got $ 0. 29 should I cash it?

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