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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

Regina

May 07, 2013

19.18 was my amount, the first one came ripped in 3's in an envelope. So I called and said I can't cash it. Recieved an actual check from BOA for the same amount..4 weeks later, my bank deposited it with no issues. I am still out 987.00 over 4 years, AND a third party collection agency called me last week telling me I OWED BOA 545.00. I laughed and told them to take a hike.

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Stephanie

September 30, 2013

Got a check today for $2.18, really? Should I even bother cashing this? They better send another check. This is a joke!!!!!

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lisa

September 30, 2013

i got a whole 1.53 it costs more to make send and cash this check. Send me some real money that you owe me this is a real joke.

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Sherry September 2013

October 01, 2013

I got a $4.80 check....really its not even worth cashing. Let me know when the real checks start
coming through the mail......

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DCody

March 17, 2014

Is anyone having problems cashing the check issued for Bank of America overdraft settlement? My check has a second payee unknown to me on it. Upon checking with the settlement admistrator, they are telling me that they are going by information given to them by BofA.

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