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

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

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: 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

 
  • Candace

    December 29, 2011

    I never received a check. Did you have to submit a claim form? The site said do nothing and you would still receive your check. I am still a BofA customer.

  • Marissa

    December 31, 2011

    I live in AZ and have not received anything. I did get the letter in the mail, and was informed that i didn't have to do anything. Has anyone in AZ received a check?

  • cheryl

    January 04, 2012

    Iam still waiting for my check. Recieved the letter was told not to do anything. So Im hoping it comes in soon.

  • Leslie, ks

    January 05, 2012

    I recieved the letter as well and havent recieved my check yet. Has anyone else had this problem or know who to contact?

  • Sol

    January 05, 2012

    For those who haven't received checks or have questions, here's the place to go:

    http://www.clossonsettlement.com/

  • Sandra L.Stanley

    January 09, 2012

    I live in Salem,Mass. 01970 Was wondering when my check will come?? And since it came looking like junk mail (shame on them for that) what happens if I threw it out unknowingly?? That's why Iam asking if you have a certain date I should be mindful of. And if I recieved it & tossed it...then what?? It should be my loose again at all....those checks should have made it clear there was a check inside. $98 may not be much to you but it certainly is to me. Thank You

  • Sandra L.Stanley

    January 09, 2012

    The htt:// is not in existance. Just tried & went nowhere fast. So this is how it is huh.BOA takes my $$ & I have to hunt then down to get what is rightfully my $$?????????????

  • Leslie, Ks

    January 10, 2012

    It's really annoying, you go to the www.clossonsettlement.com and it says you have to write to the Administrator to reissue a check. I think I threw mine away as well so I am going to go ahead and mail them a letter. I don't know what else to do...

  • Brenda

    January 19, 2012

    So i received a post card saying i was part of the settlement that i didnt have to do anything or fill any form & now i got informed that i had to fill out a form in order to receive payment is that true?????????????

  • betty

    January 24, 2012

    I too received a post card saying that not to do anything unless u dont need your refund and now its on the website that u have to submit the claim ?
    what should we do ? we had 2 accounts and paid more than 2000 bucks on overdraft .

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