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
Kei
November 03, 2012
I received a litigation postcard as well sometime last year and received a $48 settlement credit in my account today, which was great however I'm trying to determine how B of A came to that amount,I've paid way over a crappy $48 bucks to them in overdraft fees, freakin crooks!!!
Is this review helpful? Yes:0 / No: 0
Louise
November 03, 2012
$95 in my account today....it was nice to wake up to that. Thought it was a mistake till I goggled it. Very happy
Is this review helpful? Yes:0 / No: 0
Erik
November 03, 2012
I got... $2.55. WTF?
Is this review helpful? Yes:0 / No: 0
Jennifer
November 03, 2012
I got $131.16 deposited in my account today. It's nice, but I paid probably close to $5,000 in fees during my broke college student days...
Is this review helpful? Yes:0 / No: 0
Uncle Scrooge McDuck
November 03, 2012
I am going to put my $100.39 in my money bin and then dive into it and swim around. I also paid way more in fees but they were ALL my fault. BOA gave me many refunded fees over the years when it was an accident or an overcharge by someone else (one time AT&T charged me twice for the same cell phone). I knew how to game the account to keep spending even if it was overdrawn, damn the consequences of the next week! I am going to my favorite wing joint and buying my niece a b-day present.
Peace Out R&R 2012!
Is this review helpful? Yes:0 / No: 0
Tommy
November 03, 2012
I got a nice little $2.26 bump in my account. I never had an overdraft ever, so I will take the small amount of change...
Is this review helpful? Yes:0 / No: 0
Lloyd
November 03, 2012
OH YEAH! GOT MY HUGE CHECK FOR $21.24. Going to actually fill up my fuel tank today versus only half way!
Is this review helpful? Yes:0 / No: 0
Michael, Moorpark,CA
November 03, 2012
I just had to check my banking because something looked weird (in a good way). I didn't even know about this suit but I just received a deposit into my account labeled as "Chking Acct Overdraft Settlement Credit" for $117
Is this review helpful? Yes:0 / No: 0
Sonia
November 03, 2012
Woke up this morning and surprise surpise...I has an extra 108.00 in my accout. Yahoo!!
Is this review helpful? Yes:0 / No: 0
Brian
November 03, 2012
I think that it is good for future bank card holders and for BOA to have some accountability, BUT BOA was terrible during my years of being broke and they charged way more then needed. Their practices were to overdraft the highest amount first and then charge $35 for each additional draft. this adds up a lot over the weekends if your check goes in Friday night like mine. One of these runs of overdraft costs me ~$650. My $98 is a joke. I'll take it, but they made a lot more then what they settled for I assume.
Just my 2cents
Is this review helpful? Yes:0 / No: 0
Add your Comment
or use your BestCashCow account