Bank of America Class Action Settlement
76Bank of America's Class Action Lawsuit
It gives me great pleasure to announce to all the people that have been ripped off by Bank of America, that compensation may be in the works!
Bank of America was recently court ordered to send notices to past and current account holders about a class action lawsuit concerning overdraft fees.
Not everyone will receive the postcard notice but if you had a checking or savings account and had debit card privileges with them anytime between January 1, 2001 and May 24, 201, you may get your overdraft fees back.
$410 million dollars has been set aside in case the court rules that they wrongly posted debit card transactions. They apparently were posting the larger debits first rather than the lowest debits deliberately causing overdraft fees.
You don’t have to do anything in order to get your fees back. If you currently have an account the fees will be returned to your account if the court finds Bank of America at fault.
We all know this has been common practice with Bank of America, they have not only posted larger debits first, they have always posted debits before credits causing tremendous overdrafts. If you make a deposit and have debits on the same day, the debits are posted before the deposit so they can collect overdraft fees.
They cannot identify all persons who paid over draft fees during the time period January 1, 2001 to December 31, 2003, so a certain percentage of that money will be given to non-profit organizations.
The public notice sent to account holder’s states that unless you exclude yourself, you are a part of the settlement and will not be able to sue them further. If you want to bring suit against them on your own you must exclude yourself from the class action suit. The deadline for that is October 3, 2011.
The court hearing will held on November 7, 2011.
Let’s hope that the court makes the right decision and returns illegally gotten money back to consumers. It’s about time somebody did something.
Check it out yourself, read the notice on the website listed below.
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Bank of America Class Action Settlement
- Client Settlement Site > Home
An explanation of the Bank of America Class Action Settlement, pending Nov. 7, 2011.
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It's a crime what banks are doing to people. They are also cheating lots of people with the foreclosures on homes.
Hey good news for everyone we will get the return for overdraft fees that we forcefully paid to bank of America that was charging us crazy percentages it was APPROVED ON NOVEMBER 7TH OF 2011 YEHEWWWWW!!!
I was a victim of that one too. It really is the only thing they could do. On the other hand they tried to make up for it by adding debit card fees. "It ain't gonna work"!
I always knew that boa (snake) bank of America was doing some very deceiptive practice, I would get paid on friday and by monday I would owe a large amount of fees. I wish I would have started the Class Action sooner.
Hope you're included in the list to get your fees back. They did have the habit of posting checks before deposits, thereby causing overdrafts.
galleryofgrace Hub Author 10 months ago
I suspect that the accounts they can't account for in 2001-2003 are the ones they sold to collection agencies!