Financial institution of America $66 Million Class Motion Settlement for Overdraft Charges

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Financial institution of America Overdraft Charges Class Motion Settlement

High Class Actions introduced that Financial institution of America lastly settled their overdraft charge class motion for 66.6 million . Roughly 5.9 million clients had been affected by this observe and are entitled to reparations.

Who’s Entitled

Anybody who was charged an Prolonged Overdrawn Steadiness Cost is entitled to this settlement based on the lawsuit.  Financial institution of America charged this charge if the $35 overdraft charge was not paid inside a sure time-frame. The Prolonged Overdrawn Steadiness Cost was claimed to be an additional charge for a similar factor, nothing new was supplied by the financial institution.

Financial institution of America has agreed that they won’t cost an Prolonged Overdrawn Steadiness Cost for at the very least 5 years as part of the settlement.

The next persons are eligible:

  • In case you had an account from 2/25/14 and 12/30/17
  • And had been charged an Prolonged Overdrawn Steadiness Cost at the very least as soon as

The way to Enter a Declare

There isn’t any have to enter a declare.  In case you had been billed an Prolonged Overdrawn Steadiness Cost you’re already entered into the settlement.  You’ll obtain your settlement robotically except you choose out.

The quantity will rely upon what number of occasions you had been charged the charge and the full variety of individuals eligible.

When you’ve got a BOA checking account the cash might be deposited instantly into your account.  In case you now not have a checking account you’ll be mailed a examine.

The exclusion date is four/20/2018

Here’s a hyperlink to the settlement’s FAQ part.


In case you had been charged one among these charges then this settlement is an efficient factor.  I like the truth that you don’t have to submit a declare and that have an effect on persons are robotically enrolled.

These charges are large enterprise for the banks and I’m glad that they’ve been cracking down on them.  It’s a part of the explanation I don’t really feel unhealthy taking their cash when signing up for $2400 in checking account bonuses annually.


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