Bank of America Overdraft Settlement Checks Begin to Arrive - $98.16
Article Submitted By: Sol Nasisi
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 settlment site for more information.
Comments
Whocares, April 23, 2012
There are two lawsuits. One for debit card transactions that overdrew you which you had to file a claim for, this has been settled and paid. Then the other is for general overdraft fees which you had to do nothing on, this has been settled but appealed so its pending. The second one is more recent and could take a long time to be final.
Ricardo, April 21, 2012, April 21, 2012
I didn't received my check either. Don't know who to contact or what to do with this. We should all close our BoA accounts and send them a strong message. 9-10% is insulting.
randy lanier, April 21, 2012
My wife and i never recieved our checks yet.we recieved the notice in 2011 that we were part of the settlement,plus it stated that we did not have to do anything as for as filling out a claim form. so i'm asking when will we recieve our money? email us ranlenlanier@yahoo.com
Steven Brien, April 16, 2012
WOOO. Checks in the mail. You folks who say you have recieved your moneys from BofA are happy with the amount you got?. what is it about money that changes the american mentality. complain about it and when you get your woppin 90 something dollars everything is fine. Im still waiting. And according to the BofA overdraft settlement site, its till being held. Due to the fact that someone stood up for us who got robbed. The lawyers were going to get most of all the moneys from the judgement and what was left for us was 20-100 US dollars. out of the thousands took from us. If you took your check to the bank, then you basically agreed to get nothing. BUT dont fret. The courts are still deciding on this. On November 29, 2011, a Settlement Class Member who objected to the Settlement filed a notice of appeal from the order and judgment. Additional appeals may be filed. Under the terms of the Settlement, distributions will not be made, either by account credit or cash payment, until after the Effective Date of the Settlement. The Effective Date, as provided in the Settlement Agreement, will not occur until after any and all appeals are finally resolved which â depending on the speed with which the appellate court decides the appeal â could take approximately one to two years. Future developments concerning the Effective Date and expected time for Settlement distributions will be posted at www.bofaoverdraftsettlement.com. Please check back for updates.
Tammie, April 05, 2012
I recieved a post card but have not recieved a check...
t.j HOBART, March 18, 2012
NO CHECKS FOR OVERDRAFT CHARGES IN WASHINGTON,STATE.AS OF MARCH 15 TH 2012. WHERE IS ARE MONEY ,. THOUSANDS JUST POOR ME.
Dawn, March 14, 2012
You guys never sent checks out shame on you. I recieved a post card too saying no need to do anything, so now what ? do we need to sue the lawyer? send the people thier money. And stop posting with these fake people saying they got the cheacks (LIERS)
Emmie, March 14, 2012
Where is My check and i hope and pray to God that when i do get it is more than $98 i need it very badly and please dear lord let it be more than that i mean dang they didn't mind taking all my money from me so i don't see why they can take their time to give it back and why would somebody want to appeal free money lord help us in GA
Sandi Stanley, February 22, 2012
OK the courts have decided. When are we going to get our itsy-bitsy restitution check??? I mean after all wasn't BOA quick to take our $$$?? Is this going to be another 2 year wait just to recieve $$98 because if it is...it's just not right. All People who got post cards in the mail a few years ago should be informed when they are expected to get their cheaks. Why is it when the American people are due for a crimainal act brought on by someone else they have to wait forever to get what is owed. We knew what BOA was doing was wrong & went forward with it....lawyers get involve & they get a larger % of $$$ & they probly have their $$ now so....WHERE'S OURS????????????
azteca, February 01, 2012
BOA was ordered to pay back no more than 9 percent of the money they swindled from customers. A mere pittance of their over all losses. However their business practice have not changed. The timely delay of your transaction postings is still an effective strategy to rake in billions of undeserved dollars.
LINDA P., January 27, 2012
THIS OVERDRAFT THING REALLY BITES WHAT ABOUT THE MONEY WE HAD TO MAKE UP LIKE BILLS WE WERE PAYING FOOD WE WERE BUYING AND ALL THE OTHER THINGS WE WERE DOING.WHAT ABOUT THE MONEY SOME OF HAD TO BORROW FROM FRIENDS AND FAMILY TO MAKE UP THE MONEY THEY TOOK FROM US. THAT 35.00 COST US MORE THAN THE 35.00 THEY TOOK.PLUS ALL THE LATE FEES TO BILLS WE WERE PAYING BECAUSE THE WERE LATE GETTING PAID. I STILL HAVENT GOT MY MONEY FROM THEM.
Brenda, January 27, 2012
Im not sure what we have to do i wrote a letter. But sucks how even the information line on the settlement said that if you recieved a post card you didnt have to do anything so now im not sure if there's anything we can do now :(
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 .
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?????????????
Leslie, Ks, January 09, 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...
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 $$ & I have to hunt then down to get what is rightfully my $$?????????????
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
Sol, January 05, 2012
For those who haven't received checks or have questions, here's the place to go: http://www.clossonsettlement.com/
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?
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.
Marissa, December 30, 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?
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.
Pam, December 25, 2011
I got mine on the 24th! yeah!!! I had completely forgot all about this, but I sure remembered when the check came! Nice xmas present! thank you Bank of America. I finally got my revenge for all the overdraft fees they charged me over the years.
Aimee, December 25, 2011
I just received mine also and was wondering if it was legit. I called the Huntington Bank to make sure that it was a real check drawn to a real account and they told me yes. So thank you also for this article. A great Christmas present.
ross, December 24, 2011
i received a check today as well! i guess it's a nice xmas present for me! but i'm still curious if it's real or not. f it, i'll deposit it and if it clears, then AWESOME!
Brandy, December 24, 2011
Is this true? I was involved in the settlement, and didn't know when the checks would be mailed
Terri , December 23, 2011
Got mine yesterday and was glad to read this article..I wasn't sure if I should deposit or not. Thanks!
Jason, December 22, 2011
I just received a check in them mail today and I wasnt sure if it was legit. Your article really helped me. Thank you
