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

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

Author: Sol Nasisi on December 22, 2011 - modified on October 11, 2018

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 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

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Comments

Sandra R.

November 26, 2012

I just received a "postcard" looking check for the amount of $28

Now my question is...are these wierd looking checks cashable? Can I just deposit it?

Is this review helpful? Yes:0 / No: 0
Drew

November 26, 2012

$4.36 What A Joke

Is this review helpful? Yes:0 / No: 0
Steven S.

November 26, 2012

Got $73.54 will any bank take it??

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kanisha

November 26, 2012

i only go $25,now where do i cash it? i dont have a bank account.. ;-(

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Amanda

November 27, 2012

Mine was only $5.35 which is extremely disappointing but at least the postcard checks are actually real. TD Bank deposited it for me no problem or hassle.. I do have an account with them but no signs of the check bouncing yet.

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Rosa

November 27, 2012

I received $52.16....and yes, I paid out hundreds of dollars in overdraft and other fees, but something is better than nothin...there aren't any US banks in Texas and I don't bank with anyone anymore after BOA, I just want to know where I can cash it.

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rammin727

November 29, 2012

where di we cash these checks?

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Amanda

November 29, 2012

TD BANK WILL CASH THEM!! or at least deposit them

Is this review helpful? Yes:1 / No: 0
Ray

November 29, 2012

I was unable to deposit the check into my current account.
I just called US Bank and spoke with a "banker" (after a l-o-n-g process of "press one for delaying tactics" -LOL), and she said that the checks were good, but that you must present them at BofA to cash them.

Hope this helps.

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N. Thomas

November 29, 2012

I cashed mine today at Bank of America $83.00 .

Is this review helpful? Yes:2 / No: 0