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
lynette akey
November 02, 2012
I GOT THE SAME POSTCARD AND THEY TOLD ME THAT I WAS ALREADY FILED IN THE LAWSUIT AND THAT I DON'T NEED TO DO ANYTHING ELSE BUT NOW WHERE IN THE HELL IS MY DAMN CHECK!!!!!!!!
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amber waves
November 03, 2012
I received my "check" today. It was an awesome 38 bucks. Please don't expect to receive ALL of your overdraft fees back. Effing crooks these people.
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Brittany
November 03, 2012
I never filed a claim with any settlement and just found a credit of $43 in my account today. I didn't even know what it was for until I did a google search. But for all of you waiting.. just wanted you to know that it seems they are still crediting!
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pam gutierrez
November 03, 2012
i rec'd a $118.00 credit in my checking account today!
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Renee
November 03, 2012
I just looked at my checking account online. There is a credit of $22.50 for overdraft settlement credit. I never took part in the lawsuit. I have no idea why I received it but I'm not complaining.
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Kathy
November 03, 2012
I just got off the phone with Bank of America regarding a $82.78 Overdraft Settlement Credit in my account. The representative verified that it is true that funds from a lawsuit are starting to appear accounts .
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Kdee
November 03, 2012
Found a credit for $71 in our account today. Nice surprise, but certainly nowhere near the amount of overdrafts and heartache we've paid in. But, like everyone else, we could have opted out of the class and pursued a claim on our own which would have ended up costing more than any fees we would have recovered.
To those complaining about BOA being the crooks responsible for you only seeing a fraction of the fees you've paid in over the years - WRONG! You can thank the tort lawyers for that. Whoever represented the class has made a pretty penny.
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Brittany
November 03, 2012
Wow,my mom received $370 in her checking account. She called me at 9am just to let me know and figure out what happened. Wonderful surprise for us!
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Andrew
November 03, 2012
$27.50 in my account, I'm going drinking!
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Antony
November 03, 2012
Got a credit of 41.97$
I wonder if they will keep giving out credits bi monthly until everyone's overdraft fees are settled?
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