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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

Kristin

November 03, 2012

I simply had a credit of roughly $30 posted to my checking account even though I never filed for the settlement award. Came upon this as I googled "checking account overdraft settlement credit".
Nice surprise, I guess :)

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KW

November 03, 2012

Got a $4.51 credit but have not had an overdraft for 20+ years. Very strange.

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Saralyn

November 03, 2012

I was one of the ones who got a lovely $2.55 into my account.... Lol that was a joke.

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BofT

November 03, 2012

I got $68 in my account today. Was a nice surprise, but as many have said before, I have paid way more in fees over the years. They were pretty much all my fault though :)

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Anna

November 03, 2012

Got only $5.06 :-(

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tk

November 03, 2012

got 52.00 today...needed the cash so can't complain

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David

November 03, 2012

I got my $9, big mac meal here I come :D.

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ben

November 03, 2012

i got like 3 bucks
but ive over drafted many many times over the years because how they would process the higher amount charged first before the rest.
i would of thought i got waayyyy more lol
is this a 1 time think only???

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Kon3

November 03, 2012

Got ~$150 in that settlement. Not bad.

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April

November 04, 2012

Wow! I received $101 bucks today, credited to my checking account from BOA! I'll take it!

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