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Bank of America Settles Overdraft Fee Lawsuit

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If you qualify for the Bank of America overdraft lawsuit settlement, you may have already received a postcard in the mail from the bank. Here is information on the overdraft lawsuit, only one of many class action lawsuits against Bank of America. If you recently received a check from Bank of America for about $98, you have received a benefit from an earlier class action lawsuit pertaining to the bank’s debit cards. This article pertains to a later lawsuit regarding overdraft fees.

November 21, 2012 update: Former Bank of America customers are reporting receiving postcard checks. All checks will be sent by November 30, 2012, so some former customers may receive theirs in December. Current customers are receiving their refunds as account credits, as described below.

November 2, 2012 update: The appeals filed after the judgment of settlement was announced have now been resolved. Bank of America customers who were part of the settlement class — those who initially received a postcard informing these customers of their involvement — should receive an account credit or a check to their last known address by November 30, 2012. The amount each customer might receive depends on how many overdraft fees were charted during the period outlined in the class-action lawsuit, but as expected each customer will receive only a fraction of what Bank of America charged in these fees.

Some customers have already reported receiving credits in their Bank of America accounts.

Here’s how the amount is calculated, somewhat simplified. Bank of America re-ordered the debits that caused overdraft fees during a certain time period beginning in 2001 and determined each customer’s amount of over-charged overdraft fees. That amount was reduced by any uncollected amount (if an account was closed with a negative balance). If one customer had $100 in adjusted overcharged fees and Bank of America was determined to have $10,000,000 in overcharged fees total, that customer’s share is 0.001%.

If the total settlement available for class members (total settlement minus lawyers’ fees, expenses, etc.) was $1,000,000, the customer would receive 0.001% of that, or $10.

September 2012 update: It’s been nine months since an appeal to the judge’s decision has been filed, and there is still no resolution. The $410 million awarded to the settlement class is still in dispute.

December 2011 update: While the judge has approved Bank of America’s settlement related to the overdraft class action lawsuit and has ordered Bank of America to pay $410 million, a member of the settlement class who objected to the settlement has filed a notice to appeal the ruling. With an appeal filed, it could take at least a year for the issue to be resolved. If the appeal is denied, customers may still be disappointed. With 13.2 million affected customers in the class and fees to be paid from the settlement fund to the lawyers and class representatives, the benefits each customer will receive are sure to be less than the value of a refund of even one overdraft fee.

Any compensation to affected customers is on hold until the judge enters the settlement and any appeals are filed.

Like many banking institutions, Bank of America processes debit transactions not at the time they occur, but in a batch, from largest to smallest. If they don’t still take this approach currently, they did in 2009 when a class-action lawsuit combined several other legal actions. 24 other banks in the United States and Canada were named in the class-action lawsuit, including Citigroup, Chase, and Wells Fargo.

The banks say that by ordering debits from largest to smallest benefits customers. For example, mortgage or rent payments are generally the largest debits, so they should receive priority and should be the first to be paid. This is not how it works in practice, however. The system is designed to make more money in fees, particularly from the paycheck-to-paycheck class of customers.

For example, five debits may be scheduled to post on a Monday:

  • $800 mortgage payment (check)
  • $200 purchase at the grocery store (debit card)
  • $100 withdrawal at a different bank’s ATM
  • $25 purchase at the book store
  • $4 coffee

That’s the order the funds will be taken from this person’s account. If there is $900 in the bank account, the mortgage payment will be processed, but the four other transactions will generate overdraft fees, one for each, likely totaling more than $100. If the debits were processed from smallest to largest, only the mortgage payment would cause a problem, and the check will bounce. This could cost the account owner less money, but a bounced mortgage payment could be troublesome.

In the more likely event that there is only $500 in this checking account, ordering debits from largest to smallest ensures nothing will go through without generating a fee. However, ordering the debits from smallest to largest, only the mortgage payment would bounce, and there would be no overdraft.

Bank of America will be paying $410 million to settle the class-action lawsuit, which also notes that the banks did not tell customers they could waive overdraft protection, allowing certain transactions to fail rather than paying a fee. Not every bank handles activity posting the same way.

The deadline to opt out of or object to the settlement was October 3. The official website for the settlement is bofaoverdraftsettlement.com.

Photo: Wonderlane
Reuters

Updated November 21, 2012 and originally published July 12, 2011. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.

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About the author

Luke Landes, also known as Flexo, is the founder of Consumerism Commentary. He has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about him and follow Luke Landes on Twitter. View all articles by .

{ 1396 comments… read them below or add one }

avatar HEATHER CARNLINE

Here is my email as well if there is anything that we can do to get what is rightfully. Ours that they took from us please let me know

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avatar Bee Jay

When I tried to close my account after my realizing what was going on, Bank of America policy said no. They refused to closet the checking account until it was over $700.00. (Trying to push me into a felon or something) and just let it go up and up until I had to leave my apartment because there is 6 months of pain between no money and SSA at least.

Does the FTC or any other agency actually following what the bank of american is doing for restitution. My savings account for $1.34 is frozen also. The banks and loan sharks are killing us down here.
Bee Jay

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avatar Brenda Jones

I have not heard from anyone. i think I will contact the Federal trade Commission and the Better Business Bureau to see what they have to say. thge payoff is ridiculous if it is $98 or even close. This crap cost me over $700 and caused me to be unable to pay my rent which meant eviction. I am sick of the runaround by big businesss, especially banks.

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avatar ned yost

I contacted the FDIC and they gave me a BS story about how its not controled by them and This is what they sent me.

Dear Mr. Yost::

Thank you for contacting the Federal Deposit Insurance Corporation (FDIC). The FDIC’s mission is to ensure the stability of, and public confidence in, the nation’s financial system. To achieve this goal, the FDIC has insured deposits and promoted safe and sound banking practices since 1933.

In July 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law. The Act created the Consumer Financial Protection Bureau (CFPB), which began handling consumer complaints on July 21, 2011. Based on our review of the issues you raise in your correspondence, we believe your concerns should be referred to the CFPB for assistance. We have taken the liberty of forwarding your correspondence to the CFPB at the address below.

Sincerely,

Consumer Response Center

Federal Deposit Insurance Corporation

Division of Depositor and Consumer Protection

Consumer Response Center

1100 Walnut Street, Box #11

Kansas City, MO 64106

1-800-378-9581

Fax number 703-812-1020

cc/enc: Consumer Financial Protection Bureau

P.O. Box 4503

Iowa City, IA 52244

Telephone: 855-411-2372

Website: http://www.consumerfinance.gov

I haven’t gone any further with it. I have been busy for a change! YeSSSSSSSSS

It cost me over $1000 with them changing the order of things and causing 5 overdraws when There should have only been 1 And I was prepared to pay the $35 fee but they changed it up causing me monthes of hardship. I got a deposit in my account of $3.25 for the over 30 overdrafts that occured because of this. Until I saw a notice when I tried to withdraw cash. They Never let me know they pulled $175 for the over drafts. I had deposited my check and expected the $35 i knew I had coming and didn’t look at the balance. They never e-mailed me and let me know they had done this. I had $35 fees for buying a $3.29 gallon of milk? $10.00 in gas? I live paycheck to paycheck. and I was screwed for a long time for no reason other than Bank Of America’s Greed on stealing from the poor. I was actually on unemployment when this happened Everything snowballed in less than a week.

P.S. they said they forwarded my e-mail to the Consumer Financial Protection Bureau. I never heard a thing from them.
But like I said, I was to busy to deal with them. Its hard to write with out getting frustrated all over again, And it sucks getting kicked repeatedly when your already down in the dumps and totally stressed out.

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avatar Maddy

So I got my 60.00 someone suggested filing a complain with the Consumer Financial Protection Bureau . I did and I just got something from BOA . No letter just a copy of Deposit Agreement and disclosures. No where in there does it say they can put my checks in any order to bounce more, hold cash and other deposits to bounce more to take my money. I called the CFPB and they got a form letter that states that I need to look at the agreement . I kept my part of that agreement they did not. I can’t say I’m surprised with what I received it’s actually more than I expected. I am so happy to be out of there

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avatar Sandra Baxter

I was charged hundreds of dollars in over draft fees and i received a check for $2.25, i was told the lawyer who handled this case received a lot of the money and that is why i was given only a couple of buck. This is so wrong. I should get what they(BOA) took from me. This is a rip off

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avatar Marvetta Hendricks

I am a bank of americia customer I never received any thing for overdraft fees.

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avatar LEE

I;m still waiting on some money from BOA and i see i’m not the only one right? I have lost lots of money with this bank…. How can i get my funds from them?

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avatar Scottatto

They did that to me twice within 5 years, totaling around $1500, I never got a dime. I even received the card that said I didn’t have to do anything but wait for the settlement to go through then I would receive money with the rest of the people in the class-action suit. However, I believe they were all finally given $70 or 80 dollars each? I never even got that. If you want your money from an entity that will not pay you, that straightup robbed you –you’re only real option is the ski-mask approach that they used on you. If you don’t know what that is, figure out how they used their trust factor/powerfactor (mother control drama used on children) to slip hundreds/thousands/millions out of your pocket. LEGALLY, YOU CAN’T DO ANYTHING ABOUT IT. WHY? BECAUSE THE PEOPLE ALWAYS PICK UP THE TAB FOR BANKS AND DISHONEST WALLSTREET BROKERS.

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avatar Ned

It happened to me once for about the same amount and I got $2.55 and like you said there is nothing we can do. If you didn’t opt out of the suit your done. They knew all this and used it against us. I will garantee that Bank of America set all this up to cover their own asses. The total amount was supposedly $410Mil Did they pick that number out of a hat. I bet it was more like $410Bil They had all this figured out before they ever started changing the order of our debits. They had the lawyers figure it all out. there used to be a saying “it takes money to make money”, now its “it makes money to take money”as long as its lawyer approved.

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avatar Christian

And what really sucks is as transparent as our society is in the mean time, what message are we sending to the children or the future Americans.

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avatar ned

Steal as much as you can, Hire a lawyer to tell all you have stolen from, They are covered by law unless they opt out. then give them back a nichel on every thousand you stole from them. In other words the judicial system is set up for the rich to steal from the poor and take vacations with what they have stolen.

avatar Jordanne

I got $30 deposited into my account a while ago

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avatar MARIKA

last week i paid off my overdrawn account..so everything was back to normal ..no overdraft fees no overdrawn negative balance.Until few minutes later they drop another $35 and it gets my account back to negatives..i asked them why and they said that is the extended overdrawn fees from last week ..i said what the heck dude i have my receipt saying that my account is clear and there is no pending charges or anything and they end p..refund that 35 dollars back..Then they told after 5 days your account still overdrawn they will charge you 35 dollars.Right now my account was overdrawn a day ago and now they already drop a 35 dollars overdrawn fees already.Its only 2 days bro..come on BOA.

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avatar Ned

Yes that is a new way of screwing us. every 5 days they charge you $35 even if it is only $.01 they can charge you $70 in a 5 day period. I thought loan sharking was illegal. They are worse. Let alone they are still changing the order of debits with in a 5 day period. some things they take out right away and some they take out days later. I just got the General ins. for a car and they sent me a receipt saying thanks for the payment instantly but BOA claimed the didn’t pay them till 8 days later. I checked my balance 3 days after the ins. payment and couldn’t for the life of me figure out my true balance. They will do anything to try to get you to overdraft and they don’t always tell you your overdrawn right away either. I guess they are trying to get an extra $35 in extended over draft fees. I am leaving them as soon as I get my account straightened out they have nailed me for $783 in overdraft fees just in the past year. Now if you over draft by check they add another $12 for writing a bad check even though they do cover it, Of coarse they cover it so they can charge the $12 fee on top of you $35 and possibly an extra $35 for extended overdraft fee since they don’t tell you right away. Unfortunately its hard these days to live with out a bank account. To think 15 years ago I went to BOA to cash my payroll check that was drawn on their bank, I didn’t have an account then and they charged me $7.50 to cash a check from their bank. That is when i opened an account with C&S bank in FL. Well a couple weeks later it got bought by Nations Bank. Anyone know where this is going? about a year or more BOA bought out Nations Bank. S.O.B’s

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avatar Lori Knechtel

My situation is different than yours.
I requested 1 land payment to go out and they took 2 out.
They refuse to correct their mistake and caused my account to go severely
over drawn.
I live on a fixed income and can barely afford to make my payments and eat as it is.
If I let it go then I will still be owing to them. I need a class action law suit against them
for their mistake.
My grocery bill is 200 a month and I have a child at home. I can’t afford to cut my grocery bill any more. We need to eat.
We have health problems that require me to take medication.
I have to pay for that as well.
I think they need to put the money back in my account and get things straightened out.
When I went in to try and rectify this problem. The bank manager would not talk to me,
and let one of the employees take care of it. The woman looked at me with all my
information and said; what do you want me to do about it?
I stormed out, because she would not help me.

Now you see my frustration. She made me so mad that I just could not talk to her or anyone for that matter.
That is when I started looking for a class action suit.

Not to mention that the B of A here, switched to Washington federal.
I think that is why she did not want to do anything.

If you see of any way that B of A can rectify my situation without getting
it out of my pocket, then I will be so thankful to have this mess straightened out.

Lori Knechtel

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avatar Ned

You don’t want a class action suit you need to find a lawyer. A class action suit only makes lawyers rich. In the original suit I had had over $1000 taken for wrongful fees and I only got back $2.32. I have no idea how they figured each individuals amounts? Its a big mystery. I would think now that the suit has proved BofA was in the wrong so it should be easy to win a suit for the same reasons they were sued in the first place. With your situation you might even be able to get it done Pro Bono. Google Pro Bono and you should get several options for the state you live in. Good Luck! Let us know how things work out. it could help many others in a situation like yours.
P.S. the $783 they have taken from my account was for a total of 6 overdrafts totaling $1.27 That comes to $4.60 They have taken from me for each penny I was overdraft. All because they change the order of debits or hide them.

avatar Rhonda Corley

BoA took was authorized to draft our April house payment from our checking account, but instead they drafted it twice, by two separate parties in the company, which caused our account to overdraw, this was April 1. It’s now April 5, they finally refunded the house payment, but did not refund any overdraft fees, and our bank will not refund them because they say it’s not their problem. I am on a limited income, my husband was laid off in October, we have been working with them on a Modification, they are screwing us everyway we turn. So I am having to eat all this money. Is there no one that can fight this corporation and put them out of business. They are the most unprofessional, uncaring group of people and don’t even qualify to call themselves PROFESSIONALS. I am seriously considering walking away and leaving my home and let them have another foreclosure to add to their conquests.

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avatar Carlo E Iwen

Just give as much negative publicity as possible to everyone u come in contact with.

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avatar Abe Mathew, USA

I totally agree with you Rhonda. My business is broken and my wife is the only person working and we have been working with them on a Modification. We waited almost 6 months and as u said they the Bank of America bank screwed us everyway they can. Every single day I was getting FedEx package even after I applied for this crazy Modification. I send each and every document they demanded. At last they said they did not get the right info and said we are not qualified for modification. Their CS is so messed up, they keep on changing their Customer service team without any notice.
So Bank od America is unprofessional and uncaring group of people, period.

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avatar Rhonda Corley

Something else I found interesting, Ms. Bridget Grier of the Office of the President and CEO, Home Retention Department of Bank of America told me that had we had our checking account with Bank of America and not with another bank, and they had taken an extra payment from our checking account in error, they could have fixed it the same day. This sounds to me like what she was really saying was that they would fix their mistake quickly because by having our checking account with them, they would be assured that I was helping to keep them in business. But since we bank here in Tallahassee with a local bank, they don’t care if we can’t buy groceries, put gas in our car or anything else because of Ms. Grier’s error.

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avatar Kathryn Fishburne

I never received a check either!

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avatar Jennifer Lambert

I didn’t get anything either. I think a lot of people didn’t, which really sucks lemons. I wish the lawyers hadn’t gotten my hopes up for nothing.

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avatar Desiree Williams

I received a number of overdrafts on the same day my check was deposit. Plus overdraft balance charges a few times or more . I closed my checking and just kept my savings account . I’ve been with them for over 10 years. I feel cheated!

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avatar SUSAN REALI

I moved, was my check sent out and sent back My new address is:
242 HALL RD
BAILEY, CO
80421
Please let me know asap.

Thx,
Susan

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avatar Luke Landes ♦127,365 (Platinum)

Susan: Unfortunately, you can’t accomplish anything by leaving your new address here. You’ll have to contact the settlement administrators.

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avatar Kimberly Frierson

Hello Mr. Landes, I received a postcard as well and never received any funds and I also contacted the settlement administration via mail and still no reply so what’s the next step that citizens should make to receive the funds that is rightfully theirs?

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avatar stephanie

Can you please provide the name of the law firm that filed the Class Action suit? They sent me a letter in the mail and I don’t understand what it is they want me to do. I need a phone number – as I have already written them once.

Thanks!

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avatar viola WALTERS

I RECIEVED A POSTCARD IN 2011 SAYING MY NAME WAS ON THE LAWSUIT LIST BUT I HAVE NEVER GOTTEN A CHECK

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avatar Rhonda

I find it amazing that Bank of America took hundreds of dollars of our money. Illegal practices and when you filed a complaint because it wasn’t a American bank you had to go through a different agency.. They proved the case as all we got was a Small check that wouldn’t even buy McDonalds…I am sorry Maybe I should SUE the attorneys who decided they should make millions while the people who lost money DIDNT GET even 10% of their losses……there is a problem here and its time we start looking into the scams of the suits not just the corrupt bank

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avatar dnice

Another case of the rich preying of the middle class, go one dollar over and get hit with a 35 dollar fee. The person might not know and make 3 or 4 transactions even if they’re 1-2 dollars over like a cup of coffee, they will be hit with a 35 dollar fee for each transaction. Pure rip off!!! I no longer bank with BOA!

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avatar Wannette Allred

I never received any compensation monies from boa and they charged me numerous overdraft charges.

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avatar ghostangel

the same thing happed to me and i got a card in november of 2011 saying i was included in a class action suit and did not have to do anything to collect then i found out that payments were made nov of 2012 and i still have not gotten any money

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avatar Kathy Rains

Well now…Maybe WE could File MASS Complaints with the State (Federal Bar Association)? Any ideas on this? BOA charged THIS single mother $2000.00 OD FEES during the time in question due to their ‘stacking’ and paying checks. Mass Info to the MEDIA Nationwide regarding the NAMES of the sweet ‘Attorneys’ Firm that RAN with all of the ‘paybacks’? There MUST be SOME recourse against this. FDIC, FBI maybe? LETS UNITE (OURSELVES) ON THIS ONE! Kathy Rains, Clearwater, Fla. (Facebook) We should NOT have to suffer this kind of Financial Abuse!

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avatar ghostangel

i agree i should have gotten spomething in this case yet i got nothing and dont know how to get my check i got a notice that i was included in the law suit in november 2011 then i found out payments were made in nov 2012 i could really use the money bank of america charged double fees if you were over drawn for five days or more they charged you another over drafr fee and for those of us on social security this was hard

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avatar Wannette Allred

I agree they charged me quite a few overdraft fees. Did they just pick certain individuals then how come we were excluded. We should still be able to use some kind of recourse. We need to band together, I am sure there are other individuals like us.
W. Denise Allred in New Port Richey, FL

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avatar ghostangel

lets get together and sue the lawyers and the law firm we dont have anything else to loose

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avatar Maddy

Do you think we could get a lawyer to sue other lawyers ?

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avatar Wannette Allred

They said in the lawsuit as long as we didn’t sign anything we could take Boa back to court. As we are now not part of that lawsuit. Alls we need is to find an attorney who would take our case.

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avatar gloria campbell

i am absolutely furios. we were told by the drafts they sent out that each couple would get 5,000.00$or 2,500 per person. when i got a 22$dollar check i called their attorney in miami and their response was that that wasn,t the reason for sueing it was to make them do the right thing. i have wondered myself if the atttorneys could be sued, i bet they got their money!!bottom line we were lied to and i have the proof of there promise and it wasn,t a maybe it was a statement.Wat can we do!!!!

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avatar Tekakce Blunt

SO SICK OF THIS BS WITH BOA .. YOU HAVE CHARGED ME OVER 1700$ IN FEES ONLY TO TRY TO WORK WITH THE INVESTIGATOR ONLY TO BECOME PART OF THIS LAWSUIT. STILL YEARS LATER NO CLOSURE.NO INFO …

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avatar Jordanne

Actually it is the exact OPPOSITE, in order to opt out you had to write a letter to them stating that you wish to do so… in my opinion THAT is what is messed up, most class actions you actually have to send a form in or something. Somebody could have moved and not even realized they were included in the lawsuit.

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avatar Chrstian

I just closed my account with Bank of america at 102nd ave and 66 st N in pinellas park florida due to the fact that they could not keep my money secure. And then turn arround charge me for a bounced check when someone had access to my accounts somehow and would take my money from my primary account and put it in my ebank. Twice this was done and they had me put in a report to the propper authorities. I had requested all the hard copies of my transactions over the last 6 months and found that there was 371.00 missing. You know what they told me , oh were going to have to charge you 35.00 an hour to track down this missing money. I don’t do any online banking so I can avoid having some thiefe come through and steal my money but, to no avail. I my self will never go to this bank ever again and will let anyone that is thinking about an account with this bank what had happened to me . Not to mention the way they handled things were very unproffessional manner. At this point I don’t even care about the money , I’m just gladd i no longer have my money there.

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avatar ned

That is their new way of making billions each year. I bet the lawyers that handled the class action law suit don’t even bank with them. I wonder how many people who have thousands in their accounts have been cheated out of funds and have never noticed. i bet they skim funds from every account each month. I have yet to figure out why back in 2008, Bank of America got one of the largest government loans and they paid it back in less than a month. They were never in trouble from the economy yet they took billions from the government. I bet their was some kind of way they made a huge profit with the governments money and they didn’t have to pay interest.

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avatar Mario Gonzalez

I never received a penny, i call like three times but they and mail a latter but they just keep ignoring me. not paymen to answer

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avatar Brenda Jones

I never recieved even a small check. The overdraft costs me $700 and an eviction. I am on disability and my life has been hell.To top it all Bank of America still has a savings account in my name but won’t let me have a checking account and have black ballled me from opening other accounts because they say I owe them money. i check with CashChex systems and there is no such system. DO they get to role over me at will, really. I recieved a card to verify that I was a part of their accounting game. That settlement was a game. Do I get my part or know. Can they continue to keep me from having a bank account. I am disabled and 59 years old. When is enough enough.

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avatar Brenda Jones

Whose website would go there. I do not have one. Maybe the $1.41 the Bank of America is keeping hostage should have paid off what ever they say I owe.

Brenda.K Jones

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avatar cheryl

i have been a customer since 1999 and have received 0 zero, nothing

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avatar Susan Jackson

Received the card at my new address. Waiting, waiting, waiting. Nothing. There should be a class action lawsuit or some form of enforcement.

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avatar john vaughn

I like many of you received this post card leading me to beleive that reinbursements would be forth coming which has been several months ago and that if any money was to be refunded to me that it would be in the mail as soon as the court started disbursing the pile of money.. I closed my account with Bank of America somewhere in 2011 due to the fact I felt they used online trickery in posting to my online account. In other words the transaction appeared and then disapeared leaving me always showing that I had more money than I though!. I made an inquiry with Bank of America and was told that yes it would show up but then be put back into my account balance until the check holder actually made his or her check withdrawal. I don’t know how many times this occured before i wised up and called the bank for an explanantion and was told that I needed to always keep a check registery like you had always done when online banking had even been conceived. I have absolutely no idea how many overdraft fees I paid before being explained all the tricks of their trade. It was just a brief month or two before I realized something was wrong.. It just seems like they paid off their govenmental loans in the first quarter of 2012 if I am not mistaken. In my opinion they did this trick in order to repay their indebtness to the govenment in record time. One way or the other whatever if any I get will be just a guess on my part and it is my belief it want be more than lowest fiqure that they can get away. It would seem to me that the court should at least send another card telling us what their best guess would be if any in regards to the approximated date of the disbursement. You know Benjamin Franklin was against the creation of banks and in retrospect with the condition of the banking system today we all would be better off paying cash for everything as we go. It seems anymore if I am even one day late all of my creditors start sending me e-mails. I guess those fortunate few that have incomes that exceed their monthly expenses need to start burying their excess cash in somebodies yard with coordinates where a gps might get them to the right spot in the yard. The biggiest problem with a gps system is having to keep a black book with all the coordinates. Would you want to put the black book into a safety deposit box in a bank?

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avatar ned

B of A
Has now changed their overdraft policy. Now when you overdraft your account you are charged $35 and if you don’t put some of that money you don’t have, Into your account with-in 5 days. They charge another $35 and continue to charge it every 5 days until you learn how to print your own money and saticefy them. I think banking laws need to be rewritten. I know most people don’t get paid every 5 days.

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avatar Brenda Jones

I was a part of the class action suit and was never paid anything. Now Bank of America is stopping me form getting a bank account because I owe them. NOT!

Brenda Jones 913-481-0071

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avatar Lori L. Baker

I had been charged many over drafts, how come I haven’t received any monies???

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avatar ned

You only get monies and very little if your overdrafts were charged because they switched the order of your debits. causing more than 1 overdraft at omne time when there was enough to cover all debits except one. That is what the whole suit was about. They illegally changed the order of transactions to gain more charges. they put the transactions in order from largest to smallest, Some of them were rearranged over a couple days even though the overdraft didn’t occure till the final day of the rearranging.

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avatar Rhonda

Yes they did this to me quite often to the point by the time I left my account was overdrafted on the same day as my paycheck got deposited 4 weeks in a row….I received my check today….they charged me too much money to count and I did call and file an official complaint…Today I got a check for 52.01….Sorry these suits the lawyers get all the money and we don’t even end up half way whole…

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avatar Bee Jay

I will be back with further comment after research. Big Banks and Walmart are going too for. You guy’s are lending money under the table for your kind of business, Like those wall to wall loan sharks next to the superstore of liquor store, oh and don’t forget a religious establishment. STOP IT!! Can we have a few free large gardens? . Get a legitimate charity and run
it legitimately so no one has to be hungry or without mental aide and no more young children living in the streets 3 spits from the plaza in ol kc. HMMMMMMMMMMMM

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avatar Bee Jay

I am not sure but I am contacting the FTC to see what they have to say. It is not fair so many have been missed and so little paid whille the Bank of America is back to buainess as usual. We only want what is right. Is that too much to ask? They are starting to behave like Ma bell when they were broken up. They leased their equipment to others and still got paid. JUST WRONG. Some agency needs to fix this. Any suggestions. $700 worth of damage with $70 restitution. REALLY? Oh and I got my postcard also. No check

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avatar Bee Jay

I sent a comment to the Federal Trade Commission with this http: Maybe a few more would help>http://www.consumerismcommentary.com/bank-of-america-settles-overdraft-fee-lawsuit/comment-page-8/#comment-365307
” shake the tree so they will know we are down here unpaid and underpaid.
http://www.ftc.gov/complaint at this tree. http://www.consumer.ftc.gov/articles/0341-file-complaint-ftc

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avatar Brenda Jones
avatar james Polk

Not paid yet. Had a great deal of O/C for several years.

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avatar Spence yarborough

I received a check today for $33.32. I was a Bank of America customer from ages 16-21. I had accrued some serious over draft fees as I was a youngster then and didn’t know better. I would get my personal banker to credit them back to my account, regardless of the situation. Most times she did. But I ran my account up over $500 in the negatives and settled on about half of that. Just received this check for overdraft class action lawsuit today. Weird as I’m not a current client of Bank of America.

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avatar john vaughn sr

I have not seen one penny! Maybe the settlement deals with something more applicable than say these lines of unjustified overdraft fees! I thought that was what it was about. I really don’t understand how they formulate which overdraft fees were stealing or justified. I know this much they trip you up when one day a debit card shows up and 3 days later it disapears until the merchant makes a deposit and then if an overdraft occurs then you have another 7 days to get the bank there money or yet another overdraft fee hits. In my current bank I caught them stealing from me and they no it which led to a string of overdraft fees.I know when I ovderdraft and don’t mind paying the bank but they are setting us up.The Banks are not making any money so they are earning money to pay all the stock holders dividens fro the poors bank account. Rich folks always have a shit load of money and don’t worry about overdrafting I hope you Political constuients that votew for Republicans realize that they own moost of the Business concerns here in America. They own the banks. Wise up! Repulicans don’t give shit about the labor force! At least the Democrats are trying to help us. This ObamaCare issue is what it is because the Republicans underfunded the system by half a trillion dollars which would have given us Universal coverage for all! Don’t delude yourself in beleiving that the Western Counties don’t all have great health systems. We can go to War and borrow 6 trillion dollars why can’t we borrow a trillion for ourselves and get Universal coverage. I have been a Republican Party member for 60 of my 61 years and I droped out and became Independent due to the embarsement that the few ass kissing Right Wing extremist in the Repulican party have caused us all in the World.Bohner the Speaker of the house don’t know what to say he stumbles and spits because he most likely is getting funds from the wealthy and lobbyist groups and he can’t go against the few right wing extremist becuase he is a career politican. Did yall know that the Senators and House of Represenatives net worths grew by 15% in the last four years when all of us “little peoples” fell of the scope. Look at the housing market the investment bankers due to greed got us in this mess now they are hitting us up with these overdraft fees to give them a million dollar bonus. Constiuents wise up.

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avatar Linda M.

I received a post card last year and have yet to receive any compensation for the overdrafts. My neice received a 8 dollar check. is there a place I can go to see what happened.

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avatar john vaughn

Wow why didn”t your neice send it back to them and tell them they must need it worse than your neice does!

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avatar Rita Beavers

Hello why have I not yet received my check yet. My mother got her’s. My father and I are still waiting for them to come. I received the $6.00 check back in 2011 and no other money has been given since(I don’t think anyway lol). Please help me understand why? I signed up for the class action suit in 2010 got the paper and my statements. If you need anything from me or my dad. Please let me know by email or Mail 133 Tiffany Lane Lehighton PA 18235 is the address.
Thank You
Rita Beavers

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avatar latoya outerbridge

I haven’t received anything from bank of America class suit except a letter that I was in thee suit and that I would be contacted about there overdraft fees which were crazy I am trying my best find any information or contacts if any please feel free to contact me at my email address thank u.

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avatar Luke Landes ♦127,365 (Platinum)

Here is new information about the postcard checks from Bank of America: http://www.consumerismcommentary.com/no-check-bank-of-america/

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avatar Lori Knechtel

Lori Knechtel says:
October 22, 2013 at 6:45 pm
To whom this may concern,
My name is Lori Knechtel, And I have had an account with Bank Of America for approxamently 9 yrs.
I havn’t had too much problems with them till now. They have an online bill pay section on the page.
I went in on the 26 of February, 2013, and requested one payment to Investers Financial.
I Keep a pretty close eye on my account and when Bank Of America made 2 payment, This caused me to be short.
I don’t know why they did this, other than the fact that Bank Of America is fixing to change to Washington Federal bank.
I also found out that Obama is one of the share holders and I don’t think I should have to fix their mess up.
Can you help me?
Lori Knechtel

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avatar marta

I moved, was my check sent out and sent back My new address is – marta torres 1221 pickerel cir Orlando fl 32839. let me know asap.

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avatar Marilyn Hobbie

I only got the card in the mail also and never got my check…Hope to get the check soon

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avatar Debra Rioux

I never received my check or deposit either. Just received card in mail and was told to do nothing.

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avatar Lori Knechtel

Does anyone ever do anything about our complaints or just see how pissed off we can get.
Serously folks, Isn’t it about time someone could at least help us with our problems. Or do we just air our business and get it without the pleasure of vasoline?

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avatar Ned

Nope! no Vasoline, just butt naked on the beach in coarse sand. then they laugh in our faces. As they say thanks for doing business with Us.

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avatar Alicia

As Debra had stated in her above comment, she was directed “to do nothing”. It’s been 2+ years ago and I still haven’t received any money upon the settlement. Due to many issues I’ve had with BOA, I don’t expect too either. It’s a bank…. a HUGE benefactor which controls the world’s economy. And for Ned and Lori….I doubt any of our complaints are truly recognized. I believe it’s only a social network unfortunately without the use of any lube & we are buck naked here. Good luck everyone!

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avatar Maddy

Did anyone else get another check ? I got a check in the mail for 37.12 on top of my 31.63 . It came today . It says its BOA Overdraft Settlement Administrator c/o Rust consulting Po box 2425 Faribault Mn . Dated 02/14/14 .????

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avatar ned

I wish I only got $2.32 over a year ago for the over $1000 they took from me. Of coarse no explanation as to which overdraft fees they considered they were paying me back for. This whole suit is such a joke they were still changing things around and charging me fees even though it was their fault. They can’t even tell you in person why when I have a deposit slip claiming funds would be available on a certain date but they weren’t and they still let me charge things to my debit card even though the funds weren’t there on that date. I no longer have an account with them as of 2/1/14. The biggest joke here is My fathers name was on the account and it was linked to his accounts. he claims hes should have kept me from ever being charged overdraft fees yet it didn’t but they at 2 times did take extended overdrafts from his account. They have to this day nailed me for over $2500 in fees. Which none of them ever should have been charged because My father always had more than enough to caver anything I ever charged.

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avatar ned

Sorry for typo’s

his not hes

cover not caver

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avatar Alicia

Yes, I did receive a check today… for $18.70….can anyone believe this?? I have to agree with Ned. Which over draft fees/charges did B.OA. consider when they issued me this ridiculous check? Seriously? I’m in complete shock over this pathetic check amount.
I ended up owing quite a large amount of money in over draft fees and like many other comments, at the time when I accessed my account I was in the positive $ digits. Why then did the ATM authorize/dispense cash for me and continue with debit card charges? When this all occurred, I had so many fees which had compounded on top of each other, that it kept digging such a deep money abyss for me. I had to work quite a lot of over time shifts to cover all these fees/costs, which could’ve really been avoided if a simple telephone call or email was communicated from B.O.A.
I truly feel this was quite the scam to collect all these fees from people so this bank could profit itself. How did B.O.A interpret this law suit with paying people back? Did they just calculate an anonymous amount and send out some frivolous payment to amuse the court system??!!
Well U.S. citizens, lesson learned! Don’t bank with Bank of America!!

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avatar Cristina Coleman

Well I will tell you many of you got a better check than I did. I refused to cash mine it was $1.03 and they sure as hell took a lot more than that from me(including my entire paycheck for fees they had added up) over $400 and still had to pay them more to close the acct. or it would have kept increasing the fees daily. This is the biggest scam I have ever seen.

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avatar Lori Knechtel

I still have not received any money from a settlement.
Lori Knechtel

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avatar Susie

I just got a chech yesterday with the amount of $35.97

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avatar PeacedOFFAMERICANS

They have both parents in a household working to the bone, we are too busy to pay attention to massive amounts of fraud being levied on us daily.
They took hundreds of dollars from my family. The Overdraft Litigation scam sent me a check for under 20 bucks. I hope a few more banksters commit suicide this week.

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avatar mich trusted BOA and lost out

BOA took full advantage. My husband died and had credit crd balances which were insured. Even with large amounts of money as a “preferred customer” they charged me a year later for a credit card that should have been paid off by insurance. Their account manager assigned to me never did the forms to collect. Then they did not close out all my husbands accounts (my name was NEVER on them) and when all these charges came up on the ACCTS they charged me (they added my name to those accounts). Even going thru the death of my husband I could not sort all this out and they took full advantage with all their charges. Also, my granddaughter was murdered and I could not even think straight. they knew all this…I got -0- from their cheap lawsuit.
ROBBERY IS ILLEGAL from someone who has NO DEFENSE. IT IS NOT HUMAN THEY ARE WORSE THAN LIONS GOING FOR THE THROAT.
They knew how WHEN TO rob me AND THEY DID!
THEY ARE THIEVES OF THE WORSE KIND

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