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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 .

{ 1404 comments… read them below or add one }

avatar Marty_L1

So Let me get this straight… The lawyers handling the case got $123,000,000.00 and each B of A customer gets $21.74 for having been f****d over by a criminally fraudulent and negligent company to which many have lost thousands? B of A has stolen over $700 from me over a 3 year period but its okay now cause the judge says they have to pay me back $21.74. What a load of bull s**t!
If the info on the Bank of America Overdraft Settlement website had been a bit clearer as to the reparations and their objectives, I know many, myself included, would have opted out of this litigation and pursued other means of retribution.And what really gets my nerves boiling is that the lawyers are getting 123 million of the 410 million settlement.
I’m not suggesting that they haven’t done a fine job of handling this cases’ points of merit, but do they really think that getting not even 22 bucks for customers is good when they will be taking home 123 million? For them to accept a lousy 410 million dollars for 13.2 million customers was a huge lapse in judgement. They should have gone for the throat and asked for at least 20 times that much.
I guess the lawyers will be sleeping better tonight knowing that their 13 thousand square foot summer house in the Hamptons, just got the mortgage paid off, and they wont have to chase ambulances to the emergency room any more. B of A customers on the other hand, will have to take a 21 dollar slap to the face. Oh well. At least we can put almost 6 gallons of gas in our vehicles so we can make it to work tomorrow.

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avatar Lisa

i said the exact same thing. My perspective on the situation was they were going to look up the overdraft fees accrued by each customer and refund it to them, not just give everyone $20 and send them on their way. I would have been better off suing them myself. We are the victims, not the lawyers. What kind of lawyers are representing us that would think their clients would be okay with this measly settlement?

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avatar Marty_L1

The lawyers who represented us have their contact info listed on the B of A overdraft settlement web site. This is the web page which contains their information. http://www.bofaoverdraftsettlement.com/ContactInformation.aspx

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avatar sandy11

check out the update(bofaoverdraftsettlement.com)nov.9th.just a waiting game

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avatar Nanny2Lexi

I couldnt agree with you more! I think maybe we should find an attorney to represent those of us who were screwed over and take that money that was due us, the customers from the attorneys.

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avatar gladys

get signatures like the babysitter,she get 3000000 signatures and stop boa for charging 5$ for debit card transations,also we can threat them to close ours accounts .

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avatar Edward

nice thought but this is just another way the lawyers have screwed us the case is now closed to all of us whom didn’t opt out. I would have but I was living out of town when the notice came. and I just got back in late Oct. and saw thew postcard from the lawyers and it was too late to opt out

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avatar Marty_L1

Here’s another tidbit of info. many readers and plaintiffs were under the impression that they were going to receive between 2500 to 5000 dollars depending on if you were a married couple or single individual. Those amounts were to be issued as bonuses to the original 32 plaintiffs of this class action suit, not the remaining 13,199,967 million customers involved in the suit. Only 46 class action plaintiffs objected to the judge about the details of the settlement and only 350 plaintiffs opted out of the suit all together.
I wish I had been the 351st person to opt out.

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avatar Kathy

I really wish I would have opted out.

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avatar Kia

Me too, I was too busy and forgot.

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avatar Tahira

Me too Marty_L1.

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avatar Michael

Even though I was one of the BOA account holders in the class action suit, I feel I don’t deserve any settlement. I racked up fees knowing they would come; so I have no basis for asking for money here. Trying to borrow money in a deposit account was not going to end well.

Highest to lowest, NSF fee, whatever. Consumers calling this settlement outrageous need to look in the mirror and realize the fees, while high, were agreed to. If you don’t like the rules, don’t play the game.

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avatar Kia

I’m glad someone else sees this, the fees are listed in the terms and conditions.

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avatar Rico

It’s not the fee’s that were misunderstood it was the accountants that manipulated the transaction dates and time that is the problem. It happened to me many time I use my card 5 time in one day getting cigarettes, gas, drinks and food ect. Then I pay my cell phone bill now if they had put the transaction in the order I used my card I would have only been overdrafted about 12 bucks now what boa would do is cash in the cell phone payment then the next biggest which now over drafted me 3 time because of the purposely maniplitive ways they handle my transaction.

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avatar Mike S.

Michael & others: I do understand your comments with regard to “looking in the mirror.” But if I look in the mirror and see a person who has made an honest mistake by only a couple of dollars — literally — because of a struggle to make ends meet, is this an open book for corporate giants like BofA to kick the struggling when they are down? It would be incredible for even the most trusting person to believe that BofA’s sole goal of processing the transactions the way they did was to “help their customer by paying the highest transaction first.” If they indeed were so concerned with the customer AND they were paying the transactions anyway, then why not post the transactions low to high? Even in doing so, they were going to make the easiest $35 they could ever hope for! Most states have laws against or at least heavily regulate the “pay day loan” institutions — this just seems to be BofA’s way of getting around such laws or regulations. And at the cost to who? The answer: the people who can least afford it! I admit I have stayed with BofA for over 20 years, and I am happy to say that for most of those 20 years, I maintained a very balanced check book with them. But for about three of those years during the timeframe in question, I had several times where my very honest miscalculation put me over by less than $5.00. However, in processing the way they did, that $5.00 over would cost me $175.00!! And guess what!? Three or four days after that, I may have had three or four more pre-authorized drafts come out that there would have been no way to stop in time. And the snowball effect continued! There was more than one month during those lean three or four years where I lost many hundreds of dollars this way due to fees.

Bottom line? I DID know the rules! But as I try to teach my nine and ten year old children when they are playing games with their friends (customers?), just because you are bigger than they are, doesn’t mean you can be a bully!!

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avatar jonathan mcneer

hi i used to have B OF A and switched banks and i was wonder how i was going to find out if i was going to get paind the 22 dollars?

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avatar ashamed

Hey Marty L1, Want to sign the new petition, go to change.org link below and sign
http://www.change.org/petitions/bank-of-america-overdraft-lawsuit-lawyers-for-the-plaintiffs-the-2174-expose-who-they-are-and-sue-them-for-deception-and-malpractice?share_id=AyTjuHInmL&pe=pce

copy and paste this link to your friends please. thanks, falcon glyfman

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avatar Lisa

The fact that we are only getting about $20 back is mind boggling. I am a full time college student, and they have been ripping me off since 2008. They knew exactly what they were doing when they were posting these transactions from highest to lowest. Yet as they are being sued in a lawsuit, they CONTINUE

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avatar Lisa

The fact that we are only getting about $20 back is mind boggling. I am a full time college student, and they have been ripping me off since 2008. I deserve every bit of my money back. They knew exactly what they were doing when they were posting these transactions from highest to lowest. Yet as they are being sued in a lawsuit, they CONTINUE to post transactions this way. I don’t see why we can’t get all of our overdrafts refunded back to us. Regardless of how much I am getting back, I WILL be closing my account. And I hope they are refunding this money back quick, fast, and in a hurry.

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avatar Kathy

I was a full time college student when I had BOA. I no longer bank with them. I wish the lawyers had been upfront. I feel like they’ve just used us all to make money.

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avatar sandy11

where did you read this, it’s 9% of what you lost or 45 cents on a dollar.let’s just wait and see.

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avatar Marty_L1

Here’s a link to a washington Post article on the matter which details most of what you’d like to know about the 9% There are other articles that detail the 9 to 45 cents on the dollar figure. Just do a google search for Bank of America overdraft and scroll through the results to find your desired news clipping.
link

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avatar Luke Landes ♦127,480 (Platinum)

That’s not an official number, just an estimation — by a lawyer who objected to the settlement.

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avatar clmccl

Let’s face it, it’s always the little guy who gets the screwing. Like Our politicians, If they would be willing to give up thousands of dollars of their pay we could balance the budget. But it’s us little guys who are always having to give up something! Stop giving our money to foreign countries, help our homeless, helpless. Our businesses and Politicians care more bout their WALLET,not about the AMERICAN PEOPLE who fight for this country and die. Who can live on what disability gives,it’s enough to make you want to live in this country. My great grandfather was in a Civil War Prison for this country and what he believed………………. OUR POLITICIANS AND FINANCIAL OFFICERS DON’T CARE 2 RATS BUTTS about the american citizen today! That’s right I might get 4 gallons of gas with the settlement. YEAH!

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avatar ashamed

Yeah, I got screwed by the lawyers again. My losses were around $1200 and they mailed me a letter saying hey, we are getting $410 million for you guys, not sure what you’ll get but YOU MUST OPT OUT NOW IF YOU INTEND TO PURSUE IT ON YOUR OWN (THAT WAS OCT 8, 2011), THEN TODAY 1 MONTH LATER……! I find out I’m getting $21. These sorry bastards new how much they expected we would be getting. Here is a remedy. If you own a business always have your clients and vendors sign an intent to use out of court arbitration instead of the legal system. Next, lick your wounds, drive to Goodwill and say hello to your shopping future. When B of A screwed me, I lost my apartment and moved into my van. I have celiacs disease and was nearly dead but since I have gained about fifty pounds, and since I have learned to 1. depend on public sinks for a daily bath, 2. never use a bank again, 3. bought a walmart debit card which is free to use, 4. park my van every night at walmart (the only place you can without going to jail (thank you sam)). 5. save very penny I can including aluminum cans and eating every free sample I can at whole foods and when I reach the $10,000 goal, I’ll sell my van and leave Mr. Boehners world and move to some third world place that can appreciate my masters in chemistry.

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avatar Juana

I agree… I’m with The Master Mind who came up with this suggestion.. (Change.org)
This so called reward was down right disrespectful! In every since of the word.So in the meanwhile I’m taking my complaint to the Highest Level Of Authority…. “The Almighty God”!!!
It’s clear that man will fail you… but God is in the restoration Buisness!

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avatar ashamed

What you gotta get a grip on is that these lawyers came to the aid of Bank of America in order to make it appear that the bank of America was being held accountable. A classic Wag the dog. I say we do not cash our checks and see if we can get these lawyers on mal-practice. DON”T CASH YOUR CHECK!!!! Go to change.org and start a similar petition like Molly Katchpole did on Change.org. call it the “21.74″ only this time we’re gonna find out who these lawyers are.

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avatar Marty_L1
avatar Cyn

I’m with you!!

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avatar lindsay

screw all your complaning, bank of america took over 5,000 in overdraft fees because i was a lazy dumb 25 year old that didnt care about overdrafting my account because i lived paycheck to paycheck and im only getting 20 bucks. oh well

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avatar Marty_L1

Not everybody was a dumb 25 year old who didnt care about overdrafting their account.

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avatar clmccl

We all are much wiser now. Next time we all know to OPT OUT.

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avatar Anon

You couldn’t opt out prior to August of 2010. New legislation is what allows us, as a consumer, to actually have a choice in this process. Here is an article: http://www.federalreserve.gov/consumerinfo/wyntk_overdraft.htm

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avatar Phil Stepchuck

Good for you Warren Buffet you P.O.S. bought into a bank of thieves just like yourself. Now you can’t die like Smoken Joe Frasier like a man. You die a cowards death want to borrow a fork your cooked.
adios amigo

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avatar ,Marie

If i am not getting at least $ 1000, i have no need for $ 20, please don’t put your $20 in my account.

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avatar Marty_L1

If you got a post card and didn’t opt out, then you will be getting either a credit in your account or a check in the mail. Spend it wisely cause you don’t really have much of a choice anymore.

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avatar ashamed

Marty, check out the new petition at change.org under boa overdraft, thanx ashamed

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avatar Shaddup

http://www.washingtonpost.com/national/judge-mulling-over-410-million-settlement-in-bank-of-america-overdraft-lawsuit/2011/11/07/gIQACKjZuM_story.html

There you have it written in stone: “the average customer in the case had $300 in overdraft fees, making them eligible for a $27 award”

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avatar ashamed

shaddup, please go to change.org see the new boa petition overdraft by falcon glyfman.

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avatar Raul

Power to the people. You will all be geting some money soon.

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avatar Raul

I have all my copies of all my over draft cards that they use to send the customers.

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avatar Ken Arnold

Lawyers $132,000,000+ million, Customers $27.00… what a great legal system we have

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avatar ashamed

Ken it ain’t over yet, please go sign the new petition at change.org. boa overdraft, thanks, ashamed

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avatar joe

I have a great idea.. we should all take our settlement money.. withdrawal and close our accounts..go to the back of my yard, buy some beer and whiskey whie we watch BOA sink like the titanic. I think 13.2 million account closures would be the end of that bank.

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avatar Susan

@ Joe; THAT is the best idea yet! ;)

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avatar Ro

That was the whole point of the “Move your money” day Nov. 5. Not enough people did it. There is definitely strength in numbers.

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avatar Kathy

I moved my money years ago.

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avatar ashamed

Ro, please go read the new petition at change.org bank of america overdraft. thanx falcon (ashamed)

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avatar Shannon

They won the lotto and we just won a measly scratch off card….go figure

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avatar ashamed

shannon please go to change.org and sign the new petition for bank of america overdraft. thanz, falcon

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avatar Marty_L1

Your backyard would hold 13.2 million customers? Man, with that kind of acreage, sounds like you don’t need the 21.74 your gonna get from the settlement. Just sayin

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avatar ashamed

marty, there is a new petition at change.org bank of america overdraft. please sign and spread the word.

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avatar ashamed

please sign the new petiton joe, its at change.org under BOA overdraft.

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avatar joe blow

we got took for the big ride seems like.up the butt wit no lube.

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avatar ashamed

Jo, go to change.org and sign the new petition under falcon glyfman, thanx, spread the word, falcon

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avatar Cathy

Okay so we get $21 dollars which does not even cover 1 overdraft fee and i also was screwed by the bank on a few occasions…so those who dont want to cash the checks sign them over to me

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avatar Flrgrl01

I have to agree with you Cathy. if everyone decides not to cash their checks(those of which won’t be automatically deposited into existing BoA accounts)..then who ends up with all the money? We’re talking about 27.00 x how many thousands of accountholders and former accountholders? Then the lawyers, BoA and whoever else, ends up winning yet again. Or it may end up going to some non-profit organization with which i have no problem,but how can we be sure? we can’t. Yes, I had an overdraft twice in the six years I had an active account. Yes, I was pissed and couldn’t believe this could possibly be legal, but obvioulsy it has continued, by all the comments on this page, so,when I recvd the Settlement Card did I really think I was going to get much? Hell no…this is Bank of America. So I’m with you cathy, I say cash it and take that and your existing accounts to a credit union. There may not be the convenience of an ATM on every corner like BoA. But who cares? I guess most important, try not to overdraft(most Credit Unions charge on 10-25 dollars)…i know ther are times when it is almost unavoidable through accounting mistakes, or overspending, but that is ones best bet.

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avatar kyvette parker

when are we going to see any money?

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avatar yassir

lets start a petition

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avatar Monica Franklin

Where do I sign?????????????????

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avatar ashamed

monica, got to change.org and sign the new petition under falcon glyfman, spread the word

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avatar Ro

Yes let’s do it. We need someone to handle the wording. Perhaps we should get in touch with one another to get it started.

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avatar ashamed

yassir, go to change .org under falcon gpyfman is the new petition, also don’t cash your check!

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avatar ashamed

yassir, there is a new petition on change, under falcon glyfman. please sign and spread the word. word falcon

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avatar sandy11

from what i understand,a certain % of each overdraft you were charged.the comment of $78.00 was from another suit.

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avatar ashamed

hey sandy 11, you can go to change.org under falcon glyfman, bank of america overdraft, for the new petition, many people didnot get the message to opt out since they moved and are therefore still eligible to opt out. thanks falcon, spread the word

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avatar Ro

I was going to suggest going to change.org when I found your comment. This lawsuit was not explained well and they knew very well that most would get screwed because of this…it’s not much different from the way the banksters, et al swindled so many with those shitty financial deals, CDS’s; derivatives, etc. That is part of the game; I for one will not take this lying down. I think that Ashamed’s idea is great and we should go ahead and do it!

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avatar ashamed

hey ro, you need to go to change.org under falcon glyfman for the new petition, many people didnot get the announcement to opt out because they moved and are therefore still eligible to opt out. thanks falcon, spread the word

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avatar ashamed

hey ro, you can go to change.org under falcon glyfman for the new petition, many people didnot get the message to opt out since they moved and are therefore still eligible to opt out. thanks falcon, spread the word

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avatar Matt

From the story linked above.

“Customers will receive a minimum of 9 percent of the fees they paid through the settlement, Hutt added. The bank has already paid the money into an escrow account.”

Yes, if you had $300 in overdraft charges, you would only get $27. Many of us had much more than that in od charges. My only question is when will I see the money.

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avatar Bent over in A.ss (BOA)

I agree with majority of the comments. They didn’t supply how many people who was getting money on the supply or the percentages so we could do the math for ourselves. Of course the Lawyers are walking out happy and having a drink with CEO’s of BOA right now. 27$ doesn’t cover one bank fee and they took over $1K from me. I was with for years until I notice this scam they started to do. BOA is fraud of a bank!

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avatar Connie Joyner Boyette

I agree, BOA ROBBED ME!!!!!!!

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avatar Bent over in A.ss (BOA)

“bank actually raked in $4.5 billion through the overdraft fees and was repaying less than 10 percent” This makes me sick

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avatar madashell

This 21.00 or 22.00 dollers dosnt cover 1 overdraft fee. Each overdraft fe for me was $35.00 . I know I’d get screwed.

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avatar Raul

Every one just relax you all will be geting money soon. its $390 dollars for every 35 dollar you where overdraft ok.

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avatar Kathy

Raul: Where do you get that amount from? Every article I’ve read has said something different.

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avatar Monica Franklin

?? I don’t think you are reading the same information that we all have been reading..not nice to get people stirred up for nothing like this worthless lawsuit did……………………..be nice….

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avatar Kathy

Very true. The one thing I don’t understand is the judge said that it was a superb result for the customers. I would be happy if I am wrong about the amount.

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avatar Marty_L1

@ Raul
How did you come up with that # ? I’ve heard 9% of all fees charged. I’ve heard $21.74. I’ve heard anywhere from 9 to 45 cents on the dollar will be our share. So Really how did you come up with that figure?

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avatar sandy11

where did you get this from.IT’S 9%of what they took.$27.00 for every $300..00 ,that’s what I read.

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avatar sandy11

you got this ass backwards.35 for 390

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avatar char

U.S. District Judge James Lawrence King approved the settlement, which will give account holders as much as 45 cents on the dollar on their claims, said Miami attorney Aaron Podhurst of Podhurst Orseck, co-lead counsel for the plaintiffs.

Read more: link

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avatar Ken Arnold

##################################################

There is no petition under that name or BoA with this…..
Post a link to it

###################################################

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avatar okiegirl

We really do not know how much each person will get back. It really is all based on how much a person paid in. The 9% is for those that payed money in for helping with the lawsuit. They will get that back in return. Not the customers. Go back and read it. Also today on Good Morning America it announce that each person would get back half of what we got charged. I am getting frustrated with people trying to figure out how much. It leads no where. I am impatient too and want to know…but all the speculation is tiring. Lets just see what happens. Its says in the settlement they have 30 days to get it in a form of a check if your no longer with BOA or they will put it automatically in your account if your still with them.

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avatar sharon

t
There is no way they could pay back half of what each person got charged. They cheated more people than they have money. by the way, the still are cheating people with account fees at twenty five dollars a hit. and by the way. Do not try and cancel a direct debt over the phone. The one costs you over thirty dollars. I tried it when my Mom passed on and I took her comcast box back to the store. Canceled the over ten year service I had with them with no problem but for some reason BOA has a problem with needing money they do not deserve.

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avatar sandy11

IF THIS IS TRUE,WHERE’S THE MONEY.WANT TO CLOSE THIS ACCOUNT,AS SOON AS IT IN THERE.

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avatar anc

its not a simple question of balancing your checkbook. if you have 5 transactions and the last one goes over even 1.00, by stacking from largest to smallest you ensure the next 3 or 4 trigger a 35.00 fee, thereby causing your 1.00 oops to become a 140.00 profit for b of a . worse is when they allow a transaction to be approved even though it allows the account to go over avaiable funds. that will purposely start that domino effect. why are they approving debit card transactions if the money isnt there?

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avatar Michael Barrientos

The attorney’s fees and services aren’t worth the 123 million these attorney’s got from this suit. Especially if the customers walk away with what were getting. They didn’t have to charge 30% of 410 million. Even at 10% these attorneys would have been well off for their services. This is unethical! A line must be drawn! This goes way beyond what is a fair and reasonable price for services rendered. These attorneys can argue that its the going rate for a class action suit, but its still a ripoff.
Anyone can file a complaint on an attorney who’s practice of law appears to be unethical. Just locate the State Bar where they reside to file a complaint. 12.5 million complaints should get someone’s attention.

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avatar yassir

i think there is 3 law firms involved in this lawsuit ,miami,atlanta,i am not sure whats last one

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avatar Marty_L1

New York. go to this page to see the firms/ lawyers involved.
http://www.bofaoverdraftsettlement.com/ContactInformation.aspx

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avatar Anon

BoA(and most banks) will ALWAYS find a way. NSF practices, While I was just glad to hear they would change their practices about posting debits, I had a difference experience. i do not have overdraft protection, but I did opt-in on the overdraft setting, which means they will clear up to 300.00 on my account if i run short. it doesn’t happen , but just in case. Well, that case redently came up. Hwne i checked my account online, i noticed i had gone over by 200.00. I knew they would clear the check, but since it was my rent check I wanted to make sure. I called customer service spole to a representative and she told me I would be charged a $35.00 fee, but the check would process as PAID. I also noticed in the “STATUS” section of the debit it had a “C” as in cleared. i told the the rep that i happened to have 500.00 in cash on me,, but I had a staff meeting and would have to rush to an ATM to make the deposit before 2:00 She said “not to worry. the check will definielty clear”. Since overdrafts rarely happen on my account (maybe twice in 8 years). I was willing to take the 35.00 hit and make the deposit after 4:00. so as not to have to drive like a maniac to an ATM. What a mistake..the check bounced (even though the status 24 hours before had posted as “C”) and not only did I get hit with a fee, but I could have made the deposit and avoided the embarrassment of the returned check to my landlord. While I take FULL resposiblity for the accounting error, why would this rep tell me the check would clear, knowing that I could have brought my account back into the black and why would the STATUS show “C”? Like a consumer reporter said, ” BEWARE–Bank of America will always find a way to get their money”

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avatar Tamara

Chase Bank here I come!

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avatar sharon

Do not do Chase ….they are just as big a theif as BOA.

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avatar Marty_L1

Try PNC bank instead. They got it together with customer service and they haven’t ever charged me 1 OD fee in two years.

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avatar Connie Joyner Boyette

I never recieved a letter from BOA, about the overdraft suit!!!!!My life was devasted by the overdraft charges I recieved over the yrs, 2003 thru 2008. I knew what they were doing was wrong. But every phone call and visit I made. It was the same, ( this is the policies). I was a unheard voice back then. I missed a date I knew nothing about. Once again, BANK OF AMERICA owns me nothing. I had to stop banking and lost my home. Homeless and broke with poor credit.This is what happens to the DISABLE!!!!!! No means of catching up, as long as BANKS are able to control the funds!!!!!! DISABLE NOT STUPID!!!

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avatar sharon

Does any one know if a widow will get any part of a settlement.

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avatar Walter Lesure

I feel like a person who got totally abused by the Judge, the lawyers and most assuredly by B o A. It is painfully obvious that all three parties are complicit in this hoax of a settlement. Think about it, 4 or 5 billion dollars looted from our accounts, 410 million dollars to “settle the case, and 123 million dollars in compensation for the lawyers to bring the suit on the behalf of the people injured by B o A usury practices. Like Connie Joyner Boyette I have never overcome the ravages of the “overdraft fees.” They contributed the economic challenges that I continue to experience today. Shame on the Judge! Shame on Bank of America! Shame on the shysters masquerading as lawyers for the injured parties of B o A! Shame, shame, shame.

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avatar lucia

Wow, this is unbelievable I paid over$300.00 in over draft fees. This is messed up that the true victimes here are only intitled to 20$’s this doesn’t even cover one over draft feef America charges $35.00 plus thier extened fees on top of everything. I feel this is wrong for us victimes. Man situations like this makes me want to become a lawyer, but I don’t know if I would be
able to sleep at night knowing the unjustice. Well, at least I can buy me a decent cofee at the coffee shop and maybe even a dounut. I guess know I’ve learned my lesson next lawsuit I hear about I will make sure to opt myself OUT!

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avatar James H.

I just recently left B of A and just saw the report on the news about this action. I remember calling customer service and asking them about this very thing and told the rep it seemed like a scam for them to get more money from me in fees. He tried to reassure me that was not there intention!
In the end when my direct deposit went into my account I would withdraw it all out and pay by cash and have a little coffee can with my savings in it! Very sad to have to go to this extreme!
The bank I moved to seems to be better but I have lost all trust in the banking system with them all resembling used car salesmen just trying to Screw you the best they can. I still have my coffee can and every morning the first thing I do is log into my account to make sure the money I have in there is still there! America is becoming a sad, sad place!

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avatar Marty_L1

I’m at PNC bank and have the “Virtual Wallet” checking account. Been there for a couple years now ever since I left B of A and have had not one OD fee charged. I would have to recommend them to all who still are customers of B of A.

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avatar sandy11

anyone hear when,want to end with BoA.NO MONEY YET.

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avatar shannon

If you look online at your account, go to account balance history, that will let you know if fees are going to be applied, it doesnt matter if stuff is pending and havent cleared if you are negaitve for the night they are going to charge you even if the pending stuff was in error or not, be careful they will screw you royally still to this day on fees…especially on stuff that is pending, doesnt matter if its in cleared status anymore with them….who cares bout the lawsuit they are still pulling in a lot of money only thing changed is they can only do 4 overdraft fees a day now instead of 10

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avatar joe blow

fishy,fishy,fishy
we are the cats and we took the bait
wishy,wishy,wishy
going after an empty plate

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avatar joe blow

even if the lawyers would took nothing we would have still been getting 31.oo per person. thats still not one overdraft fee who were they kidding.they dont deserve nothing at all. they favored the banks all the way.NOW THATS WHAT U CALL A LEGAL SCAM. RIGHT IN OUR FACES. WHO REALLY CARES ABOUT THE PEOPLE.

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avatar lucia

I’m still waiting for my $20.00:-* does anyone know when they are going to pay us?

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avatar Jordanne

Its gonna keep dragging out… they have to make sure nobody appeals (which hopefully somone does.) And then once everything is set it will take another month from there. I would like to also add that some of the money is going to a non-profit charity program due to the fact that they were unable to get some information for 3 of the years eligible for the suit. Also the attorneys we recieved the notice from was not working for us but boa. No attorney in their right mind is gonna settle if they know they can recieve more….just my opinion

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avatar gary

Where is my refund???

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avatar Marty_L1

Collecting interest in a Bank of America escrow account.

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avatar Amanda Braun

It all comes out in the wash, does’nt it?! I remember when that first happened to me; I thought it was a law suit waiting to happen. Thank God it finally has finally been proved that what B or A has done is

w r o n g ! Now after the sharks/lawyers get their share (who really has suffered here) maybe the rest of us will see more than $1 added to our accounts! Maybe that is the next class action to be filed: Excessive fees that lawyers charge, along with excessive medical expenses!

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avatar gary

when to we get paid?

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avatar cassandra

How do these attornies sleep at night they sent all of the B of A customers post cards telling them that the settlement would get them 2,500 to 5,000 depending on how many accounts that you had with B of A . Now with the judges help they have managed to screw the customer twice with a settlement of 27.00 really, next time I would like the attornies to at least take the customer out for dinner and a movie, I really don’t like it to rough, I mean they just used sand to make it hurt even worse. I love the way they justified getting 135 million stating they spent hours going through accounts really you know all of that information was in a computer program, hit a button print a report really who are they kidding so now that I have paid B of A way more then 27.00 in fees I get the pleasure of paying for the attorney firms Christmas party!!

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avatar Luke Landes ♦127,480 (Platinum)

How do the attorneys sleep at night? Probably in very comfortable, expensive beds. :-)

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avatar Marty_L1

@ Flexo
LMAO! Sad, but true

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avatar Gail Bradshawg

The judges got some of that money. I think they need to be investigated. i feel raped by boa, attorneys and judges.

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avatar Just a thought

Has anyone thought about filing an appeal stating that the settlement is unfair that, when contacted, the lawyers for the class stated that the settlement would be fair for everyone involved. But now we are finding out that isnt so. Most of us will only receive a very very small portion of what they took. I personally called the lawyers BEFORE THE OPT OUT DATE CUT OFF and asked them about opting out and they stated to me that there was no need to do so since they were POSITIVE that everyone in the class would get about 25 to 30 percent of what was taken. I’ve already called my local lawyer regarding them mis representing and flat out lying to me…. has anyone else had this happen to them?

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avatar pos_bank

BoA, youre not getting away with this. Paying $20 dollars?! I can’t wait to screw BoA next time I can. Speaker Magnets should work great on their ATMs people. Maybe send some yogurt up their little air tubes. Even if youve closed your account, call their call center anyways and tie up the lines. I love how they just “notify” us of these policy changes too. I didnt get to sign anything saying I “agreed” with any policy changes. Didnt see or sign the minimum balance fee, or the changes to my credit card fees, etc. Isnt there another lawsuit ready to go? Keep the lawsuits coming and one thing is for sure, you wont deceive us twice BoA. I hate BoA. I really hope they go dwn. Whats it feel like to be hated BoA? I hope no one from that bank crosses my path. That scene from the Grizzwold Family Christmas, with the CEO of BoA in his bosses place would be great. Man im pissed. If anyone even thinks about typing something about how we desserved it : go f$ck yourself and give me your $20. We got ripped off!!!!!

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avatar pos_bank

New Lawsuit!! Hell yes! Lets make it big too. Shut those bastards down!!

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avatar Rudy

What kind of settlement is this? I lost more then $1000 within the ten year period, and now I am not getting not even one overdraft fee?…What kind of lawyers are these?, their taking millions home and we, the ones who were screwed are getting screw again, but not by the bank, but by the lawyers. I am not getting $20 dollars because that’s not nearly the amount I’ve lost, I am gonna try to get as much signatures to take this court my self and get what people really deserves!!!! This is the biggest rip off I have ever seen…For any comments, please write to rudystyle7@aol.com

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avatar Rozanne

I was thinking the thing. I only lost about $100, but regardless of the amount the settlement is for $410 million dollars. There were 13.5 million people affected. Do the math, who the hell is getting all the money??? The lawyers are apparently getting $127 million, where is the rest of it going? This is bs if you ask me. I have not had any fees taken from my account in 2 years and now all of a sudden B of A is charging me for everything. I am not happy with the result of this.

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avatar al

count me in any way you need to. we lost over 1,000 in this mess………………………..

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avatar Minister James

I agree with you and i will sign if you need me to. I have lost alot of money as well.

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avatar Edward Yost

They have nailed me for well over $200 in one incidence, Thanks to them changing the dates of transactions. Yes they are still doing it today. There has been no change. I will e-mail you also Rudy. ASAP
If you don’t figure the lawyers in the settlement it would be $31 for every person of the 13 million. Sop I guess if everyone was in my boat the settlement would need to be $3,185,000,000 and they claimed they needed money from the Obama administration. Then gave a bunch of people millions in bonuses for a supposed failing bank LOL. If my business was failing I’d fire everyone involved in the obvious scam they are pulling. BOA is the most untrusted bank in the USA. They have lost so many customers in the past few years. I like them otherwise, but the time I was overdrafted was because they printed right on my deposit slip thaty my funds would be available on a certain day and they weren’t. So my rent check that I wrote bounced along with 6 other transactions. when I confronted them at the bank they threatened to call the police. Did I mention this was in 10/08 a month after I was laid off. at the same time everyone was getting laid off.

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avatar Rozanne

I also want to see that money go to the people, and I will sign something also. I’m so tired of seeing us “little” people getting screwed.

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avatar Alicia

I agree with you!! same thing with me paid over $800.00 in fees

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avatar Alicia

My email is torres72@att.net I will sign as well

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avatar Cherl

I agree with all the comments I have read,It comes down to Lawyers,this lawsuit was for them not the customers,what was the point,The judge should have just not even ruled in customers favor,should of just told lawyers here is your money…Doesn’t anybody work for the little people anymore,like they need that much money,makes you wonder if they were working for the bank!!!

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avatar Cynthia

Yes, I would like to know as well, who is getting all the money? If the plan was to take majority of the settlement funds off the top and pay attorney fees, court fees,and give to nonprofit organizations, and only God knows who these nonprofit organizations really are? Why even inform us of the Class Action Settlement? Because you had too by law. But, it seems as though the initial plan from the door was too hoard up all the funds by individuals whom were not directly affected by the actions of Bank of America. There is a place for people who survives off of “greed” and it’s not jail!! Count me in Rudy!! It is time we stop “Big Business America” from taking advantage of the Amercan Citizens who really keep this country a float.

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avatar Kate

Count me in, what these people have done to us is a crime and it keeps getting worse.

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avatar Terry

Count me in to sigh I have lost out on alot here as well.

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avatar sandy11

was wondering who is getting the interest on the escrow account.

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avatar sandy11

NOW WE WAIT FOR ANOTHER DATE.SO THEY CAN DOT THE I’S AND X THE T’S OH AND WIPE THERE BUTTS WITH WHAT WE GET.

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avatar vincent

people should take responsibility of thier finances instead of spending money they don’t have to begin with

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avatar zayne

vincent it is important to not prove the ignorance that your peers may speculate. especially when just like everyone else in america (myself included) you yourself have serious issues with fingerpointing and accountability. i say that to say this. People did manage their own finances, but the bank stepped in and devised a system that would make the opprotunity for a fee to incur A LOT MORE PROBABLE!!!! hence the name of the technique, probability. now allow me to retort; if i may. what “people need to do” as you so eloquently stated: is not pay better attention to their money. too much attention is in that area already and as we all know “LOVE of money is the root of all evil.” what people NEED to do is stop telling other people what THEY NEED TO DO!!!! because last i checked you live in a land that prides its self on many things, most of them being selfish and materialistic, but that is just my opinion. one of those many things is individualism. meaning what you eat will not make me have a bathroom break. so please for the sake of everyone who would like to see a positive change, for the children, for the women, hell even for the money(why not) try keeping your negativity, fingerpointing, intolerant opinions to yourself, before you prove to the world what they already think of us as a country. thank you for your time.

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avatar Minister James

Amen!!!!!!!!!!!!!!!!!! I love how you think!!!!!!!!!!!!

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avatar Edward Yost
avatar EJ

How can people ‘manage their money’ when BOA is practicing underhanded methodology in finance theory? They hold checks to conveniently trip your account up and then procede to screw you over any way they know and deem how (debit the LARGEST item first and take debits out immediately and post deposits later-much later). For you to say people deserve what they get for not managing better is not warranted. The issue at hand is NOT mismanagement of personal accounts, it is about Federal Regulations being bent and broken over consumers heads. Smarten up and know that if and when you end up broke and in the gutter; Bank of America will not lend you a hand, your fellow American will.

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avatar Jeanette
avatar Edward Yost

They told me when the funds would be available and I have the deposit slip and my bank statement to prove it. You know it all butt-head, If you don’t have a problem what are you doing in here. Mind your own business or I’ll have B of A take your funds for being a buttinski

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avatar Tammy

ok so we all need to manage our money. I see what you are saying. However, that may not be the case for everyone. See one day I walked into boa in my town opened 3 checking accouts. 1 for myself, 1 for my husband who was going over seas, and 1 for paying bills. At that time I opened 3 childers savings accounts. Within the first 2 months I got at the least 4 bounced checks out of my bills account. However, I had over 1500$ in that account and only spent a little over 800$. Now please explain how that was my fault? By the time I closed all 6 accounts I ended up owing boa like 1000$ and I got letters for all 3 of my kids accounts saying they also owed boa over 30$ each. Them bastards stole the 100$ or so dollars from each of my kids and then sent them an over draft bill. So make sure you have your facts strait before you blast your half witted comments on the internet

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avatar downtown

you are lying

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avatar sandy11

what the hell do you know,are you in it.if not stay out of it.we had to cash our checks,and put in cash.no direct deposit where my husband works.checks didn’t clear for 5 days.cost $3.00 at walmart.really crazy sometime it’s in there and sometimes it’s not.

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avatar Cynthia

I have come to one or two conclusions about Mr. Vincent, either he has no banking account (money) or he is working for these rip off attorneys…LOL!!

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avatar Connie

This is the type of world we live in. There seems to be no justice for business that rise at the demize of others. It is not a matter of spending money you do not have, but remember it was more that Bank of America way of doing business. The way they conducted their transactions affected many such as myself. I lost quite a bit from these fees. Now I use pre-paid debit cards to make sure that i do not incur these types of charges foregoing.

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avatar Matt

Not that I in anyway condone B of A’s practice of rearranging charges (it’s important I start by saying this so I can cue people back to it when I get stupid responses) but B of A is like most businesses in America, the only obligation is to the share-holders. So when the gov’t passes legislation the bank finds fun and creative ways to suck every dime out of you and I.

We are all under the impression that America is the great utopian society where we all work together for the greater good. It’s just not true. B of A does not have your best interest in mind. And to be fair, they honestly don’t have too. Please keep reading. They are a business like every other business: here to make money. Now it is bad business to not take care of us, the consumers of their products. This is the joy of a free market. We can take our business to other banks who do.

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avatar Raul

Just relax people you all geting money soon so dont worry cause then we are going to have a big celebration I will let you know when and where we start geting the money.

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avatar sandy11

how do you know,boa just charged me 8.95 just to keep it open.just want to get what i can get an close this f–king account.

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avatar Raul

The only thing I advise you is to close your account with BOA so they get the feeling. “Power to the people.” Dont ever give up cause people always rule if they stay together look what happen in lybia.and egypt.

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avatar Edward

Don’t close your account till the $.10 arrives or you’ll get nothing.

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avatar Raul

I trust more a drug dealer before I trust a lawyer. Lawyers always have the advantage cause they are protected by the corrupt system.

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avatar Ken Arnold

The Mafia probably has better rates and is definitely way more trustworthy than BoA! :)

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avatar Joe

Bank of Amerika would use this tactic for overdraft on weekends:
Money in Bank $200 on Friday
Friday purchace at grocery store: $80
Friday purchase at gas station: $40
ATM withdrawal: $60 on Saturday, ATM receipt shows a positive BALANCE of $20 as of this Saturday withdrawal.
Automatic draft for my car insurance on Monday for $121.
Result, BOA charges $30 overdraft for each of the $80, $40 and $60 transactions even though the last transaction on Saturday showed a balance of $20.

The Bank of Amerika hits me for $90 of overdrafts because the “weekend” is all one “transaction day”

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avatar Edward

shoot why are you paying so little, that would have been a $105 fee @ $35 per

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avatar bbbwilkins985@gmail.com

How about this one.

$1900 direct deposit bring current balance to $2100

wrote ten checks equalling $1852, all cleared by the following friday. ALL CLEARED. I made a copy of the history for my records as i always do, becasue of my mistrust of on-line anything.

Following Monday (2nd week after payday) showing a postive balance, Monday wrote another check, for the balance and $2.52 over MY FAULT BALANCED INCORRECTLY. AGAIN MY FAULT. what i expecgted was a $35 dollar overdraft fee.

The next wednesday reviewing account on online banking I was overdrawn by $800 dollars, becasue they then re-calculated and cleared all the checks and overdraw fees and the face value of the check.

All my checks had CLEARED, and the second week bank of america recalculated all the cleared checks and started bouncing checks at $35.00 . Immediately got on-line and opened the chat. person told me they could no longer review that particular screen from the previous week but they would however refund all the bounced check fees.

I really started watching my account, everyday, and what I found was with on-line banking recalculating checks happened all the time and one penny short would cause a land slide. Sometimse it would be longe than a week, it would depend on when the checks were cleared. A couple times after that the same thing happened and all the fees were not returned the person would say i cant see the screen but i will only return 6 fees of the 7 fees.

I stopped writting checks.

As for bank of america they have always been crooked, i remember my mother years back in a frenzy behind bank of america, yelling and screening through the house about bank of america this and bank of america that. I asked her about bank of america she is now 70 years of age and still says the same thing they are crooked.

My advice remove your money from the banks especially bank of america and join a credit union. bank of america was born in North Carolina, go back and read the real history of the state and you will begin to understand bank of america crooked, shaddy dealing is a part of the south, just like the southern kindness.

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avatar jerry richeson

ive got something to say about those who think they know what bofa is its a ripe off just like most banks are federual credit uoions are the way to go . i was a loyle customer my checks were direct deposet once a week by the time it was there all i had work for every week was gone most in overdraft fees bofa cost me alot you tell me to learn how to use my money i work hard every week and when i get my check at the bofa its already almost gone this law suit make since hold them responceable for there theft if you dont then next time it could be YOU

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avatar Ken Arnold

It’s the way that they held and reordered the overdrafts that led to the problems. Typical SCUM business practice to screw the consumer!!

1 overdraft and they paid the bounce would be what an honest Bank would do and what most of us counted on. We all can get caught short and absolutely need to bounce something to not have a proble, they fed off of this problem.

The entire Banking industry needs to be further regulated against such blatant deceptive practices with stiff fines imposed and follow-ups.

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avatar Waiting for mine...

This happened to me once…

I made a purchase and then realized I overdrafted the account. I put money in to cover the purchase after but still got hit with the $35 overdraft fee. No problem, I made the mistake.

But

The $35 charge put my account back in the negative, and I received another fee. They would not reverse the 2nd charge. Moral of the story: goodbye BoA.

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avatar Monica Franklin

I remember making a purchase for gasoline, to my surprise I pumped exactly what I had in my account for the purchase, but then I got a little post card in the mail fro BofA saying that my account was overdrawn in the amount of $1.00, they paid it and charged me $35.00. the reason that tmy account went over by $1.00 was becasue the merchant first authorized the $1.00 to make sure that the card was active, they actually place a hold on the $1.00 then when the actual purchase is sent through they remove the authorization. Bank of America refused to refund the $35.00 fee to me becasue they said that I should have had enough to cover the authorization, I had no idea that the card would have been authorized first aat that time. Such Crooks

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avatar Ebony Ivey

THIS A REPOST OF MY INITIAL POST. I MADE CLARIFIED A FEW OF MY THOUGHTS.

As a former employee and former customer of BofA I saw more than I care to share with how business was conducted. The bottom line is this, it takes money to attract more money. If you don’t have money, they don’t care about you. You don’t get the premium prices or discounts when it comes to any of their accounts, ranging from a simple checking account to their investment accounts.
I can remember when Bank of America (in the Charlotte Area) was NCNB (North Carolina National Bank) then after the merger in the late ’90′s and the move of headquarters to Charlotte, things gradually started to change. I was told once when I was charged the fee that you have to request the service to not allow your account to be over drafted. Why do I have to request that service? It’s a given, if I don’t have it, don’t run it. The response I was given is that each customer has a “over the limit threshold” the bank will allow them to reach before cutting off their spending and declining their transactions. NO! Wrong answer. So now I’m in the clear but when my next check deposits you eat it up and I have nothing left next week. ARE YOU SERIOUS? But this is the # 1 bank in the country? Ignorance is bliss and what you do not know does hurt you. If consumers knew about this and did something about it, BofA would be hurting, but since people don’t know and BofA has the financial resources to cover the truth, the cycle continues. I remember the days when it the money wasn’t in your account, your debit card was declined. Period. It was embarrassing but at least it saved you money. Even today they will still allow you to make a withdrawal from their ATM if you have nothing in your account, but now they will run this little message asking your permission to charge you the overdraft fee. What’s the difference, you are allowing a person to incur a debt. If I don’t have the money, why would you give me the money and charge me an outrageous fee for it. If that’s the case I might as well go to a pay day lender and pay 40% interest for a loan. Please know the attorneys that represented us didn’t have the customers in mind but themselves. Also know no matter what BofA or any bank says they are far from broke. Check the balance sheets, and start to educate yourselves on simple business.

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avatar lynn ♦155 (Cent)

If I don’t have the money, why would you give me the money and charge me an outrageous fee for it.

To make more money, more money. Part of the stress of today’s lifestyle is constantly watching our backs. From people and corps that we are suppose to have a good relationship with.

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avatar shane

i once called bank of america regarding my overdraft charges and was told by a csr that answered my call that online banking was just a tool to go by andwas not an accurate up to date statement of my account. now hows that one

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avatar Teresa

i was told the same thing several times

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avatar Fermin

I was told the same thing. I told them I never agreed to any kind of loan to pay for anything i didn’t have the money for so why were they approving the transactions. That’s when they finally told me I could opt out of overdraft. I have only paid one overdraft fee in two years since then.

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avatar Ned

They never told me about that and still would allow me to overdraft

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avatar Marilyn

but they tell you to look at balance history which is like a ledger.,…damn some transactions are cleared on my account but according to that it is still processing and has been for weeks….dont get it..they have more excuses and cannot fully explain anything and they wonder why people are pissed!!! Bet if it was their money it would be a different story!!!!

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avatar Edward

Well put. I remember when they declined purchases if you didn’t have enough, Basically they are a loan shark and they are charging a illegal % on the loan. maybe we all need to take them to court for their loan %’s being way higher than the legal amount.screw the lawyers if 12.3 million people show up at court. What would the judge think.

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avatar oneof99%

A mgr. @ BoA suggested to me (esp. for wknd use) to withdraw $300 in cash. This to be used for gas, groceries, etc. Instead of using my card and possibly incurring multiple fees; get the cash and pay $35 once (just be sure to cover yourself for any outstanding checks, auto bills to be paid, etc.)

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avatar Deedee

Take your money out.Put it on a hometown bank,a smaller bank,Stop paying for the CEO cars and houses, they us more then we need them,shut them down,We are Americans we don’t have put up with it.

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avatar Gregg Hicks

I have been taken for over $2000. Now they are saying I will only receive less than one over draft.
why don’t we go after BoA and the lawyers for miss-represention in the law suite.The Bank has settled but the money will not reach us.It’s our money not the dam lawyers.

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avatar Ella N.

Why was this put through the legal process and hard work just to give nothing to the customer who was affected? I was expecting a reasonable payout because I too was charged $1000 within 2 years. No wonder many customers are switching from banks like Bank of America to credit unions and occupying city centers! I’m seriously considering switching to a local credit union.

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avatar mls

I am a little confused about wat we will receive yes I’ve done the math but is it true and why would they lie about wat u r gonna get

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avatar Edward

Trust me if you get $10 concider yourself lucky. I lost a few hundred and I had written it off long ago. I never thought it would get this far.

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avatar Alex A

Bofa represents corporate thieves. What would you call lawyers, greeds?. I see a cartoon that has me and you on the ground, being trampled on as lawyers and bofa slug it out. We need to rise and take this fight up by ourselves. No one else would do us good.

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avatar mls

I tried to FAX my papers at Kinko but it won’t go thru on the page they emailed me the number is the same as the customer service number wat am I doing wrong

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avatar desi cameron

NOT ONLY IS THE BANKING SYSTEM OUT OF CONTROL,BUT THE HOUSING MARKET IS CORRUPT AS WELL.HOW CAN A BUILDER BUILD A HOUSE FOR ABOUT $50 TO $75 THOUSAND DOLLARS,SELL IT TO A FINANCIAL INSTITUTION FOR $150 THOUSAND,AND THEN THEY SELL IT TO US AFTER ALL PAYMENTS HAVE BEEN MADE COMES TO ABOUT $400 TO $450 THOUSAND DOLLARS.THIS IS NOT THE AMERICAN DREAM,THIS IS A NIGHTMARE.THIS CANNOT CONTINUE.

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avatar Cynthia

That is because the Government has failed us and I am not talking about President Obama’s adminstation. They’ve allowed “Corporate Amerca” to do whatever they wanted to do in the past and this has been going on long before he got in, It has progressed to a place where it is so out of control and may take longtime to correct. This mess was not created in four years or overnite, it has been stewing for a very along time and it is finally at it’s boiling point!!!

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avatar sandy11

cynthia,you hit the nail on the head.where are all our jobs,push them out of the U.S.They need to reverse what they did,taxes,so they will come back.

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avatar Raul

Open a credit union account cause the banks dont like the credit union they been trying to get rid of them for many years but havent been able to.

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avatar Stephen

Does that remind you of the movie ” It’s a Wonderful life “?

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avatar mary

I was an employee at BOFA for ten years, I occured many overdraft fees an the fact that we only going to receive so liitle is mindblowing these crooks get away with so much but hopefully everyone paying attention to them please close all accounts with these bloodsuckers!

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avatar Edward

If you close your account, You won’t do anything but give the blood sucking lawyers more money, as they will just keep your portion.

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avatar Jessica

I really hope we get more than just 1 overdraft fee. I was laid off last year. At that point I was living week to week on unemployment. I figured I would use my debit card for groceries and necessities and write a check for the mortgage to only receive one NSF fee and replace it with my next check. Because of their “book keeping” they kept my debits pending for FIVE DAYS until my mortgage posted. Then posted the remaining debits. I ended up with 7 NSF fees at $35 a pop. Because I only planned on replacing the remaining mortgage payment I was then forced to keep overdrawing. I ended up paying over $6k in NSF fees last year by the time I caught up. BOA refunded $240 of those fees. I even went into the bank and talked to a manager and explained that I shouldn’t receive NSF fees for my debits because I HAD MONEY IN THE BANK AT THAT TIME!! I asked them to show me on paper their policy where it says they have to post biggest to smallest. They couldn’t. Had I known I could sue on my own I would have…

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avatar Edward

You won’t get half a fee returned there isn’t near enough money for that.

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avatar Ro

When are we going to appeal??

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avatar Stephen

When you find out, will you please let me know?

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avatar Beth

This lawsuit is very crazy. I do not think that the bank of america customers should suffer. I have been a Bank of America customer since the bank was named NCNB, then the name went to NationsBank,and then I think Bank of America? I have lost over $1000 in a ten year period. I am not rich I had just graduated from college in 2000, and most of the fees that I had paid put me in the negative, and with no money for anything. I think that I should get all if not most of the overdraft fees I paid instead of switching to another bank, which I really wanted to do during all of this mess. I don’t think the attorneys should get the bulk of the suit. All of the money that Bank of America pocketed over this 10 year period, they made interest on this money and profited from this which made them one of the biggest banks around. This money that they pocketed belonged to the customers, which if they had not made the mistake of putting their money in there, Bank of America would not be where they are today. And now we the customers have to wait longer to see if there is an appeal? What kind of suit is this? It seems like this lawsuit favors only the lawyers and not the customers. Put the money in the customers hands, which were wrongly taken advantage of, and forget all of the hungry attorneys out there, and also for the customers that Bank of America cannot locate-this portion of the money should not be donated to charity-they do not need a tax deduction or tax write-off for misappriated money.

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avatar Edward

If you want your full refund then you need a time machine to go back to before the scumbag lawyers decided to take our money. Then hire a lawyer at a rate of $350 an hour or more. see if you make out that way. I’m pissed too, trust me. But once the lawyers filed suit that it unless you opted out then you have a chance to get something. In a private suit, I’ll bet the lawyers fees take it all plus.
A class action suit isn’t to get our money back its to make the bank mpay for their mistake. Did I mention BofA is still at it. still rearranging charges to their benefit.

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avatar oneof99%

Has anyone wondered about these lawyers and who they are? I ask because, having a suspicious nature, I called a few of them. Unless I’m mistaken, one of them in
Ft Lauderdale/Miami, I believe, has an office in a Bank of America building. Interesting coincidence.
Supposin’ BofA concocted this whole lawsuit, knowing the sh_t was gonna hit the fan, just to placate us. It has all the makings of a brilliant intrigue….any novelists out there?
The majority of us, still w/BOA, supposedly waived our rights to take boa back to court
for any overdrafts by staying in this lawsuit. So they covered themselves there. I think this was somewhat of a real class action lawsuit but with BoA masterminding the whole thing..

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avatar doug

WTF? Did B of A hire their own lawyers and sue themselves? Glad I read that I would be included in the class action lawsuit if I just sat back and awaited the decision. That was sure great advice. Somebody made out real well here and it certainly wasn’t the B of A customers like myself that got a good screwing.

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avatar Stephen

No truer words have been spoken. we can and should appeal this decision and show them that THIS IS AMERICA, AND WE ARE AMERICANS!!!!

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avatar Edward

You can’t you didn’t opt out so you have already sued BofA all you people need to learn what a class action law suit is.

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avatar oneof99%

Hire their own lawyers?…..na, I don’t think so but….has anyone heard from the original plaintiffs who did hire the lawyers? How did that connection happen between them and their lawyers? Who was the one that made that happen? Have any of those original plaintiffs commented here, does anyone know?

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avatar zayne

In my very unprofessional and ignorant opinion; I think the lawyers should have taken nothing less than a settlement where BOA agreed to return $25 for every $35 overdraft fee & any additional fee that followed the initial overdraft. I too am a victim of these swine, & for me to get anything Les than half of what was taken from me, is absurd. Now I understand that something is better than nothing, & I am grateful, yet iN the same respect this is a mockery of American justice, intellegence, hell of capitalism all together. The trip is that we the people allow tHese things to happen, then we complain in the victim role, when the truth is, we really do have a say, & its more than jut close your account!!! In the middle of an economic slump, who can really think about the hectic details of switching banks. No one really so most people just continue along with this F.D.I.C. Assisted suicide. But last I checked we are all AMERICAN CITIZENS!!!! And if we don’t like the rules we can change them. We made beer illegal, & then said OOPS & legalized it. Marijuana alone as an industry of textiles, culinary, medical, agricultural, etc. Just that can pull the nation out of this slump in a matter of maybe a decade. But still we struggle?!? Why? I say if we want the money we are owed then let’s go get it. I was never informed about any of this civil hoopla its easy for them to say they did this & they did that, who will prove them wrong? The judge should get a honorable ass hole mention too, cause he let the deal go down. Which says to me the not only is swindling money away from the commonwealth an acceptable practice, but it will only get you a slap on the wrist. But if I walk down the street & say I don’t like someone cause of their race, religion, creed, height, family history, credit core, whatever the reason if I say anything negative & I get sued, I will owe that person thousands. I would have to pay dearly for exercising my constitutional freedom. Modern America is a melting pot of hypocrisy, ignorance, & injustice. We need to come together as a nation once more to take our country back, this I not what the colonial patriot fought & died for. This is not what 200 years of slavery was forgiven to become, this is not the America I was raised to stand proud of. We send soldiers away from there families in the name of democracy & capitalism; when in reality there is none of that here where we live. Some people will say “I’ve been other places & america is the best” to them I say “silencio” you are probably financially connected to country & its economic success will dictate your retirement. Quiet your fuss. And take back the money stolen from you, and after you get it, put your/our attention to the homeland, & tart taking that back while we are at it. Before we as Americans end up like our fellow Americans…(think about it)

,

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avatar Mark

I can’t speak to your professionalism, but you don’t sound ignorant at all. You said what needed to be said and it all made since. Kudos to you for putting it out there!!!!

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avatar jerry richeson

you go that is right on it!!!!!!!!!!!!!!!!!!!!!!

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avatar sandy11

all i want to know is when will we see any money in our account so i can close it.

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avatar Cynthia

I was just recently a member of a class action lawsuit with my alarm company, when they sent the information on what we were intitled to under the lawsuit, they gave the exact amount, which was $25 and a $100 Service Coupon redeemable for service calls or for parts and labor on any security system installed by the alarm company and the settlement amount was nowhere near $410 Miillion dollars. Need I say more!!

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avatar Jason Rogers

Wow, What a Scam if I would have known this was such a scam I would have made my own lawsuit. This is just one big rip off I lost way more than one overdraft fee. I honestly feel they need to fix this screw up or there should be a lawsuit against the lawyers and who ever else is getting the majority of the money. NOT HAPPY AT ALL If anyone has a good plan to help reverse this decision sign me up because this is a bunch of crap and a huge scam!!!

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avatar jerry richeson

well i see chatin just dosnt help you have the rich sime rich and people who areon the loseing end of this the rich get richer and the poor get poorer its got to the point were if you dont have thousads of dollars in your account you get hit harder than the rest maybe when they hit you with your life saving you will reallize then what i am saying thats right they took our money then the lawer working for us took our money whats next our homes well you just keep thinkin its all your faught we didnt keep up with our fiences but when your money dispiars mabye youll catcth on before its to late then again maybe you wont thank you for your advise

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avatar Edward

Is there a difference between Bernie Madoff and B of A. I think not. the rich are just trying to get back from us what he took from them. Yes all the people who had money and lost it to Bernie are now taking it from us. bankers lawyers and judges. How much of a kick back do you think the judge got from the lawyers. its done we can’t do a thing and yes I’m pissed but I refuse to cry over spilled milk.

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avatar Mark

would just like to add my name to this long list. I closed my account at BofA for this very reason. I have no idea exactly how much they screwed me out of before I wised up, but it was definitely a 4 figure number. They caused me to bounce 2 rent checks. The first one I was able to cover, but the second one I couldn’t because of “overdraft charges” and was evicted from my home. I advise anyone with an account at BofA to BANK ELSEWHERE NOW!!!!! They are the epitome of corporate greed in this country and should be shown that we’re not going to take it anymore. Let your feet do the talking. They will continue to screw people until somebody does something about it.

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avatar Chad

What a joke! The whole lawsuit was a scam, plain and simple. BOA was (and is) certainly wrong by scamming its consumers out of the millions it owes but the lawyers are the ones that saw an advantage to make an easy payday off of our money. If you read the whole settlement as of Nov.7 by the time ALL of the crooked lawyers,reps.and their families get paid the money will be gone.

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avatar mil

I would like a larger payment.At the time they screwed me they told me “This is for your convienience that we process the larger debts first.” I don’t think that question was ever asked of me.When did I approve the way that they handle my money.No wonder people are stuffing the money in their mattresses.

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avatar Susan

I agree , someone needs to sue all these law firms who get rich off of our mis fortune’s They should recieve actual cost times 3 . That’s it . And I have banked with Wells, BofA, Wachovia, BBNT, City , and they alllllllll have done this . Not to mention the 24 hour hold placed on Visa Debt card transaction while the actual transaction is prosessing so if you make a purchase for 75 on monday and the Business is processing it electronically the 75 is also being deducted then 15 is tied up in your account and is you do any further transaction you better have a reserve in your account because they will charge you NSF and then the next day you see the funds were there and you were still charged but the hold has been removed so they get their 35 out of the 75 that was on hold.

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avatar Stephen

As a vet i’m pissed, I think this whole thing stinks.It smells like something in the bathroom, you know what it is, you just don’t know who left it!!! I think we need to stick together on this and show them all (lawyers included) that WE THE PEOPLE, OF THE UNITED STATES OF AMERICA, are not going to take this one lying down. I’m game to sign anything you need.To these people, a thousand bucks is a child’s weekly allowance.

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avatar Stefani Carroll

This happened to me. I filed Bank rupt partly because of fees and interest rate increse. i did not know about suite till now so I was not able to participate. I have been involved with grieving over the loss of my daughter who passed away 3/2011. I toltal missed this suite.

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avatar Raul

If you really want money lets all go infront of the lawyer office just like the people in wall street and demand our money and stay there and built tent and sleeping bags and “power to the people.”

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avatar LaRhonda

YESSSS!!!!!!! POWER TO THE PEOPLE!!!!!!

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avatar glennp3

i wonder when i will recieve my $27 settlement since i closed my account 3 yrs ago lol

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avatar Ms. James

B of A made college very difficult for me with there processing and now i am only going to get back some B.S amt that probably wont be able to buy toliet paper for my family for a week. Swtiching banks of of 2012.

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avatar Terry

Whats another bank i can bank at? Want to close out this one.

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avatar Susan

Become a member of a credit union .

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avatar Janice

I thnk this is carzy as heck for the lawyers to get so much and we the peole are getting so little. I do hope people get more then what everyone is saying. I agree with the other folks sue the lawyers for taking so much money and it’s not fair that the people that started should get more money!

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avatar LaRhonda

WHAT!!!!!!! THIS SYSTEM SUCKS!!! IF I KNEW THAT I WAS GETT’N JERKED BY THE LAWYERS I WOULD HAVE REMOVED MY NAME!!!!!! I LOST A LOT MESSING WITH BANK OF AMERICA!! TIME TO PROTEST!!!!! WE R BEING ROBBED AGAIN!!!!

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avatar Regina Dubrava

I agree I will be in what ever you prusue. Please contact me with a anwser Rmdubrava@yahoo.com

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avatar Alex

That’s right. If bank thinks I don’t have the money. Where is the money with which to pay their charges coming from?. Emboldened whiffs. I don’t just want to talk about this. I want to get out of the class action and do my own thing. Twice beaten, am crawling on my stomach.

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avatar Gomez

Count me in I am with you they ripped us off too, that’s to much money they are still ripping off did BOA buy the lawyers why do they get to keep the money it was taken from us, not the lawyers . We have too do something

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avatar Guy

This is ridiculous…please count me in if anyone wants to take this to the next level. My email address is lindajguy@yahoo.com

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avatar Janice

I want to know when and if we are getting any money. I also would like to join folks in starting another sue against why these lawyers are getting so much money. I pray that people are wrong on the amount we are due to get. I believe B.O.A. is wrong the way they calulate fee as well. I was hit with alot of over draft fees due to that same way of paying for your checks, with drawnals etc….I closed my account ago due to this.I was a customer for a long time as well.

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avatar Jean Claude Etienne

I hope they give some realy money to file the MT Spot of all customers heart….this what we will call compensation…..I think we will like to know when this will happen. no testemony yet from any one…..

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