Overdraft Fees at Bank of America
Allegations: Misrepresenting when and how many overdraft fees consumers will be charged
Bank of America’s Overdraft Fees on Uber Transactions
In March 2018, a federal judge preliminarily approved a settlement agreement that would resolve a false advertising class-action lawsuit filed against Bank of America in 2016. The complaint, which was amended in March 2018, alleges that Bank of America represents that it does not charge overdraft fees on non-recurring transactions when, according to the plaintiffs, the company misclassifies Uber transactions as recurring transactions and, as a result, charges overdraft fees on them. According to the settlement terms, class members may receive an equal share of a $22 million settlement fund after expenses – including administrative expenses, service awards, and other fees – are paid. A final fairness hearing is scheduled for August 8, 2018. For more information, go to https://www.rideoverdraftsettlement.com/. (Pantelyat et al v. Bank of America, N.A. et al, Case No. 16-cv-8964, S.D.N.Y.)
For more information about other class-action lawsuits filed against banks and TINA.org’s coverage of them, click here.
Class-Action Tracker
Bank of America’s ACH Transfer Fees
Allegations: Falsely representing that consumers must pay a fee to transfer money
Bank of America
Allegations: Preventing consumers from giving negative reviews of Bank of America on its website and app
Zelle Transfers on Bank of America
Allegations: Misleadingly marketing money transfers as safe and secure without disclosing that there’s a high risk of fraud and customers who lose money in unauthorized transactions are often not reimbursed
Bank of America’s Wire Transfer Fees
Allegations: Failing to disclose that customers will be charged fees on incoming wire deposits
Bank of America’s Overdraft Fees
Allegations: Misrepresenting when consumers will be charged overdraft fees
Bank of America’s Overdraft Fees
Allegations: Misrepresenting when consumers will be charged overdraft fees
Fees at Bank of America
Allegations: Misrepresenting when consumers will be charged overdraft fees
Zelle Money Transfers with Bank of America
Allegations: Misleadingly marketing Zelle as fast, safe, and secure without disclosing that accountholders who lose money due to fraud have no recourse for reimbursement of lost funds
Money Transfer Services at Bank of America
Allegations: Failing to disclose the risks associated with using money transfer apps, including that consumers who lose money due to fraud will not be reimbursed
Refunds of Bank of America’s Fees
Allegations: Falsely representing that it would provide accountholders with refunds of various bank fees during the COVID-19 pandemic when the bank systematically refused to provide refunds
Bank of America Credit Cards
Allegations: Misleadingly representing that the bank would “offer assistance to qualifying consumer[s]” during the COVID-19 pandemic when the bank rejected requests for assistance
Overdraft Fees at Bank of America
Overdraft Fees at Bank of America
Bank of America’s International Transaction Fees
Bank of America Overdraft Fees
The Latest
CATrends: Terms That Prevent Consumers from Posting Negative Reviews
Lawsuits take aim at so-called non-disparagement clauses.
Bank of America to Pay $727 Million in Deceptive Marketing Settlement
CFPB order provides refunds to consumers harmed by Bank of America’s practices.
Which Super Bowl Advertisers Have Run Afoul of Ad Laws?
A majority have faced false-ad challenges within past five years.
Bank of America
A direct mail advertisement by Bank of America promoting low refinancing rates for homeowners has some consumer advocates concerned the materials may be misleading. American Banker reported this week that…