Bank of America’s Overdraft Fees
Allegations: Misrepresenting when consumers will be charged overdraft fees
Fees at Bank of America
July 2021: The Court preliminarily approved a settlement agreement. For more information, go to http://www.nsfodsettlement.com/.
2018: A class-action lawsuit was filed against Bank of America for allegedly misrepresenting that customers will only be charged one non-sufficient fund fee or overdraft fee on the same transaction when, according to the complaint, the bank improperly charges multiple non-sufficient fund fees and overdraft fees on the same transaction. Plaintiffs also claim that the bank improperly charges monthly savings account service fees on savings accounts that meet all of the requirements for a waiver of such fees. The complaint was originally filed in March 2018 and amended in July 2018. (Morris et al v. Bank of America, N.A., Case No. 18-cv-157, W.D.N.C.)
Class-Action Tracker
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
In January 2020, a class-action lawsuit was filed against Bank of America for allegedly falsely promising accountholders that it does not charge overdraft fees on non-recurring debit card and ATM…
Overdraft Fees at Bank of America
September 2019: A federal judge preliminarily approved a settlement agreement that would automatically provide class members with cash awards. The amount of each cash award depends on a variety of…
Bank of America’s International Transaction Fees
In February 2019, a class-action lawsuit was filed against Bank of America for allegedly misrepresenting that the amount of the International Transaction Fees (fees charged when customers use a debit…
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…
Bank of America Overdraft Fees
In April 2018, a class-action lawsuit was filed against Bank of America for allegedly promising accountholders that it will not authorize non-recurring debit card transactions if the accounts do not…
The Latest
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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…