Overdraft Fees at Bank of America
Allegations: Misrepresenting when and how many overdraft fees consumers will be charged
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 factors, including the number of overdraft fees paid by the class member, the attorneys’ fees, and the service awards to the named plaintiffs, but is estimated to be $17.67 for each overdraft fee charged. A final fairness hearing is scheduled for January 29, 2020. For more information, go to http://www.nonrecurringoverdraftsettlement.com/.
February 2019: A class-action lawsuit was filed against Bank of America for allegedly misleadingly representing that it does not charge overdraft fees on non-recurring debit card transactions when, according to plaintiffs, the bank regularly charges such fees on certain non-recurring debit card transactions (e.g., transactions with Lyft, Grubhub, and DoorDash) that put accounts into negative balances. (Owens et al v. Bank of America, N.A., et al, Case No.19-cv-20614, S. D. Fla.)
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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
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…
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…
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