Overdraft Fees at Bank of America
Allegations: Misrepresenting when and how many overdraft fees consumers will be charged
Ramirez et al. v. Bank of America, N.A.
22-cv-859, N.D. Cal.
(Feb. 2022)
Checking accounts
Falsely representing that it would provide accountholders with refunds of various bank fees – including overdraft fees and monthly maintenance fees – during the COVID-19 pandemic when the bank systematically refused to provide refunds
Pending
Allegations: Misrepresenting when and how many overdraft fees consumers will be charged
Allegations: Falsely representing that consumers must pay a fee to transfer money
Allegations: Preventing consumers from giving negative reviews of Bank of America on its website and app
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
Allegations: Failing to disclose that customers will be charged fees on incoming wire deposits
Allegations: Misrepresenting when consumers will be charged overdraft fees
Allegations: Misrepresenting when consumers will be charged overdraft fees
Allegations: Misrepresenting when consumers will be charged overdraft fees
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
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
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
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…
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…
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…
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…
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…
Lawsuits take aim at so-called non-disparagement clauses.
CFPB order provides refunds to consumers harmed by Bank of America’s practices.
A majority have faced false-ad challenges within past five years.
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…