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Home › Forums › Miscellaneous Forums › Miscellaneous – Off Topic & “Lighter Fare” › Bank of America › Re:Bank of America

October 10, 2009 at 8:08 pm #2707263
kevinR
kevinR
Member

Bank of America has been involved in class-action suits just like some other financial institutions. Now, . Bank of America’s customers, past and present, might get part of a class-action settlement. But don’t expect a windfall. A federal judge in Miami Tuesday ordered the banking giant to pay parts of a $410 million settlement to more than 13million of its debit card consumers. The case alleges that the financial institution used a policy in posting its debit card transactions that resulted in more overdraft charges. Customers who can claim part of the settlement are those who were charged overdraft fees caused by the bank s practice of posting debit card transactions from largest to smallest amount, instead of in the order they were made. It is a practice the bank discontinued in May, 2009.

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