A settlement of $27.5 million has been reached in the Sherry L. Bodnar v. Bank of America Overdraft Class Action lawsuit. Settlement Class Members can visit (www.bankofamericaoverdraftsettlement.com) to review the entire lawsuit and settlement agreement in detail. Class Members will receive payments or account credits when there is a determination reached which will depend on the number of Settlement Class Members involved and the amount of relevant overdraft fees each class member paid.
Quick Review of Bodnar v. Bank of America Lawsuit
This lawsuit claims that Bank of America consumer checking account holders were unfairly assessed overdraft fees on certain debit card transactions which is a breach of its contract to its account holders. Pertaining to this lawsuit Bank of America’s overdraft fees called Relevant Overdraft Fees resulted from transactions that were initially authorized and approved when sufficient funds were available to cover the amount of authorization, but were no longer available to cover the amount of the transaction when it settled.
The timeframe of these allegations cover the time period of May 25, 2011 to February 5, 2016. Class members that were charged overdraft fees on transactions that were authorized and approved when sufficient funds were available during this time are included in this settlement. Any specific question a class member may have can be answered by visiting (www.bankofamericaoverdraftsettlement.com) or by calling the Settlement Administrator at 1-866-960-5963 or by emailing your question to [email protected].
All of the court documents and agreement details are available for readers to review on the settlement website. Readers should visit the FAQ section of the site for answers to the most commonly asked questions. The following deadlines need to be considered:
- June 6, 2016 deadline to request exclusion
- June 6, 2016 deadline to object to the settlement
- August 3, 2016 deadline for final approval hearing