Who is a Class Member
- The Bank of America Extended Overdrawn Balance Charges Class Action Settlement includes “all holders of BANA consumer checking accounts who, between February 25, 2014 and December 30, 2017, were assessed at least one EOBC that was not refunded.”
Current Bank of America accountholders will receive a cash payment deposited directly to their account. Former Bank of American account holders will receive a check payment. Actual settlement payouts are dependent on the number of overdraft fees incurred by Class members.
Additionally, “debt relief will be provided to Settlement Class members whose checking accounts were closed in overdrawn status with an EOBC still pending and whose overdrawn balances remain due and owing to BANA. Debt relief will be provided in the form of debt reduction, in an amount up to $35.”
Proof of Purchase
Bank of America Extended Overdrawn Balance Charges Settlement Notes
- Joanne Farrell, et al. v. Bank of America, N.A.
- Case No. 3:16-cv-00492-L-WVG
- Pending in the U.S. District Court for the Southern District of California
Plaintiffs Joanne Farrell, Ronald Dinkins, Larice Addamo, and Tia Little filed this class action lawsuit against Bank of America alleging the bank routinely and intentionally wrongfully assessed its customers so-called “Extended Overdrawn Balance Charges.” According to the plaintiffs, the gist of the Extended Overdrawn Balance Charges is as follows:
“If Customer “A” were to overdraft his or her account by $500.00, the bank first charges an overdraft fee of $35.00 per transaction. However, if Customer “A” fails to replenish his or her account to bring the balance to a positive figure within five (5) days, then the bank deducts yet another $35.00 from the account of Customer “A” for having extended this credit. Unlike an initial overdraft fee, the Extended Overdrawn Balance Charge is an additional charge to a customer for which the bank has provided nothing new. The charge is based solely on the alleged indebtedness to the bank remaining unpaid by the customer for a period of time.”
Specifically in Farrell’s case, her monthly bank statements for her “BofA Core Checking” show that she went into “overdraft” status on October 13, 2015, and remained in that status for thirteen days. On day seven, (October 20, 2015), Bank of America charged her an Extended Overdrawn Balance Charge of $35.00. During that limited period, Farrell’s negative account balance fluctuated from -$3.59 to -$284.86. The $35.00 sustained overdraft fee that Bank of America charged Farrell was in addition to six overdraft charges totaling $210.00 that Bank of America also charged her during this same time period for the two transactions that created her “overdraft” status in the first place.
Bank of America denies liability. Complete details about the case and settlement are provided on the Bank of America Extended Overdrawn Balance Charges settlement website.
Class action lawsuit members who wish to exclude themselves or object to the Bank of America Extended Overdrawn Balance Charges settlement must do so by April 20, 2018. Class members who wish to payment from this settlement do not need to do anything.
- 4/20/18: Objection or Exclusion Deadline
- 6/18/18: Final Hearing at 11:00 am PT (class members do not need to attend this hearing in order to receive a slice of the settlement pie).
*Settlement Class Members who wish to speak at the hearing should check www.EOBCSettlement.com to confirm that the date or time of the Hearing has not been changed.
- Mail: EOBC Litigation, P.O. Box 3170, Portland, OR 97208-3170
- Phone: 1-888-396-9598
- Hassan Zavareei of Tycko & Zavareei LLP
- Jeff Ostrow of Kopelowitz Ostrow PA
- Bryan Gowdy of Creed & Gowdy PA
- Cristina Pierson and John R. Hargrove of Kelley Uustal PC