Dedicated to Deposits: Deals, Data, and Discussion
Featured Savings Rates
Featured Accounts

Bank Of America Starts Overdraft Rebate Outreach

Friday, August 5, 2011 - 1:04 PMBank of America - Details
From AP via NYTimes.com
If you had a Bank of America account with a debit card between January 2001 and May of this year, you may be due some cash.

The nation's largest bank has started contacting customers who may be entitled to a refund. It recently reached a class-action settlement over the way it charged overdraft fees. Most of the other suits are continuing to work their way through federal court in Florida.

Bank of America agreed to set up a $410 million fund to settle the lawsuit. The money will be used to pay back customers who were charged overdraft fees as a result of the company's policy of processing debit card transactions based on the size of the transaction, rather than when the purchases occurred. 

[Read more...]
3
WhataBummerWhataBummer413 posts since
Oct 15, 2010
Rep Points: 1,702
Reply