Bodnar v. Bank of America Overdraft Settlement

Written by Welcome on March 22, 2016

Sherry L. Bodnar, on Behalf of herself and All Others Similarly Situated, Plaintiff, vs. Bank of America, N.A.

You might be eligible to participate in a class action lawsuit against Bank of America if you paid overdraft fees on debit card transactions. Contact us today to learn more. 

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Important Dates:

Exclusion (or Opt Out) Deadline: 06/06/16

Claim Deadline: None

Objection Deadline: 06/06/16

Final Approval Hearing: 08/03/16

Members of the settlement class were or are Bank of America customers with consumer checking account in the United States who were charged Overdraft Fees between May 25, 2011, and February 5, 2016, on transactions authorized and approved when sufficient funds were available to cover the amount of authorization.

Unless this happened to you, you are not a member of the Settlement Class. You may contact the Settlement Administrator if you have any questions as to whether you are in the Settlement.

The direct notice was sent to members of the class. If you believe you received a notice in error or you believe you are entitled to participate in the class and did not receive notice, contact the Settlement Administrator.

The Court in charge of this case must still decide whether to approve the Settlement. Payments and Account credits will be provided if the Court approves the Settlement and after any appeals are resolved.

Bank of America has agreed to establish a Settlement Fund of $27.5 million from which Settlement Class Members will receive payments or Account credits. The amount of such payments or Account credits cannot be determined at this time. However, it will be based on the number of Settlement Class Members and the amount of Relevant Overdraft Fees each Settlement Class Member paid. Costs and fees related to Settlement and Notice administration will be paid out of the $27.5 million Settlement Fund, as well as a Service Award for the Plaintiff, attorneys’ fees approved by the Court.

Class Counsel intends to request up to thirty-three percent (33%) of the money in the Settlement Fund for attorneys’ fees, plus reimbursement of their expenses incurred in connection with prosecuting this case. The fees and expenses awarded by the Court will be paid out of the Settlement Fund. The Court will determine a number of fees and expenses to award. Class Counsel will also request a Service Award of up to $20,000.00 for the Plaintiff be paid from the Settlement Fund to the class representative for her service to the entire Settlement Class. 

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If you have questions or concerns, please contact us.