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- Aug 11, 2007
just got my mail today and got a nice surprise from bank of america from the overdraft settlement
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Originally Posted by Nktran001
Wait... Every BofA customer will get one in the mail?
Originally Posted by a55a5in11
i've never over drafted
Originally Posted by a55a5in11
i've never over drafted
The lawsuit claims that Bank of America processed debit card transactions in order of highest to lowest dollar amount to maximize the number of overdraft fees assessed to its customers. Specifically, the lawsuit claims that, instead of declining transactions when an account had insufficient funds to cover a purchase, Bank of America authorized the transactions and then processed them in highest to lowest dollar amount order, which had the effect of increasing the number of overdraft fees the bank charged its customers. The complaints in this action are posted on this website, and contain all of the allegations and claims asserted against Bank of America. Bank of America maintains there was nothing wrong about the posting process used.
So wait, when was this lawsuit settled? Because BofA STILL does this. I've had them turn off Overdraft protection on at least 3 different occasions because of this. But eventually they make some "change" and it gets turned back on.
Originally Posted by FlipnKraut
I need to check my mail.
I just went over that link that was posted.
The lawsuit claims that Bank of America processed debit card transactions in order of highest to lowest dollar amount to maximize the number of overdraft fees assessed to its customers. Specifically, the lawsuit claims that, instead of declining transactions when an account had insufficient funds to cover a purchase, Bank of America authorized the transactions and then processed them in highest to lowest dollar amount order, which had the effect of increasing the number of overdraft fees the bank charged its customers. The complaints in this action are posted on this website, and contain all of the allegations and claims asserted against Bank of America. Bank of America maintains there was nothing wrong about the posting process used.