Bodnar v. Bank of America Overdraft Settlement

Bank of America issued account credits to Settlement Class Members who have a current Bank of America account on September 19, 2016. If you are a Settlement Class Member with a current Bank of America account, please make sure to check your account statement to confirm that Bank of America issued a credit to your account.

The Settlement Administrator issued settlement checks between October 14, 2016 through October 21, 2016 to Settlement Class Members who no longer have a current Bank of America account.

You received a check or credit because it was determined you were a member of the Settlement Class that: (1) had a Bank of America consumer checking Account in the United States; and (2) were charged Overdraft Fees between May 25, 2011, and February 5, 2016, on transactions that were authorized and approved when sufficient funds were available to cover the amount of authorization.

Bank of America agreed to establish a Settlement Fund of $27.5 million from which Settlement Class Members will receive settlement checks or account credits. The amount of your check or credit was based on the number of Settlement Class Members and the amount of Relevant Overdraft Fees each Settlement Class Member paid.

If you received a notice of the Settlement and you have a current Bank of America account but did not receive a credit, please make sure to check your account statement or for a credit that was applied by Bank of America on September 19, 2016.

If you received a notice of the Settlement and you do not have a current Bank of America account but did not receive a settlement check, your check may have returned to the Settlement Administrator as undeliverable. You should submit a signed written request to the Settlement Administrator following the instructions here.

Bank of America established a Settlement Fund of $27.5 million from which Settlement Class Members received settlement checks or account credits. Costs and fees related to Settlement and Notice administration were paid out of the $27.5 million Settlement Fund, as well as a Service Award for the Plaintiff, attorneys’ fees for Class Counsel, and reimbursement of litigation expenses, as approved by the Court.

Award calculations were done separately for each individual Settlement Class Member using each class member’s own account and Relevant Overdraft Fee history and applying the formula set forth in the Court-approved Settlement Agreement. Not every Relevant Overdraft Fee that was charged is eligible for payment under this Settlement; in general, only those Relevant Overdraft Fees on debit card transactions that were initially authorized when sufficient funds were available to cover the amount during the Class Period were used in the calculations of payments. In addition to the calculation methodology described in the Settlement Agreement, no Settlement Class Member will receive an allocation less than $5.

The Settlement Agreement is available here and describes, in detail, the calculation and allocation of Settlement Funds.

No. The deadline to object to the settlement was June 6, 2016. The Court approved the Settlement on August 4, 2016 and it is no longer possible to object to the Settlement.

No. Only Settlement Class Members who no longer have a current Bank of America account will receive a settlement check.

The settlement check may be cashed, deposited, or otherwise negotiated at any bank or financial institution (like a credit union) that is not a check cashing agency or money servicing business. If you are unable to cash the check at a bank or other financial institution, you may request that a replacement check be issued to you without the restrictive ‘check cashing’ language.

To request a replacement check, you must return the original check to the Settlement Administrator at: Bank of America Overdraft Settlement, PO Box 4178, Portland, OR 97208-4178, accompanied by a written request asking that a replacement check be issued and mailed to you without the restrictive ‘check cashing’ language.

If you cannot return the original check to the Settlement Administrator, your replacement check can only be issued and mailed to you after the original check passes its 180-day stale date.

If you lost or destroyed the settlement check, you may request that a replacement check be issued and mailed to you.

To request a replacement check, you must submit a signed written request to the Settlement Administrator at: Bank of America Overdraft Settlement, PO Box 4178, Portland, OR 97208-4178, asking that a replacement check be issued and mailed to you.

If you cannot return the original check to the Settlement Administrator, your replacement check can only be issued and mailed to you after the original check passes its 180-day stale date.

First, please go to the bank or financial institution in which you are a current account holder as they may negotiate the settlement check if documentation regarding the status of the primary account holder and your status as the beneficiary/executor is presented.

If your bank or financial institution will not negotiate the check as-is, please return the original check and a copy of the deceased primary account holder’s death certificate to the Settlement Administrator along with a letter signed under penalty of perjury, declaring that you are lawfully designated to receive the funds on behalf of the deceased account holder.

Please return the original check, your written reissue request and any supporting documentation to:

Bank of America Overdraft Settlement
PO Box 4178
Portland, OR 97208-4178

First, please go to the bank or financial institution in which you are a current account holder as they may negotiate the settlement check if documentation regarding the status of your name change is presented.

If your bank or financial institution will not negotiate the check as-is, please return the original check to the Settlement Administrator at: Bank of America Overdraft Settlement, PO Box 4178, Portland, OR 97208-4178, accompanied by a signed written request asking that a replacement check be issued and mailed to you. Please include instructions for the name that should be included on the replacement check. You do not need to provide documentation for the name change.

A Court authorized this website because you have a right to know about the proposed Settlement of this class action lawsuit and about all of your options, before the Court decides whether to give Final Approval to the Settlement. This website explains the lawsuit, the Settlement and your legal rights.

Judge Edward G. Smith, of the U.S. District Court for the Eastern District of Pennsylvania, is overseeing this case. The case is known as Sherry L. Bodnar v. Bank of America, N.A., Case No. 5:14-cv-03224-EGS. The person who sued is called the “Plaintiff.” The Defendant is Bank of America.

The lawsuit claims that Bank of America breached its contract with consumer checking Account holders and unfairly assessed and collected Overdraft Fees on certain Debit Card transactions.

The complaint in this Action is posted in the Important Documents section and contains all of the allegations and claims asserted against Bank of America. Bank of America maintains it did not breach its contract and treated Account holders fairly. The Court has not decided which side is right.

An Overdraft Fee may be assessed to a holder of an Account for items paid when the Account has insufficient funds available at the time of settlement. The Overdraft Fees that this litigation is concerned with, called Relevant Overdraft Fees, resulted from transactions 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. Not all Overdraft Fees are Relevant Overdraft Fees.

In a class action, one or more people, called Class Representatives (in this case, one Bank of America customer who was assessed Overdraft Fees on Debit Card Transactions), sue on behalf of people who have similar claims.

All of the people who have claims similar to the class representatives are members of the Settlement Class, except for those who exclude themselves from the Class.

The Court has not decided in favor of either the Plaintiff or Bank of America. Instead, both sides agreed to the Settlement. By agreeing to the Settlement, the Parties avoid the costs and uncertainty of a trial, and Settlement Class Members receive the benefits described in FAQ 17 below. The Class Representative and her attorneys think the Settlement is best for everyone who is affected.

You are a member of the Settlement Class if You: (1) had a Bank of America consumer checking Account in the United States; and (2) were charged Overdraft Fees between May 25, 2011 and February 5, 2016 on transactions that were authorized and approved when sufficient funds were available to cover the amount of authorization.

If this did not happen 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 Class.

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 for Class Counsel, and reimbursement of litigation expenses, as approved by the Court.

If you are in the Settlement Class and entitled to receive a payment, you do not need to do anything to receive a payment or Account credit. If the Court approves the Settlement and it becomes final and effective, you will automatically receive a payment or Account credit.

Unless you exclude yourself from the Settlement Class, you cannot sue, continue to sue or be part of any other lawsuit against Bank of America about the legal issues in this case or based on the conduct at issue in this case. It also means that all of the decisions by the Court will bind you. Section XIV of the Settlement Agreement describes the precise legal claims that you give up if you remain in the Settlement. The Settlement Agreement is available in the Important Documents section of this site.

The deadline to exclude yourself from the settlement was June 6, 2016. It is no longer possible to file a request for exclusion.

No. Unless you exclude yourself, you give up the right to sue Bank of America for the claims that the Settlement resolves. You must exclude yourself from this Settlement Class in order to try to pursue your own lawsuit.

No. You will not receive a payment or Account credit if you exclude yourself from the Settlement.

The Court has appointed lawyers to represent you and others in the Settlement Class as “Class Counsel,” including:

Class Counsel will represent you and others in the Settlement Class. You will not be charged for these lawyers. If you want to be represented by your own lawyer, you may hire one at your own expense.

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 the amount of fees and expenses to award. Class Counsel will also request a Service Award of up to $20,000.00 for the Plaintiff to be paid from the Settlement Fund to the Class Representative for her service to the entire Settlement Class.

The deadline to object to the settlement was June 6, 2016. The Court approved the Settlement on August 4, 2016 and it is no longer possible to object to the Settlement.

Objecting is telling the Court that you do not like something about the Settlement. You can object to the Settlement only if you do not exclude yourself from the Settlement. Excluding yourself from the Settlement is telling the Court that you don’t want to be part of the Settlement. If you exclude yourself from the Settlement, you have no basis to object to the Settlement because it no longer affects you.

The Court held a Final Approval Hearing on August 3, 2016 at 10:30 a.m., at the United States District Court for Eastern District of Pennsylvania, located at The Holmes Building, 4th Floor, 101 Larry Holmes Drive, Easton, PA 18042.

The Court approved the Settlement on August 4, 2016.

No. Class Counsel will answer any questions the Court may have. But, you may come at your own expense. If you send an objection, you don’t have to come to Court to talk about it. As long as you submitted your written objection on time, to the proper address, and it complies with the requirements set forth above, the Court will consider it. You may also pay your own lawyer to attend, but it’s not necessary.

The Court held a Final Approval Hearing on August 3, 2016. It is no longer possible to speak at the hearing.

To receive more information about this Settlement, you may write with questions to the Settlement Administrator at info@BankofAmericaOverdraftSettlement.com or Bank of America Overdraft Litigation, PO Box 4178, Portland, OR 97208-4178, or call the toll-free number, 1-866-960-5963.

Do not contact Bank of America or the Court for information.