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Bank of America has reached a settlement in a lawsuit over extended overdraft fees, agreeing to pay consumers $66.6 million.
Citing a court filing, CNBC reported news that the settlement, which still needs the approval of the court, resolved a 2016 lawsuit that contended the bank’s extended overdraft fees was really interest and, as a result, was subject to rules that prevented excessive fees.
The settlement will compensate close to 6 million Bank of America customers around the country who have been paying extended overdraft fees since as far back as February 2014. Bank of America agreed to stop hitting customers with extended overdraft fees for five years. That, lawyers said in the court filing, will save customers around $1.2 billion.
originally posted by: Mandroid7
a reply to: toysforadults
Time for a new currency really. Make 'em work for a living, instead of middle-manning everyone, living like a king, and producing nothing, while paying jackall on taxes.
Bunch of diseased leeches.