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BOA Pays $66.6M To Settle Overdraft Fees Lawsuit

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posted on Aug, 21 2018 @ 03:48 PM
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These dirtbags have been taking advantage of the poorest Americans for decades, not just BOA but most industries in the US prey among the people with the worst living conditions. Gross.

BOA Loses Lawsuit


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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.


Hopefully this sets a precedence and more suits are filed. The "to big to fail" banks just taking advantage of people and getting away with it again.



Not surprised. Not much to say most of you already know what these dirtbags are up to. Just waiting for another tax payer bailout while they take advantage of us every way they can.




posted on Aug, 21 2018 @ 03:55 PM
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Hosers probably collected a billion first.


Added:

It's probably a bigger barometer of the economy when all of these banks are trying to stay afloat with creative rule changes to rack up fees.

Cashing checks smallest to largest, changing banking hours, excess atm fees, fake accounts etc...

That's the real scary part.

edit on 8 by Mandroid7 because: Addd 2



posted on Aug, 21 2018 @ 04:01 PM
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a reply to: toysforadults

Pretty small payout when you break it down. Each person is only getting about $11. That's less than a single overdraft fee.



posted on Aug, 21 2018 @ 04:06 PM
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a reply to: Mandroid7

Yeah. Drop in the bucket.

They better bail them out for another trillion.



posted on Aug, 21 2018 @ 04:06 PM
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originally posted by: Xcalibur254
a reply to: toysforadults

Pretty small payout when you break it down. Each person is only getting about $11. That's less than a single overdraft fee.


Of course. No criminal charges either. Probably getting bonus's for devising this scheme.



posted on Aug, 21 2018 @ 04:08 PM
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a reply to: toysforadults

These bastards (all banking) are the real problem behind all problems. University, hospital, doc offices, industry, mortgages, rent, government...absolutely everything relates to bankings inscrupulous behavior, well and the Vatican and European monarchy families...but I guess theyre all one in the same.



posted on Aug, 21 2018 @ 04:10 PM
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a reply to: BlueJacket

Yup. Vatican behind most of it under the influence and power of the Venetian banking elite otherwise known as Black Nobility.



posted on Aug, 21 2018 @ 04:10 PM
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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.

edit on 8 by Mandroid7 because: Fix spelling



posted on Aug, 21 2018 @ 04:13 PM
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a reply to: Mandroid7

could not agree more, our society does not favor a hard working honest individual we need to culturally decide we've had enough of this bull#



posted on Aug, 21 2018 @ 04:53 PM
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a reply to: toysforadults

These things always happen eventually.



posted on Aug, 21 2018 @ 05:00 PM
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This was a result of a second overdraft fee five days after the first one.
The customer is responsible for the first fee but the second was considered interest.

Another reason I prefer credit unions.



posted on Aug, 21 2018 @ 10:10 PM
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66.6 huh. Interesting sum they came up with there.

This is just getting ridiculous now.

always the number 666. money.cnn.com...



posted on Aug, 21 2018 @ 10:21 PM
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a reply to: booyakasha

You know how it goes

Nice catch



posted on Aug, 21 2018 @ 10:26 PM
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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.



They are moneychangers straight out of the bible destined for a fiery ending.



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