B of A to pay $410 million to settle overdraft lawsuit

  1. Stacie L profile image78
    Stacie Lposted 14 years ago

    By Jonathan Stempel Jonathan Stempel – Sat Feb 5, 1:25 pm ET

    NEW YORK (Reuters) – Bank of America Corp (BAC.N) has agreed to pay $410 million to settle lawsuits accusing it of charging customers with excessive overdraft fees, court documents show.

    The largest U.S. bank by assets is among the more than two dozen U.S., Canadian and European lenders named as defendants in the class-action litigation, which in 2009 consolidated lawsuits filed across the country.

    JPMorgan Chase & Co (JPM.N), Citigroup Inc (C.N) and Wells Fargo & Co (WFC.N) are among the other defendants named in the case, court records show.
    continued
    http://news.yahoo.com/s/nm/20110205/bs_ … settlement

    big banks are getting caught?..thats a surprise...lower income families are struggling to get ahead and they want to keep them captive it seems...

    replyreport
    1. profile image0
      reneef79posted 14 years agoin reply to this

      All of the banks mentioned should be sued.  I work with client's bank documents and noticed the banks sometimes charge these fees when the account has a sufficient balance per the bank statement

      replyreport
  2. paradigmsearch profile image60
    paradigmsearchposted 14 years ago

    "B of A to pay $410 million to settle overdraft lawsuit"

    Warms the cockles of my heart…

    "JPMorgan Chase & Co (JPM.N), Citigroup Inc (C.N) and Wells Fargo & Co (WFC.N) are among the other defendants named in the case, court records show."

    More warming... smile

    replyreport
 
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