Bank of America has agreed to a $410 million settlement for their part in a broad class-action lawsuit filed by consumers against excessive overdraft fees. The lawsuit accuses many of the nation's banks of "manipulating debit transactions to maximize the fees they could charge customers who exceeded the balance in their accounts." Other defendants in the lawsuit include JPMorgan Chase, Wells Fargo, U.S. Bank, and Citibank Andrew Martin, The New York Times 05/23/2011
Sunday, May 29, 2011
Bank of America Agrees to Settlement in Fees Lawsuit
Bank of America has agreed to a $410 million settlement for their part in a broad class-action lawsuit filed by consumers against excessive overdraft fees. The lawsuit accuses many of the nation's banks of "manipulating debit transactions to maximize the fees they could charge customers who exceeded the balance in their accounts." Other defendants in the lawsuit include JPMorgan Chase, Wells Fargo, U.S. Bank, and Citibank Andrew Martin, The New York Times 05/23/2011
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