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Judge OKs $410M for Bank of America customers

lpast

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PURE GREED and I hope more banks and corps get hit for being the sleezes they are. I hope this shakes up other sleezy GREEDY criminal CEOs

A federal judge on Monday gave final approval to a $410 million settlement in a class-action lawsuit affecting more than 13 million Bank of America customers who had debit card overdrafts during the past decade.





Judge OKs $410M for Bank of America customers
 
So, people think they can overdraw their bank account and that's it? :rofl
 
Unfortunately the fine was peanuts. The banks are still in charge and they continue to by whatever power they need in Congress and in Washington.
 
So, people think they can overdraw their bank account and that's it? :rofl

Probably not, but there should be a limit to the cost of that. Hell, close their accounts. But making it a revenue generating business? Such is asking for trouble.
 
So, people think they can overdraw their bank account and that's it? :rofl

If you'd read - it's not about overdrafting, per se...BoA would arrange transactions in order to collect the most overdraft fees possible. Someone who was tight on funds might make the decision to overdraft, thinking they'll take a $35 hit. Only for BoA to rearrange pending transactions in a way where instead of $35, a customer would end up with $105 or $140. I can say that because when I first moved to Nashville and joined BoA, things were tight. Happened to me twice.

Haven't had a fee in more than three years now, but when times were tight, it's pretty shocking to plan for $35 and to suddenly find 4 times that missing from your account.
 
So, people think they can overdraw their bank account and that's it? :rofl

Yeah thats it...you comprehend well...judges always award near a half billion for mere overdrawn accts...BRAVO apdst:lamo:lamo
 
So, people think they can overdraw their bank account and that's it? :rofl

They were deliberately changing the order of transaction processing to trigger additional overdrafts.

How did you not get this
 
I won't do business with BofA again.
 
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