Bank of America Class Action Lawsuit Over Extended overdraft fees and Transfer Fees

The Bank of America class action lawsuit revolves around the bank’s overdraft policies. The bank was sued by an individual for breach of contract and fraud. The bank was sued because it would not lower the amount of interest that was owed on loans taken out by the bank’s borrowers. This class-action lawsuit was filed by a former loan applicant who had applied for a home loan through Bank of America.

The bank was hit with class-action status because its overdraft policy discriminated against many of its borrowers.

According to initial findings in the case, the bank failed to make good faith calculations as to how many customers it could foreclose on based on the number of assets it held. When a customer had too much-unused debt, the bank did not have the option of foreclosing on the assets of that customer. Thus, the bank violated the Fair Debt Collection Practices Act or FDCPA when it failed to make good faith calculations of the number of its customers that it could foreclose on based on the assets it had on hand.

This is just one of the class action lawsuits that the bank has faced.

The bank was also sued by a group of former employees and retirees for the same reason. In this class action suit, the plaintiffs alleged that the bank charged them with exorbitant overdraft fees when they did not want to pay the overdraft fees. The suit further alleged that the bank charged them with these fees once they missed a couple of payments on their credit cards and then again when they tried to take out another credit card with the same insufficient funds. All of these charges added up to nine days of missed payments for each plaintiff.

The bank is being sued because of these actions. But if you read the statement of charge from the bank of America, you will see that it did not commit any wrongdoing in its overdraft fees policy. The reason why it was not guilty of any wrongdoing is that it has a policy that states that account holders cannot be held accountable for charges that are incurred due to overdraft privileges. In other words, it is immune from all accountability unless and until it can prove that it was either negligent or reckless in its processing policies. So basically, the bank cannot be sued for these fees even if it was found that it was trying to get more money out of its account holders.

If you are a victim of Bank of America’s predatory actions, then it is time that you brought a lawsuit against the bank.

Bank of America charges this kind of excessive fees and if you are a class member, you should be able to receive compensation from the bank for the punitive damages you suffered. You need to look into your options on how you can go about putting a lawsuit against the bank. The first step you need to take is to check with your local Bar Association to see if there is a lawsuit against the bank over its overdraft fees and transfer fees. If you find such a lawsuit, then you need to file a motion to withdraw your lawsuit against the bank as soon as possible.

An extended overdraft fee lawsuit is one of the most profitable opportunities that you can avail of today if you are a class member. You need to look into getting a good settlement since you do not want to go through the trauma of having your case dismissed by the court. If you have an experienced attorney, then they can help you look into filing a lawsuit as soon as possible. A good settlement can lead to an increase in your savings and a good settlement can also lead to the award of tax rebates, making this lawsuit worth every penny.

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