$78 per person for Bank of America class action suit. Go get your money folks

Discussion in 'XDTalk Chatter Box' started by billbrasky, Jan 27, 2009.

  1. billbrasky

    billbrasky XDTalk 5K Member

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    I have been speculating the banks were doing this since 1999.

    I knew i was right.



    Bret and Jemaine should file claim for $78 from Bank of America - WalletPop Blog

    Bret and Jemaine should file claim for $78 from Bank of America

    Aaron Crowe
    Jan 27th 2009 at 8:00AM
    Text SizeAAA
    Filed under: Banks, Budgets, Ripoffs and Scams
    Anyone who has been dinged by their bank for an overdraft charge, as the two main characters were in the recent "Flight of the Conchords" show on HBO, knows that sinking feeling you get when you see it on your bank statement.

    There's now a chance to exact a little revenge by getting up to $78 back from Bank of America as part of a class-action lawsuit recently settled by Bank of America and any of the banks it acquired between 2000 and 2007, according to SmartMoney story.

    The lawsuit, settled for $35 million, alleged that the bank failed to warm customers that transactions were triggering fees, and that it changed the posting order of transactions and embarked on other activities in order to increase revenue from non-sufficient funds fees, overdraft fees and similar charges.

    Bank of America denies any wrongdoing and is agreeing to pay up to $78 per account holder. The average household pays $368 in overdraft fees each year, according to Brenton Woods, a financial services advisory firm quoted in the SmartMoney story.

    WalletPop's Sarah Gilbert wrote about this method of making money at Bank of America in December.Bank of America also owns Fleet Bank, LaSalle Bank and U.S. Trust Co. If you were charged an overdraft fee at Bank of America or one of those banks between 2000 and 2007, you may want to file a claim.

    The deadline to file a claim is May 1.

    <script type="text/javascript">adsonar_placementId=1420510;adsonar_pid=992772;adsonar_ps=-1;adsonar_zw=230;adsonar_zh=260;adsonar_jv='ads.tw.adsonar.com';</script><script language="JavaScript" src="http://js.adsonar.com/js/adsonar.js"></script><form id="qas_frm" name="qas_frm" method="get" action="" target=""><input name="ie52_mac_only" value="" type="hidden"></form><iframe name="adsonar_serve365982" id="adsonar_serve365982" marginwidth="0" marginheight="0" vspace="0" hspace="0" src="http://ads.tw.adsonar.com/adserving/getAds.jsp?previousPlacementIds=&placementId=1420510&pid=992772&ps=-1&zw=230&zh=260&url=http%3A//www.walletpop.com/blog/2009/01/27/bret-and-jemaine-should-file-claim-for-78-from-bank-of-america/&v=5&dct=Bret%20and%20Jemaine%20should%20f-%20America%20-%20WalletPop%20Blog&ref=http%3A//us.mc564.mail.yahoo.com/mc/showMessage%3Ffid%3DInbox%26sort%3Ddate%26order%3Ddown%26startMid%3D0%26.rand%3D2123552327%26da%3D0%26midIndex%3D0%26mid%3D1_406349_AFNv%252FNgAAMv5SX%252BGPwNFYlf%252FqY4%26f%3D1%26nextMid%3D1_405149_AFRv%252FNgAATvJSX91BgntGzX%252BpuI%26m%3D1_406349_AFNv%252FNgAAMv5SX%252BGPwNFYlf%252FqY4%2C1_405149_AFRv%252FNgAATvJSX91BgntGzX%252BpuI%2C1_405468_AFBv%252FNgAAEAKSX9uEwa2rUk1cOs%2C1_405766_AFNv%252FNgAATbZSX9oAwSZNhjvMJ8%2C1_406067_AFJv%252FNgAAAsJSX9dxgnsknZb4Zs%2C1_403004_AFFv%252FNgAAMg%252BSX9QFw7VRT3mUjM%2C" frameborder="0" height="260" scrolling="no" width="230"></iframe>
    Opting out of a bank's overdraft protection wasn't part of the new credit card rules that the Federal Reserve recently passed, although consumer advocates are hopeful the Fed will look into overdraft fees later this year.

    A claim form can be filled out online or printed out to mail in. A few details are needed, such as dates you were a customer and the eligible account number. You don't have to give details of specific instances when you were charged a fee. And if you don't want to send your account number, you can specify your home address at the time you believe you were charged a fee.

    And for those non "Flight of the Conchords" fans on HBO, the latest episode had Bret's purchase of a $2.79 coffee mug, leaving their checking account $2.79 short, causing a $30 overdraft fee, and thus insufficient funds to pay the electric bill, and another $30 fee for having the check bounce for the electric bill. And Bret and Jemaine had their power turned off. A good lesson to keep enough money in the checking account to avoid fees.

    Aaron Crowe is an unemployed journalist in the San Francisco Bay Area. Read about his job search at Aaron Crowe > Tales of an unemployed dad

    <object height="295" width="480">


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  2. community

    community XDTalk 5K Member Founding Member

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    will apply tomorrow. thanks.
     
  3. billbrasky

    billbrasky XDTalk 5K Member

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    if you click the link to the original link, there is a link in the text you can do it on line.



    Closson Settlement
     
  4. godseviltwin

    godseviltwin XDTalk 3K Member Founding Member

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    all i have to say is i hope you trust that site. to give them your bank account number, address, phone number and bank you use seems a little fishy online. sorry maybe i am a little paranoid.
     
  5. Joeywhat

    Joeywhat XDTalk 5K Member

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    W00T!

    Those f***ers took well over $100 from me last year, and I KNOW...I KNOW the a-holes were switching around my posting dates to f** me over. i was screamin' at my phone to the two idiots I talked to (who both had different posting dates they were looking at for my checks, different then what I saw) and they refused to do a god-damn thing.

    I'm getting my money. Once my "keep the change" money comes in they owe me I'm cancelling all my accounts.
     
  6. Joeywhat

    Joeywhat XDTalk 5K Member

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    You don't have to give them your account number. You can mail it in as well if you like.
     
  7. billbrasky

    billbrasky XDTalk 5K Member

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    i know longer have an account there i gave up on banks in 2001/2002 all credit unions from here on out.

    No one can steal money from an account i havent had in years.

    I am safe, but good for active accounts to be weary, if you have an active account i would look into it a wee bit more or go to the local branch in person etc.
     
  8. Joeywhat

    Joeywhat XDTalk 5K Member

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    I've seen 4 independent websites list the same URL for the form, so either it's legit or one of the best scams ever to hit the intrawebz. You have until May, so it wouldn't hurt to wait until March or so to see if anyone got burned.

    I doubt anyone at BoA even knows about it...and if they do they were probably told to keep quiet. Hell, I've yet to even find a BoA employee who understands how to use their computers :rolleyes:
     
  9. afmo

    afmo XDTalk 10K Member Founding Member

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    OOH might have to buy myself a 91/30 now :)

    does anyone know if its per person, or per account? Like I've got myself and the missus on the account, can we both apply?
     
  10. afmo

    afmo XDTalk 10K Member Founding Member

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    you can use your home address in lieu of your bank account number.
     
  11. Ride the Lightning

    Ride the Lightning XDTalk 2K Member

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    Holy dog poop! $368/yr in overdraft charges? No wonder the country is in trouble, nobody can manage their money. I've had $60 in charges my whole life and it was because the bank changed their terms and neglected to tell me.

    FWIW, it is normal bank procedure to run checks of higher amounts before checks of lower amount. Their logic is that the larger check is obviously more important, so it should go first. Unfortunately that usually ends up costing you 3 or 4 times as much in fees if you have other checks outstanding at the time.
     
  12. Joeywhat

    Joeywhat XDTalk 5K Member

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    This isn't just about BoA doing one check before the other...it's a matter of them charging you the OD fee EVEN when you never dipped below $0. I got burned once a few years back (I ONLY did online banking, didn't keep a balance). Then I kept a written balance as well and they screwed me even when I kept above the limit. It was even listed correctly on my online statement, but they insisted that it (and I) was wrong about the whole ordeal and that I needed to do a better job of balancing my check book (it's 3rd grade math :roll:).

    I was right, they were wrong. I checked it enough times to be sure. It's a good thing those jackasses on the other end of the phone weren't next to me, I'd probably make their ears bleed I was screaming so loud.
     
  13. billbrasky

    billbrasky XDTalk 5K Member

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    had the same thing happen to me at first federal, i had an account since i was a paper boy in the 6th grade all the way till i was 20, dropped them, then standard federal did the same thing. I even talked to a manager there that said "banks don't make mistakes". That was her exact words. At that particular bank, no less than three times, they put my money in my dads, account, just cause we have the same last name, i go by a first name nick name that is similar but different, and different middle name, and of course OUR ACCOUNTS WERE NOT MUTUAL/joint ACCOUT, and every number was different on the account. How is putting money in the wrong account on a regular basis not a "mistake"

    Banks just suck. I love my credit union.
     
  14. Joeywhat

    Joeywhat XDTalk 5K Member

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    I've been thinking about a credit union...is it pretty much just a bank that doesn't do loans or anything?

    I mean, I don't need to earn interest on anything, just need a debit card and a place to have my paycheck direct deposited. My last 100 interactions with BoA employees has been horrible at best.
     
  15. Ride the Lightning

    Ride the Lightning XDTalk 2K Member

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    I hate mine, but it's the best service I've had. I'll stick with it until something better is available. When I opened my account with them I had it setup to put $200/month in a savings account and that money was supposed to be automatically transferred in the event that I overdrafted. One month I wrote my truck payment (auto tranfer from checking) in my checkbook twice. My wife caught the mistake and fixed it, but didn't tell me. The next month I didn't write it in because I was one payment ahead in my ledger. Wrong. I paid the truck payment and several bills and it overdrafted 3 times. If they had run the truck payment last it would have only done it once. When I got the notice I called and asked WTF was going on and they told me it was overdrafted. No kidding, I could tell that from the letter. When I told her they additional money was supposed to come from savings she told me the didn't do that and never had. To bad I still had the documentation from when I opened the account that showed that they should have pulled the money from savings. They still wouldn't refund the charges though. Pissed me off.
     
  16. billbrasky

    billbrasky XDTalk 5K Member

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    hmm i imagine that is like a bank, they have loan costs. Most places, home loans included, they expect and need you to make X amount of payments. Early payments might get you penalized. Though i have never been so flush with cash and no where to put it or invest it at higher rate than my interest, that i said ohhh ill just pay off my loan 3 years early. I think thats what they did, probably in the loan ... cant say for sure, as i said, i was never in such a hurry as to make extra payments early (i realize your was an accident)
     
  17. billbrasky

    billbrasky XDTalk 5K Member

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    Yep mine Christian financial, not sure if they have west side/down river branches. but unless you need to go to the window or see a loan officer, you just could telebank.

    They have visa mastercards,

    they do car loans, i have never bought a vehicle with anyone other than them.

    They do do home loans, small business loans etc. They have all there financials on the wall in the branch. Off the top of my head a few of the colums were $50-60 million bucks this year, so i think its still small, its not 500 billion like citi bank, but its more than 100 folks pooling there money together, which i get the impression thats what some folks think a credit union is like.

    Its still FDIC guranteed savings accounts, most every feature a public traded bank like Citibank, BOA etc has.

    The people there are nicer, they call you if you have a problem, never has a problem, per se, but i have questions, i call leave a message, and a manager calls me back with the answer. No waiting in a waiting room.

    No lines, the usually have 2-3 girls working the counter (2 counter, 1 on drive though, or 1 and 1) even if you go on friday (pay day) at 5-6 pm the drive though line is but 2-3 cars, and inside they have you in and out in 5-7 minutes.

    I couldnt handle going back to a big mega bank.


    Christian Financial Credit Union

    if by any chance you are a sprint phone guy, i just got 10% off my contract, and i think i got it off my accessories andf my new phone. Thats the life of the contract, just showing them my christian financial credit card. Not sure if the other cell providers do that. But look into that, that can be 80-120 bucks right there in the bill, and $30 off a phone.
     
    Last edited: Jan 27, 2009
  18. Ride the Lightning

    Ride the Lightning XDTalk 2K Member

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    I didn't make the payment early, that was done by automatic withdrawal. I wrote it in my check ledger twice in one month, but only made the payment once. That meant my ledger showed that I had $597 less than I really had, which was fine. Then my wife fixed it without mentioning it, which meant the amount was correct. The next month I didn't write the $597 in my ledger because I thought it was still in there from before. As a result, I thought there was $597 in my account that wasn't there and I spent that nonexistent money on what were probably some trivial things and overdrafted it.

    FWIW, I did pay the truck off almost a year early as well as my boat. There was not a prepayment penalty on either of them and I wouldn't take a loan that had a prepayment penalty. That's just silly. The sooner I pay it back the sooner they can give it to someone else at higher interest.
     
  19. Ride the Lightning

    Ride the Lightning XDTalk 2K Member

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    Not all of them are FDIC insured. Some are not even federally chartered. Mine is only state chartered, but they are trying to get a federal charter. Whether it is state or federally chartered doesn't amount to anything here, but it may in other areas depending on state banking laws. That is something to check into before signing up.
     
  20. one-eyed-fatman

    one-eyed-fatman XDTalk 10K Member

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    Do you people not realize how much this stinks? Lawyers made millions so you "who got screwed" can get back 78 bucks. Blood sucking bankers sucked your blood so some blood sucking lawyers could sue them and make millions while you get 78.00 bucks back (if your lucky). So why don't they (our government) put laws in place to keep this from happening? So you can continue to get screwed so lawyers can continue to make millions. Will you people ever figure it out? Your being sucker punched by the banks, our government (who approve of this crap) and by lawyers. Now go out and vote for the (D) and (R) people who are responsible for making all this happen. :rolleyes: :roll:
     

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