Bank of America paying $35 million for overdraft sins
January 26, 2009 | personal finance | Comments (0)Bank of America has settled a class action lawsuit totaling $35 million for predatory overdraft policies between 2000 and 2007. If you were a customer at that time, you can claim your $78 here. Unfortunately that comes no where near the $368 per year the average household pays in overdraft fees. For those doing the math at home, that means if you were a Bank of America customer for the entire 7 year period of the class, you likely paid them an average of $2,576 and they’re kindly throwing $78 (or about 3%) of your money back at you.
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