Business

Bank of America settles lawsuit over overdrafts

Tuesday, November 08, 2011
Bank of America sign

(AP Photo)

If you're a Bank of America customer, you may have some money coming to you thanks to a class action lawsuit.

A federal judge in Miami has approved a $410 million settlement to be split among 13 million current and former Bank of America customers who used debit cards over the past decade.

The lawsuit was over excessive overdraft fees. The suit claimed the bank processed its debit card and check payments in a way that triggered overdrafts.

Most people will recover only a fraction of what they paid.

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bank of america, business
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