Bank of America is set to settle a $21 million lawsuit against consumers who paid wire transfer fees, alleging violations of account agreements.
Bank of America has settled a class action lawsuit alleging that it violated its account agreements by charging a hidden $15 fee on incoming wire transfers between March 8, 2019, and Aug. 31, 2023, without consent or notice, benefiting individuals with consumer checking or savings accounts.
Despite denying any wrongdoing, Bank of America has agreed to pay $21 million to settle a lawsuit alleging it charged a hidden $15 fee on incoming wire transfers.
The Bank of America settlement allows class members to receive a proportional share of the settlement fund based on wire transfer fees paid. Current account holders will receive their share as a credit to their Bank of America accounts, while class members without an active account will accept payment in the form of a mailed check.
Bank of America $21M Settlement Eligibility
Bank of America charged certain wire transfer fees on incoming payments between March 8, 2019, and August 31, 2023, for individuals with consumer checking or savings accounts.
Settlement Details
- Class members will receive a proportional share of the settlement fund based on the wire transfer fees they paid.
Mode Of Payment
Payments will be credited directly to current Bank of America accounts, while payments for former account holders will be made via mailed checks.
Important Dates
- Exclusion and Objection Deadline: September 21, 2024.
- Final Approval Hearing: October 21, 2024.
Case Information
- Aseltine v. Bank of America NA, Case No. 3:23-cv-00235-MOC-WCM, in the U.S. District Court for the Western District of North Carolina
Settlement Administration
- Official Website:banawiretransferfeesettlement.com
- Aaron Aseltine v. Bank of America, N.A.
c/o Kroll Settlement Administration LLC
PO Box 225391
New York, NY 10150-5391
833-522-3647
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