'Free' money available from BofA
Posted
Jan 22 2009, 03:41 PM
by
Karen Datko
Rating:
Bank of America customers, here's some good news for you: If you paid an overdraft or over-limit fee after using a BofA debit card in recent years, you may be able to apply for $78.
The proposed lawsuit settlement, reported by TopClassActions.com, covers a time period from Dec. 6, 2000, to Dec. 31, 2007. It may also apply to customers of several other banks.
Other details:
At the rate these class-action settlements are coming out -- covering things like diamonds, overseas credit card transactions, cosmetics and ring tones -- you could almost consider them a source of passive income.
The BofA lawsuit alleged that it "encouraged its customers to use Bank of America debit cards and increased the number of fees charged to customers using Bank of America debit cards through the order in which such transactions are posted and the account balance information it provides," according to the settlement Web site. Translation: It charged overdraft and over-limit fees that it shouldn't have. The bank did not admit to wrongdoing in the proposed settlement.
To be eligible for up to $78, you must submit a claim by May 9. TopClassActions.com says the online form takes no more than two minutes to complete. First, determine your eligibility by reading this .pdf file.
Free cosmetics update: On Jan. 20, shoppers lined up at many department stores for free cosmetics made available because of another class-action suit. The one-item-per-customer distribution will last through Jan. 26 but end earlier if supplies run out, which has most likely happened at many locations. Call the store first before you make a wasted trip.
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