FILE — Bank of America of building. (MGN, Chris Yarzab / CC BY 2.0)
Bank of America customers may be eligible to receive money after a reported million-dollar settlement was reached over excessive fees being charged.
According to a class-action lawsuit filed in California, the bank improperly charged out-of-network balance inquiry fees to customers who used FCTI-owned ATMs located in 7-Eleven stores from May 1, 2018, to Nov. 16, 2021.
The settlement website states that a $2.25 million settlement has been reached in the case, with the court scheduled to hold a final fairness hearing on Aug. 21.
Current Bank of America customers do not need to take any action to receive compensation if the settlement receives final court approval, as payments will be automatically issued, according to the settlement website.
Former customers would need to file a claim form by July 29 to receive their share of the settlement fund.
Bank of America customers who are not sure whether they qualify, or if they would like more information, have been advised to contact 833-447-8321.
Bank of America has denied any wrongdoing in the case, agreeing to a settlement in part to avoid ongoing litigation costs.