Bank of America customer asks federal judge to approve $8M settlement with bank over two fees for single bad check
G. Edward Johnson, CC BY 4.0 , via Wikimedia Commons
Bank of America customer asks federal judge to approve $8M settlement with bank over two fees for single bad check

Bank of America customer Steven Checchia has filed a motion asking a Pennsylvania federal judge to grant preliminary approval of Bank of America’s USD 8 million settlement.

Bank of America agreed to pay USD 8 million regarding alleged claims that its customers received two separate fees for a single bad check. Additionally, Bank of America agreed to “continue its cessation of assessing the Class Fees for a period of at least five years.

Checchia informed US District Court for the Eastern District of Pennsylvania Judge R. Barclay Surrick on Thursday that “the total value of the Settlement is outstanding when considering the common fund and the intangible benefit of BANA’s [Bank of America, NA] five-year cessation of the practice of charging the Class Fees.” The settlement, he said, meets the criteria for preliminary approval required by Rule 23(e)(2) because the class is adequately represented, the settlement “is a product of arm’s length negotiations,” the class relief is adequate, and the class members are treated equally by the settlement.