Class Action Lawsuits Against Bank of America Your Share 1

Class Action Lawsuits Against Bank of America: Your Share

Class Action Lawsuits Against Bank of America: Your Share

Big news for Bank of America customers! The bank is in hot water over its auto bill pay program. A new lawsuit says the bank didn’t tell people vital information about how the program works, which could have hurt many people using Bank of America credit cards.

What’s the Big Deal?

Potter Handy LLP, a law firm, is suing Bank of America. They say the bank didn’t warn people that if they don’t use their credit cards, their auto bill pay might stop working. This could cause people to miss payments and mess up their credit scores.

The lawsuit wants Bank of America to:

  • Give money back to people who got hurt
  • Stop doing these unfair things
  • Pay for other damages

Are You Affected?

You might be part of this lawsuit if:

  • You have a Bank of America credit card
  • You’ve had problems with auto bill pay
  • You missed payments because of this
  • Your credit score went down

If this sounds like you, you could join the lawsuit and maybe get some money.

What Did Bank of America Do Wrong?

The lawsuit says Bank of America:

  1. Didn’t tell people how auto bill pay works
  2. Didn’t warn that not using your card could stop auto-pay
  3. Caused people to miss payments
  4. Hurt people’s credit scores
  5. Made money unfairly

Why This Matters?

If the lawsuit is right, Bank of America wasn’t playing fair. This could have cost people money and hurt their credit. That’s a big deal because good credit is essential for many things, like getting loans or renting a house.

What’s Next?

If you think Bank of America’s auto bill pay hurt you, you can take action. The lawyers at Potter Handy LLP want to help. They’re fighting to make things right for people like you.

Don’t wait too long! You might have a time limit to join the lawsuit. If you think you were affected, it’s a good idea to talk to a lawyer soon.

Other Bank of America Problems:

This isn’t the only issue Bank of America is facing. Let’s look at some other significant problems:

COVID-19 Fee Refund Trouble:

Bank of America is also in trouble for not giving back fees like they promised during COVID-19. Here’s what happened:

  • The bank said it would help customers by giving back overdraft fees.
  • They called this the “Client Assistance Program.”
  • However, they stopped the program on August 31, 2020.
  • The bank didn’t tell people they stopped it.
  • Customers kept thinking they could get fees back.

A judge named Yvonne Gonzalez Rogers says the bank has to face a lawsuit. She thinks the bank might have tricked people by not telling them the program was over.

Some customers say they lost hundreds of dollars because of this. They thought paying overdraft fees was better than borrowing money from family or getting loans. Now they’re mad because the bank won’t give the money back.

More Money Troubles:

Bank of America is in even more hot water. The government says the bank did some bad things:

  1. The bank has to pay a fine of $250 million to the government.
  2. They have to give $80.5 million back to customers they hurt.
  3. They might have to pay another $25 million to trick people into credit cards.
  4. There’s $8 million more to pay lawyers and other costs.

The government agency that watches out for customers (the CFPB) says Bank of America charged people too much money from 2018 to 2022 and didn’t give enough information about their bank accounts.

Getting Money Back:

If you’re one of the people Bank of America hurt, you might get some money back. Here’s what you need to know:

  • The bank will start paying people back soon.
  • Most people should get their money by the end of 2024.
  • You don’t have to do anything if you’re already part of the lawsuit.
  • The bank will put money in your savings account.
  • You must tell them if you want the money in a different account.

What to Do Now?

If you think Bank of America tricked you or charged you too much, here’s what you can do:

  1. Keep an eye out for news about the lawsuits.
  2. Check if you’re part of the group that can get money back.
  3. Talk to a lawyer if you’re not sure what to do.
  4. Keep any papers that show how the bank hurt you.
  5. Be patient – it might take a while to get your money.

Bank of America is in big trouble for not being fair to its customers. From auto bill pay problems to breaking promises about COVID-19 help, the bank has a lot to answer for. Stay alert and know your rights if you’re a Bank of America customer. You might be able to get some money back if the bank mistreated you.

Remember, banks should help us, not hurt us. It’s good that people are fighting back and ensuring banks play by the rules. Keep watching for more news about these lawsuits – they could affect many people!