Bank of America nears settlement in class-action case over unexpected customer fees [Yahoo! Finance]
Bank of America Corporation (BAC)
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Source: Yahoo! Finance
Plaintiffs claimed they were unaware of a $15 fee to have money sent to their accounts through the Charlotte-based bank. Lawyers for the account holders and the bank filed a pending joint notice for a settlement and stipulation with the U.S. District Court of Western North Carolina on April 11. A judge told the parties to file a motion for preliminary approval of the settlement by May 24. The details of the proposed settlement were not detailed in public court filings yet. The complaint was originally filed in Mecklenburg County Superior Court in March 2023 by California resident Aaron Aseltine before it was transferred to federal court in April 2023 for jurisdiction reasons. About the case Lawyers working for Aseltine and other plaintiffs said Bank of America misled customers and hid charges for incoming wire transfers for personal account holders by tacking on “junk” fees, which were unavoidable. Account holders like Aseltine were surprised to see hefty fees for money w
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BAC
Earnings
- 4/16/24 - Beat
BAC
Sec Filings
- 5/15/24 - Form 13F-HR
- 5/10/24 - Form 8-K
- 5/10/24 - Form 424B2
- BAC's page on the SEC website