Reuter’s Reports: “B of A to Pay $410 million to Settle Over Draft Lawsuit”


A number of national banks have been facing class-action lawsuits for allegedly misusing over draft fees on checking accounts to generate hundreds of millions of dollars in extra revenues. The way the Banks have achieved this is by reorganizing debits from debit cards by the size of the transaction as opposed to in date order and also denying customers the option of turning the transaction down and then charging large fees for the overdrafts.

Reuters reports that Bank of America has agreed to pay $410 million to settle a class-action lawsuit that has been pending for a number of years which makes these very allegations. To read the full article click here.

Our Woodstock, Illinois consumer rights private law firm handles individual and class action predatory lending, unfair debt collection, lemon law and other consumer fraud cases that government agencies and public interest law firms such as the Illinois Attorney General may not pursue. Class action lawsuits our law firm has been involved in or spear-headed have led to substantial awards totalling over a million dollars to organizations including the National Association of Consumer Advocates, the National Consumer Law Center, and local law school consumer programs. The Chicago consumer rights attorneys at Lubin Austermuehle are proud of our achievements in assisting national and local consumer rights organizations obtain the funds needed to ensure that consumers are protected and informed of their rights. By standing up to consumer fraud and consumer rip-offs, and in the right case filing consumer protection lawsuits and class-actions you too can help ensure that other consumers’ rights are protected from consumer rip-offs and unscrupulous or dishonest practices.

Our Bannockburn, Lincolnshire and Deerfield consumer attorneys provide assistance in fair debt collection, consumer fraud and consumer rights cases including in Illinois and throughout the country. You can click here to see a description of the some of the many individual and class-action consumer cases our Chicago consumer lawyers have handled. A video of our lawsuit which helped ensure more fan friendly security at Wrigley Field can be found here.

Our Chicago and Oak Brook class action attorneys have acted as lead counsel in class action lawsuits for over a decade and half. Our Chicago class action lawyers have been selected by Super Lawyers as some of the top class action attorneys in Illinois. You can contact one of our Chicago consumer protection attorneys who can assist in consumer fraud, consumer rip-off, lemon law, unfair debt collection, predatory lending, wage claims, unpaid overtime and other consumer, or consumer class action cases by filling out the contact form at the side of this blog or by clicking here.

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