Introduction
Aseltine v Bana Class Settlement 1-833-522-3647 hey there! If you’ve ever had a Bank of America (BANA) account and noticed unexpected charges for incoming wire transfers between March 8, 2019, and August 31, 2023, you’re not alone. A class action lawsuit, Aseltine v Bana Class Settlement 1-833-522-3647, uncovered that BANA had been charging customers undisclosed fees for these transactions. To make things right, BANA agreed to a $21 million settlement. Let’s dive into the nitty-gritty of this settlement and what it means for you.
Table of Contents
- Background of the Settlement
- Who Is Eligible?
- Settlement Amount and Distribution
- Important Dates to Remember
- How to File a Claim
- Opting Out or Objecting
- FAQs
- Conclusion
Background of the Settlement
In April 2023, Aaron Aseltine v Bana Class Settlement 1-833-522-3647 filed a lawsuit against Bank of America, alleging that the bank improperly charged customers a $15 fee for incoming wire transfers without proper disclosure. This practice was deemed a violation of the account agreements and state consumer protection laws. After months of legal proceedings, both parties agreed to a $21 million settlement to resolve these claims.
Who Is Eligible?
If you had a consumer checking or savings account with Bank of America and were charged an incoming wire transfer fee between March 8, 2019, and August 31, 2023, you might be eligible for a payout. This includes current and former account holders who paid these fees and were not refunded.
Settlement Amount and Distribution
Bank of America has set up a $21 million Settlement Fund to compensate affected customers. After deducting attorneys’ fees, costs, and service awards, the remaining funds will be distributed to eligible class members. Payments will be proportional to the amount each person paid in incoming wire transfer fees during the settlement period. Current account holders will receive their share as a credit to their Bank of America accounts, while former account holders will get a check by mail.
Important Dates to Remember
- Opt-Out and Objection Deadline: November 9, 2024
- Final Approval Hearing: December 9, 2024
These dates have passed, so if you didn’t opt out or object, you’re likely included in the settlement.
How to File a Claim
Good news! If you received a notice about the settlement, you don’t need to do anything to get your share. The settlement administrator has already identified eligible class members based on BANA’s records. Payments are being processed automatically.
Opting Out or Objecting
If you chose to opt out of the settlement or object to its terms, you should have submitted your request by November 9, 2024. Since that deadline has passed, those options are no longer available.
FAQs
Q1: How do I know if I’m part of the settlement?
If you received a notice via email or mail, you’re included. If not, you can contact the settlement administrator to check.
Q2: When will I receive my payment?
Payments are being processed and should arrive soon. Current account holders will get credits, and former account holders will receive checks by mail.
Q3: Who can I contact for more information?
You can reach the settlement administrator at:
- Phone: (833) 522-3647
- Mail: Aaron Aseltine v Bana Class Settlement 1-833-522-3647, N.A. c/o Kroll Settlement Administration LLC PO Box 225391 New York, NY 10150-5391
Conclusion
The Aseltine v Bana Class Settlement 1-833-522-3647 serves as a reminder to always review your bank statements and be aware of potential fees. While the settlement has concluded, it’s crucial to stay informed about your financial transactions to avoid unexpected charges in the future.
