Publication Date:
Sun, 2011-02-06 05:35
A spokeswoman for the largest US bank said Saturday that it is “pleased to reach a fair resolution” to the case.
Spokeswoman Anne Pace said B of A also already has addressed many related customer concerns.
Customers pay overdraft fees when they spend more money than remains in their accounts. The fees can reach $35 apiece and have been a sore point with consumers.
Before federal law changed this summer, banks frequently charged overdraft fees on numerous transactions in a single day.
Similar lawsuits have been filed against other US banks, including a California case where Wells Fargo has appealed a $203 million judgment.
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