Bank of America to settle at $75 million in the lawsuit against them
As court papers give a piece of very substantial evidence, Bank of America has been allegedly drawing out overdraft fees they were never owed from their customer’s savings and checking accounts.
The bank was first offered the preliminary settlement on Wednesday, at the Federal Court in Charlotte, North Carolina. It now waits for approval from the Judge. The offer put forth by the plaintiff’s lawyers is $75 Billion.
Many customers come forward with their complaints stating the many ways banks extracted more than what was necessary during certain procedures, in the name of ‘insufficient funds or overdrafts on single transactions’.
