American Banker

BofA Settles Overdraft Fee Suit for $410 Million

More than 13 million Bank of America debit-card customers could see some repayment for excessive overdraft fees the bank charged them over the course of a decade. A federal judge has approved a $410 million settlement to compensate customers who were charged fees as a result of the bank posting transactions from highest to lowest dollar amount, rather than in the order they occurred.