Court Approves $410 Million Settlement in BofA Overdraft Fees Case

Earlier this week, U.S. District Court Judge James Lawrence King has granted final approval to a $410 million settlement in the multi-district litigation against Bank of America for collecting excessive overdraft fees. The complaint charged that Bank of America processed debit card transactions in order of highest to lowest dollar amount to maximize the number of overdraft fees assessed to its customers. [Read more…]