Frequently Asked Questions

  1. Why did I receive a secondary Settlement check payment?

    A secondary distribution was economically feasible with the remaining Settlement Funds. Award payments via check will be mailed to eligible class members who are current and former account holders and had previously negotiated their initial award and for whom the pro-rata share of the secondary disbursement is equal to or greater than $5.00.

    Please note that checks are expected to be mailed over a week starting March 18, 2024.

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  2. How do I request a Secondary check reissue?

    All reissue requests must be submitted in writing to the Settlement Administrator at the following address.

    EOBC Litigation
    P.O. Box 3170
    Portland, OR 97208-3170

    If the name of the Class Member on the check should be changed, please send in backup documentation with the request.

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  3. What is the impact of the appeal of the Settlement?

    Appeal Update as of October 4, 2021:

    Following the Ninth Circuit Court of Appeals Opinion affirming the district court’s Final Approval of the Settlement and its denial of the motions for rehearing filed by two of the objectors, one of the objectors filed a petition for writ of certiorari with the Supreme Court of the United States on March 23, 2021.

    On October 4, 2021, the Supreme Court denied the certiorari and is posted here. The Settlement is deemed to be effective and, therefore, distribution of settlement funds will begin in November 2021.

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  4. Why did I receive a notice directing me to this website?

    A court authorized this notice because you have a right to know about the proposed Settlement of this class action lawsuit and about all of your options, before the Court decides whether to give final approval to the Settlement. This notice explains the lawsuit, the Settlement, and the legal rights of Settlement Class Members.

    Judge M. James Lorenz, of the U.S. District Court for the Southern District of California, is overseeing this case. The case is known as Joanne Farrell v. Bank of America, N.A., Case No. 3:16-cv-00492-L-WVG. The people who sued are called “Plaintiffs.” The Defendant is BANA.

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  5. What is this lawsuit about?

    The lawsuit claims that EOBCs assessed in connection with consumer checking accounts violate the National Bank Act’s usury limit.

    The complaint in this Action is posted here. BANA denies liability. The Court has not decided which side is right.

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  6. Why is this a class action?

    In a class action, one or more people called Class Representatives (in this case, four BANA customers who were assessed EOBCs) sue on behalf of people who the Class Representatives believe have similar claims.

    All of the people who have claims similar to the Class Representatives are members of the Settlement Class, except for those who exclude themselves from the Settlement Class.

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  7. Why is there a settlement?

    The Court has not decided in favor of either the Plaintiffs or BANA. Instead, both sides agreed to the Settlement. By agreeing to the Settlement, the Parties avoid the costs and uncertainty of a trial, and Settlement Class Members receive the benefits described in this notice. The Class Representatives and their attorneys think the Settlement is best for everyone who is affected.

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  8. Who is included in the Settlement?

    If you received notice of the Settlement from a postcard or email addressed to you, then the Parties believe you are in the Settlement Class. But even if you did not receive a postcard or email with notice of the Settlement, you may still be in the Settlement Class, as described below. If you did not receive a postcard or email addressed to you but you believe you are in the Settlement Class, as defined below, you may contact the Settlement Administrator.

    The Settlement Class includes:

    All holders of BANA consumer checking accounts who, between February 25, 2014 and December 30, 2017, were assessed at least one EOBC that was not refunded.

    If this did not happen to you, you are not a member of the Settlement Class. You may contact the Settlement Administrator if you have any questions as to whether you are in the Settlement Class.

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  9. What does the Settlement provide?

    The Settlement provides that BANA will provide sixty-six million six hundred thousand dollars ($66,600,000) to settle the class action (the “Settlement Amount”). Of the Settlement Amount, BANA will pay thirty-seven million five hundred thousand dollars ($37,500,000) in cash, and BANA will provide debt reduction in an amount estimated to equal twenty-nine million one hundred thousand dollars ($29,100,000). After paying certain other costs and court-approved amounts, the cash relief will be distributed among Settlement Class Members who paid one or more EOBCs that they incurred in connection with their BANA personal checking accounts between February 25, 2014 and December 30, 2017.

    Settlement Class Members who currently hold the BANA checking accounts from which they paid EOBCs during the Class Period will have their cash awards deposited directly into their accounts. Settlement Class Members who no longer hold the BANA checking accounts from which they paid EOBCs during the Class Period will receive their cash awards via check. Each Settlement Class Member’s cash award will depend upon the number of EOBCs the Settlement Class Member paid and on the total number of Settlement Class Members. The debt relief will be provided to Settlement Class Members whose consumer checking accounts were closed in overdrawn status with an EOBC still pending and whose overdrawn balances remain due and owing to BANA. Debt relief will be provided in the form of debt reduction, in an amount up to $35, but in no event exceeding the amount of a Settlement Class Member’s overdrawn balance remaining due and owing to BANA. Debt relief will not result in any cash payments to Settlement Class Members.

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  10. What if the class member is deceased?

    Any Class Member Award paid to a deceased Class Member shall be made payable to the estate of the deceased Class Member, provided that the Class Member’s estate informs the Administrator of the Class Member’s death at least thirty (30) calendar days before the date that Class Member Award checks are mailed and provides a death certificate confirming that the Class Member is deceased. If the Class Member’s estate does not inform the Administrator of the Class Member’s death at least thirty (30) calendar days before Class Member Award checks are mailed, the deceased Class Member will be barred from receiving a Class Member Award under this Settlement.

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  11. When would I receive my monetary compensation?

    On October 4, 2021, the Supreme Court denied the certiorari and is posted here. The Settlement is deemed to be effective and, therefore, distribution of settlement funds will begin in November 2021.

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  12. What am I giving up to stay in the Settlement Class and receive monetary compensation?

    The deadline to request exclusion from the settlement was April 20, 2018 and has passed.

    If the Settlement is finally approved, each Settlement Class Member who did not exclude himself or herself from the Settlement Class pursuant to the procedures set forth in the Settlement Agreement releases, waives, and forever discharges BANA and each of its present, former, and future parents, predecessors, successors, assigns, assignees, affiliates, conservators, divisions, departments, subdivisions, owners, partners, principals, trustees, creditors, shareholders, joint ventures, co-venturers, officers, and directors (whether acting in such capacity or individually), attorneys, vendors, accountants, nominees, agents (alleged, apparent, or actual), representatives, employees, managers, administrators, and each person or entity acting or purporting to act for them or on their behalf, including, but not limited to, Bank of America Corporation and all of its subsidiaries and affiliates (collectively, “BANA Releasees”) from any and all claims they have or may have against the BANA Releasees with respect to the assessment of EOBCs as well as (i) any claim or issue which was or could have been brought relating to EOBCs against any of the BANA Releasees in the Action and (ii) any claim that any other overdraft charge imposed by BANA during the Class Period, including but not limited to EOBCs and initial overdraft fees, constitutes usurious interest, in all cases including any and all claims for damages, injunctive relief, interest, attorney fees, and litigation expenses (“Released BANA Claims”).

    Each Settlement Class Member who did not exclude himself or herself from the Settlement Class will also be bound by all of the decisions by the Court. Section 2.3 of the Settlement Agreement describes the precise legal claims that you give up if you remain in the Settlement. The Settlement Agreement is available here.

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  13. How do I exclude myself from the Settlement?

    The deadline to request exclusion from the settlement was April 20, 2018 and has passed.

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  14. If I do not exclude myself, can I sue BANA for the same thing later?

    No. Unless you excluded yourself, you gave up the right to sue BANA for the claims that the Settlement resolves. You must have excluded yourself from this Settlement Class in order to try to pursue your own lawsuit.

    The deadline to request exclusion from the settlement was April 20, 2018 and has passed.

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  15. If I exclude myself, can I still receive payment, account credit, or debt reduction?

    No. You will not receive a cash payment, account credit and/or debt reduction if you excluded yourself from the Settlement.

    The deadline to request exclusion from the settlement was April 20, 2018 and has passed.

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  16. Do I have a lawyer in this case?

    The Court has appointed lawyers to represent you and others in the Settlement Class as “Class Counsel”.

    Class Counsel
    Hassan Zavareei
    Tycko & Zavareei LLP
    1828 L St. NW
    Suite 1000
    Washington, DC 20036
    Jeff Ostrow
    Kopelowitz Ostrow P.A.
    1 West Las Olas Blvd.
    Suite 500
    Fort Lauderdale, FL 33301
    Bryan Gowdy
    Creed & Gowdy, P.A.
    865 May Street
    Jacksonville, FL 32204
    Cristina Pierson
    John R. Hargrove
    Kelley Uustal PC
    500 North Federal Highway
    Suite 200
    Fort Lauderdale, FL 33301

    Class Counsel will represent you and others in the Settlement Class. You will not be charged for these lawyers. If you want to be represented by your own lawyer, you may hire one at your own expense.

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  17. How will Class Counsel and the Class Representative be paid?

    Class Counsel may request up to twenty-five percent (25%) of the Settlement Value for attorneys’ fees, plus reimbursement of their expenses incurred in connection with prosecuting this case. The fees and expenses awarded by the Court will be paid out of the Cash Settlement Amount, as that term is defined in the Settlement Agreement. The Court will determine the amount of fees and expenses to award. Class Counsel may also request awards of up to $5,000.00 for each Class Representative to be paid from the Cash Settlement Amount for their service to the entire Settlement Class.

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  18. How do I tell the Court I do not like the Settlement?

    The deadline to object to the settlement was April 20, 2018 and has passed.

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  19. What is the difference between objecting and excluding myself?

    Objecting is telling the Court that you do not like something about the Settlement. You can object to the Settlement only if you do not exclude yourself from the Settlement. Excluding yourself from the Settlement is telling the Court that you don’t want to be part of the Settlement. If you exclude yourself from the Settlement, you have no basis to object to the Settlement because it no longer affects you.

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  20. When and where will the Court decide whether to approve the Settlement?

    Following the Ninth Circuit Court of Appeals Opinion affirming the district court’s Final Approval of the Settlement and its denial of the motions for rehearing filed by two of the objectors, one of the objectors filed a petition for writ of certiorari with the Supreme Court of the United States on March 23, 2021.

    On October 4, 2021, the Supreme Court denied the certiorari and is posted here. The Settlement is deemed to be effective and, therefore, distribution of settlement funds will begin in November 2021.

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  21. Do I have to come to the hearing?

    The Court already held the Final Approval Hearing on June 18, 2018. You did not need to attend the hearing.

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  22. May I speak at the hearing?

    The Court already held the Final Approval Hearing on June 18, 2018.

    Class members were allowed to speak at the Final Approval Hearing if they had filed and served a timely objection to the Settlement according to the procedures.

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  23. What happens if I do nothing at all?

    If you do nothing, you will still receive the benefits to which you are entitled. Unless you excluded yourself, you will not be able to start a lawsuit, continue with a lawsuit, or be part of any other lawsuit against BANA relating to the legal issues in this case or the conduct alleged in the complaint.

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  24. Are there more details about the Settlement?

    This website is a summary of the Settlement. More details can be found in the Settlement Agreement. You may also write with questions to EOBC Litigation, P.O. Box 3170, Portland, OR 97208-3170, or call the toll-free number, 1-888-396-9598. However, in lieu of doing so at this time, it is requested that you refer to the information provided on this website on the pending appeal impacting completion of the Settlement. The Settlement Administrator is unable to provide any additional oral or written information to Settlement Class Members until the appeal concludes.

    DO NOT CONTACT BANA OR THE COURT FOR INFORMATION.

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