Bank of America EFTA Banking Settlement

The notice concerns denied claims involving unauthorized electronic fund transfers. It does not say that every denied debit-card or ATM transaction automatically qualifies; the person must have submitted a dispute or claim to Bank of America, and Bank of America must have denied that claim during the stated period.

• You may be in the Settlement Class if you made a dispute or claim to Bank of America about an unauthorized electronic fund transfer involving a debit card or ATM transaction, and Bank of America denied it between May 6, 2023, and July 14, 2026.
• Receiving a postcard or email notice means the parties believe you may be included, but the class definition is what controls.

A payment or account credit depends on submitting a timely, valid Claim Form and on the Court approving the settlement. The notice does not state what any one person will receive.

• The settlement fund is $2 million.
• There is no fixed payment amount. Valid claimants will share what remains of the fund in equal pro rata shares.
• The fund also pays notice and administration costs, any court-approved attorneys’ fees and expenses, and any court-approved service award to the named plaintiff. Those amounts reduce what is available for class-member payments or account credits.

Submitting a claim is necessary for a payment or account credit. The notice says a claim must be timely and valid.

• Submit a Claim Form online or by mail.
• For a mailed claim, the notice says to sign the Claim Form received in the mail and send it to the Settlement Administrator. It must be postmarked by December 11, 2026.
• For an online claim, enter the Unique ID from the postcard or email notice. It must be submitted by 11:59 p.m. EST on December 11, 2026.
• You can call the Settlement Administrator to request a Claim Form if needed.

Because this notice does not describe supporting-document requirements, it does not establish whether documents will be required to make a claim valid.

• The notice requires a timely, valid Claim Form for a payment or account credit.
• It explains that a mailed form is signed and that an online form uses a Unique ID.
• The notice does not say whether documents about the disputed transaction or a monetary loss must be submitted with the Claim Form.

This is a prospective change to Bank of America’s denial communications. The notice does not state that it gives each current class member an additional payment or a new individual notice.

• Bank of America agreed to change the written communications it sends when it denies claims of unauthorized electronic fund transfers involving debit cards or ATMs.
• The notice does not describe the exact wording or scope of those changes.

The released claims include claims for statutory damages or injunctive relief related to the conduct during the class period that was or could have been alleged in this case. Except for Plaintiff Layne, the release does not include actual-damages claims based on or related to an allegedly improper denial of an unauthorized debit-card or ATM transfer claim.

• If you do nothing and the settlement becomes final, you will not receive a payment or account credit.
• You will remain in the Settlement Class unless you properly exclude yourself.
• Remaining in the class means giving up the released claims against Bank of America.

Opting out means leaving the settlement. It is different from objecting: a person who objects stays in the settlement and remains bound if it is approved.

• To leave the settlement, mail a written request for exclusion postmarked by November 30, 2026.
• The request must identify the case, give your name and address, state that you want to be excluded, and include your signature.
• If you exclude yourself, you will not receive a settlement payment or credit, but you keep the right to bring your own case about the released claims.
• For a joint account, if one accountholder opts out, all accountholders on that account are treated as opted out for that account and none may receive a payment or credit under the settlement.

A passed claim deadline alone does not establish that payments will be sent. Payment timing depends on Court approval and the settlement becoming final.

• The Final Approval Hearing date has not yet been set.
• The Court must approve the settlement before benefits can be provided.
• The notice does not give a date for payment or account credits and says it does not know how long the Court’s decisions will take.