If you were charged excessive interest on military service accounts or if you received or were eligible to receive additional compensation related to military reduced interest rates from Bank of America at any time on or after Sept. 11, 2001, you may be eligible for a potential award from the Bank of America Military Member Fee Class Action Lawsuit! According to the lawsuit, Bank of America had allegedly charged thousands of military service member family customers excessive interest on mortgage accounts, credit card accounts, and other interest-bearing obligations as well as attempted to conceal these excessive charges which violates the Service members Civil Relief Act, the Truth in Lending Act and North Carolina’s Unfair and Deceptive Trade Practices Act. Bank of America denies the allegations but has agreed to settle the lawsuit to avoid the burden and expense of ongoing litigation. If you’re eligible, submit a claim form to receive your potential award!
Bank of America Military Member Fee CAL:
- Bank of America Military Member Fee Claim Form
- Claim Form Deadline: None Listed
- Who’s Eligible: Anyone who, identified in Bank of America’s records as obligors or guarantors of an obligation or account that, at any time on or after September 11, 2001, received and/or may have been eligible to receive additional compensation related to military reduced interest rate benefits from Defendant, but excluding persons who have executed a release of rights claimed in this action.
- Estimated Amount: Varies
- Proof of Purchase: None Listed
- Case Name & Number: Childress v. Bank of America NA, Case No. 5:15-cv-00231, in the U.S. District Court for the Eastern District of North Carolina
How to File a Claim:
- Head on over to the Bank of America Military Member Fee Claim Form.
- Read over the claim form to see if you are eligible.
- Complete the claim form with your info.
- Submit your claim form to receive your potential award!
Bottom Line:
Did you serve in the United States Military and are with Bank of America? If so you may be eligible for a potential award from the Bank of America Military Member Fee Class Action Lawsuit. According to the lawsuit, Bank of America had allegedly violated the Servicemembers Civil Relief Act, the Truth in Lending Act and North Carolina’s Unfair and Deceptive Trade Practices Act as well as failed to honor the active duty status of America’s fighting forces by charging an unlawfully high interest rate on the debts of service members while they were abroad serving as well as allowing these unlawful interest charges to improperly inflate service members principal balances and deprive plaintiffs of equity in their homes. If you are or were serving in the United States Military and banked with Bank of America, you may be eligible for a potential award! Don’t forget to take a look at our full list of Class Action Lawsuit Settlements!
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