Compensation of up to $500 for Bank of America customers: who qualifies and how to request it
Bank of America has agreed to compensate some of its customers in Florida. They could be eligible to receive around $500. Here all the details.
In some cases where several people are affected by the actions of a company or the products and services do not meet those established by a brand, a class action lawsuit can be filed.
This refers to a legal action filed by a group of people who have suffered common damages. This is the case of Bank of America, which, after a class action lawsuit, has reached an agreement to pay $500,000 to those affected by the bank’s actions.
Why was Bank of America sued?
The financial institution accepted the half-million-dollar settlement to resolve claims that it violated the Florida Consumer Collection Practices Act (FCCPA) by sending late-night debt collection messages to account holders.
According to Top Class Actions, the plaintiffs claim that Bank of America sent messages between 9:00 p.m. and 8:00 a.m. in their local time zone regarding their consumer accounts since April 22, 2020, which is prohibited by the FCCPA.
This law prohibits communicating with a debtor between the hours of 9:00 p.m. and 8 a.m. in the eastern time zone without your prior consent.
Following the lawsuit, Bank of America did not admit any wrongdoing, but reached a $500,000 settlement. Exact payments will vary depending on the number of claims filed, but class members can receive up to $500.
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Who qualifies to receive $500 from Bank of America?
The Bank of America settlement benefits Florida residents who received a message, call or other communication from Bank of America between 9:00 p.m. and 8:00 a.m. in their local time zone regarding their consumer account since April 22, 2020.
To receive a payment, eligible customers must submit a valid claim form by January 26, 2024. The form can be found here.