$2.85M Bank of America EIPA class action settlement

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Max Payout

TBD

Filing Deadline

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Bank of America has agreed to pay $2.85 million to settle a class action lawsuit alleging the bank violated New York's Exempt Income Protection Act (EIPA). The lawsuit claims Bank of America improperly charged fees on bank accounts that were subject to attachment or garnishment proceedings. The Exempt Income Protection Act is designed to protect certain types of income from creditors, including Social Security benefits, unemployment benefits, and other exempt funds. If you had a Bank of America account in New York that was garnished or attached, and the bank charged you fees despite having exempt income, you may be eligible for compensation from this settlement.

Who Is Eligible?

You may be eligible to file a claim if you:

Had a Bank of America account in New York
Your account was subject to attachment or garnishment proceedings
Bank of America charged you fees on an account containing exempt income protected under New York's EIPA
The fees were charged in violation of the Exempt Income Protection Act

How Much Can You Get?

The total settlement fund is $2.85 million, which will be distributed among eligible class members. The exact amount each person receives will depend on the number of valid claims filed and the specific circumstances of each case, including the amount of fees charged and other factors determined by the settlement terms.

How to File Your Claim

Filing your claim is quick and easy:

Gather documentation of your Bank of America account and any fees charged
Collect records showing your account was subject to garnishment or attachment
Document any exempt income that was in the account (Social Security, unemployment, etc.)
Wait for official claim filing instructions to be announced
Download Class Action Buddy to get notified when the claim form becomes available and receive help filing your claim

Frequently Asked Questions

What is New York's Exempt Income Protection Act?

The Exempt Income Protection Act (EIPA) protects certain types of income from creditors, including Social Security benefits, unemployment compensation, and other government benefits. Banks cannot charge fees on accounts containing these protected funds when they're subject to garnishment.

How much can I get from the Bank of America EIPA settlement?

The total settlement is $2.85 million. Individual payouts will depend on how many people file valid claims and the specific fees you were charged. Details about payout amounts are still pending.

When is the deadline to file a Bank of America EIPA claim?

The filing deadline has not been announced yet. Settlement details are still being finalized. Download Class Action Buddy to get notified as soon as the claim form and deadline are available.

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