By Samuel Gonzalez
Thousands of Bank of The USA clients could receive money in the United States for a new class action lawsuit related to charges made at ATMs inside 7-Eleven stores. The agreement would benefit both current users and former clients of the bank who paid commissions that are now being questioned in court.
The lawsuit accuses Bank of The USA of charging improper fees to debit card users when they made balance inquiries at certain ATMs operated inside 7-Eleven stores. According to the case, some clients ended up paying more than one fee for a single balance inquiry at ATMs belonging to the FCTI company.
The economic agreement reaches $2.25 million dollarsalthough the bank did not admit to having committed irregularities. Even so, it agreed to resolve the case through payments to affected consumers.
To qualify, the individuals must have made the transactions between May 1, 2018 and November 16, 2021. Additionally, those who already participated and received money in the previous class action lawsuit known as Weiss v. FCTI will not be able to be part of this new agreement.
Who can receive money?
There are two groups of people included in this judicial agreement: The first corresponds to clients who still have an active account at Bank of The USA; the second includes former users who closed their account after receiving the disputed charges.
Current clients will not have to go through paperwork to get the money. If the agreement receives final approval by the court, the case manager will automatically send the corresponding payments.
Instead, Former clients must complete a claim form to receive money. The application can be submitted online or by traditional mail, but must be submitted before July 29.
Many eligible former clients have already begun receiving email notices or physical letters informing them of their potential participation in the settlement.
Why did the lawsuit start?
The current dispute revolves around alleged duplicate charges related to balance inquiries at ATMs outside of Bank of The USA’s banking network. The plaintiffs maintain that these fees violated the deposit account agreement signed between the bank and its customers..
According to the lawsuit, a single balance inquiry generated more than one charge at some ATMs located inside 7-Eleven storessomething that affected consumers for several years.
Although It has not been reported how much money each person will receiveall approved members of the lawsuit will be entitled to a cash payment from the settlement fund.
Important dates you should know
People who want to opt out of the agreement or file objections must do so before July 7. Subsequently, The court will hold an impartiality hearing on August 21where it will review whether the agreement will be definitively approved.
Payments will not be sent immediately. The agreement administrator explained that money will begin to be distributed once the court grants final approval and possible appeals are resolved.
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