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|Bank of America Credit Protection Class Action Settlement|
- Monday, 29 October 2012 12:10
Bank of America Credit Protection Class Action Settlement
By Sarah Pierce
Details on how to file a claim for the $20 million Bank of America credit protection class action lawsuit settlement have arrived. If you signed up for a credit protection plan from Bank of America between 2006 and 2012, you may be eligible to receive a cash payment of $50 or $100 from the BofA credit protection class action settlement.
The Bank of America credit protection settlement will resolve numerous class action lawsuits filed across the country in 2010 that accused Bank of America Corp. and FIA Card Services, N.A. of using deceptive marketing tactics to sign up and charge credit card customers for a number of useless credit-protection services. The cases were consolidated into a single class action lawsuit, titled In Re: Bank of America Credit Protection Marketing & Sales Practices Litigation, which specifically alleges that the defendants enrolled customers in credit protection services through deceptive marketing, charged them for services without authorization, and improperly denied them benefits and/or gave them nothing meaningful in return for the monthly fees they were charged.
Bank of America and FIA Card Services deny any wrongdoing, but have agreed to a $20 million class action lawsuit settlement to resolve the litigation.
Class Members of the Bank of America credit protection class action settlement include all people in the United States who were enrolled in one of the following credit protection programs issued by FIA Cards Services, a subsidiary of Bank of America, between January 1, 2006 and July 17, 2012:
Credit Protection Plus
Cardholder Security Plan
Credit Protection Plan
Credit Protection Deluxe
Credit Protection Fleet
For clarification purposes, the Settlement Class includes customers who originally enrolled in a Credit Protection program prior to January 1, 2006, but remained enrolled at any time on or after January 1, 2006.
As a Class Member, you’re entitled to one of the following class action settlement benefits:
(1) If you attempted to claim Credit Protection benefits but were improperly denied these benefits, you will receive approximately $100.
(2) If you were not denied benefits, but believe that you were involuntarily enrolled in credit protection or that the benefits of credit protection were not as advertised, you will receive approximately $50.
These reward amounts may be more or less, depending on how many people file eligible claims.
The ONLY way to receive a cash payment from the Bank of America credit protection settlement is to submit a valid Claim Form either online at www.CreditProtectionSettlement.com or mailed to the Settlement Administrator postmarked no later than February 26, 2013.
Claim Forms and more information on your rights in the Bank of America Credit Protection Class Action Lawsuit Settlement can be found at www.CreditProtectionSettlement.com. Detailed instructions on how to file a valid claim can be found in our Open Lawsuit Settlements section.
Updated November 2nd, 2012
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Last Updated on Thursday, 27 December 2012 11:09