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Bank of America may offer "free checking" to some customers then charge an "Account Maintenance Fee."
Investigation Source
- Nationwide
Investigation Scope
Category Information
Investigation Topics
- Misrepresentation
- Excessive or Unauthorized Fees
Product or Service
- Checking Accounts
Injury Type
- Monetary Loss
Investigation Details
This is an investigation and potential class action against Bank of America.
It is alleged by some customers that Bank of America offered them "free checking". Some consumer reports may suggest that customers are being charged an improper "account maintenance fee" each month.
Bank of America allegedly represents that customers who have Regular or Advantage checking accounts will not be charged account maintenance fees if they maintain certain minimum balances in either their checking account or a linked savings, money market, CD or IRA account. Some customers have complained, however, that even when they maintain the required minimum balance in one of these accounts, they are still charged a monthly account maintenance fee.
If Bank of America charged you an improper account maintenance fee on your checking account, we would be interested in hearing from you.
It is alleged by some customers that Bank of America offered them "free checking". Some consumer reports may suggest that customers are being charged an improper "account maintenance fee" each month.
Bank of America allegedly represents that customers who have Regular or Advantage checking accounts will not be charged account maintenance fees if they maintain certain minimum balances in either their checking account or a linked savings, money market, CD or IRA account. Some customers have complained, however, that even when they maintain the required minimum balance in one of these accounts, they are still charged a monthly account maintenance fee.
If Bank of America charged you an improper account maintenance fee on your checking account, we would be interested in hearing from you.
Defendant Details
| Name (Stock Symbol) | Brief Description |
|---|---|
| Bank of America N.A. (BAC) | Bank of America N.A. is one of the largest banks in the world offering a complete menu of financial services to consumers and businesses worldwide. |