Bank Of America Settlement Valued At $29M Given Final OK In ACH Transfer Fee Case

(May 29, 2024, 8:25 AM EDT) -- CHARLOTTE, N.C. — A federal judge in North Carolina granted final approval of a settlement  by Bank of America N.A. (BOA) providing an $8 million common fund and practice changes that the parties value at $21 million, ending a class complaint by consumers who accused BOA of misleading them about the National Automated Clearinghouse (NACHA) system and the necessity of Automated Clearinghouse (ACH) transfer fees....