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Hurry if you want BofA cash
David Lazarus
San Francisco Chronicle July 11, 2007
About 35 million current and former Bank of America customers are eligible for a $14 million settlement of a class-action lawsuit involving alleged privacy violations. But you better move fast if you want your piece of the pie.
The case involves allegations that, for years, BofA made customers' confidential info available to marketers and other third parties without letting people know and in violation of the bank's own privacy policies.
"We deny all the allegations of wrongdoing and contend that the bank fully complied with the law and all customer agreements," said Shirley Norton, a BofA spokeswoman.
Be that as it may, the settlement says BofA has made changes to its various privacy policies, its Web site and its procedures for customers to opt out from having sensitive personal info shared with others.
It also provides for $10.75 million to be spent on waiving fees for certain bank products and services, as well as for several months of a credit-monitoring service to protect people from identity theft.
And BofA has agreed to contribute $3.25 million to privacy-related programs, including $1.5 million for nonprofit groups that seek to protect consumers' privacy.
"Although we felt our disclosures were sufficient," Norton said, "we felt that some of the changes proposed by the plaintiffs were acceptable."
The lawsuit was filed in September 1999 by the Utility Consumers' Action Network, acting on behalf of the Privacy Rights Clearinghouse, both in San Diego.
It alleged that BofA engaged in "unlawful, unfair and fraudulent" business practices by "disclosing consumers' personal, private, confidential information to third parties without consumers' consent or without making proper disclosure."
Specifically, the lawsuit charged that BofA customers' Social Security numbers, account numbers and other sensitive data were disclosed to "telemarketers, direct-mail marketers and other vendors" in return for millions of dollars in fees and commissions.
The info was made available to others, according to the lawsuit, despite assurances in the bank's privacy policy that BofA will "keep the information you provide us secure and confidential," and that it shares customer data "only for legitimate business purposes."
The bank's privacy policy now explicitly states that credit card customers' info may be shared with joint-marketing partners, and provides a number -- (888) 341-5000 -- that customers can call to limit the practice.
Norton said the bank chose to settle the lawsuit as a cost-saving move, even though its lawyers were on the case for nearly eight years.
"If we kept it going, you can imagine how expensive it would be," she said. "We want to put the matter behind us and move on."
Details of the settlement were provided to BofA customers as an insert with recent statements. For those who typically overlook such things, here's what you need to know:
-- Those eligible to participate include anyone who had a consumer credit card from BofA at any time from Sept. 9, 1995, to May 31, 2007. It also automatically applies to anyone who had a non-business checking or savings account at the bank, or a non-business loan or mortgage.
-- To participate, you must submit a claim form by Oct. 1. The form was included with the insert or can be accessed at bankprivacycase.com. You can also contact BofA about the settlement at (800) 462-2317.
-- Anyone who wants to be excluded from the settlement (and thus maintain the ability to sue BofA over privacy issues raised in the case) must contact the bank by mail at P.O. Box 4098, Portland, OR 97208, no later than Aug. 15.
-- All claims, particularly for a voucher for $200 off mortgage fees, will be paid on a first-come, first-served basis. Once the $10.75 million allocated for the settlement runs out, that's it.
-- The settlement still must receive court approval, which is expected by September. But you'd be smart to get a claim in more sooner than later.
Something else to consider: If all 35 million people deemed eligible by BofA for the settlement submit claim forms, that translates to an average payout per claimant of 30 cents.
The lawyers in the case will get as much as $4 million.
Billing for bills: A week or so ago, before I scampered off for a too-brief summer vacation, I reported that Blue Cross plans to start charging about 820,000 California customers $2 a month to receive their bills in the mail -- a bill to be billed.
Nick Garcia, a spokesman for Blue Cross of California, explained that the fee is due to "increases in postage and paper costs" for communicating with individual policyholders, as opposed to those who are covered through an employer or some other organization.
Not surprisingly, my e-mail in-box and voice mail filled up while I was away with angry messages from Blue Cross members who were peeved (to put it mildly) that the insurer has come up with a way to boost its annual revenue by millions of dollars.
One of those responding to the column was state Senate President Pro Tem Don Perata, who told me that he, too, finds billing for bills a dubious practice. As it happens, though, he's in a position to do something about it.
"I'm drafting a bill to outlaw the practice," the Oakland Democrat said. "Paying an extra fee just to get a bill in the mail is obnoxious. Punishing those who want to pay their bill the old-fashioned way isn't fair."
He plans to introduce the legislation soon and put the matter to a vote by next year.
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NEVER USE BANK OF AMERICA
NEVER USE BANK OF AMERICA HOME LOANS. THEY WILL STEAL FROM YOU. ANDRIAN JACOBS, LOAN PROCESSOR AND BONNIE HOUSE, BRANCH MANAGER WILL LIE TO YOU. THEY WILL STEAL YOUR MONEY. PLEASE GO ELSEWHERE.
BANK OF AMERICA IS ROBBING
BANK OF AMERICA IS ROBBING PEOPLE EVERYDAY! WHY IS THE GOVERNMENT ALLOWING THIS AFTER GIVING THEM BILLIONS OF DOLLARS?!
BANK OF AMERICA HAS A LICENSE
BANK OF AMERICA HAS A LICENSE TO ROB PEOPLE OF MONEY. WHEN IS THE GOVERNMENT GOING TO STEP IN TO THESE ROBBERS?
ROBBERY BY BANK OF AMERICA
BANK OF AMERICA HOME LOANS TOLD ME I HAD TO GIVE THEM $430.00 UP FRONT WHEN APPLYING FOR A HOME MORTGAGE. THEY TOOK MY MONIES AFTER DENYING ME A HOME MORTGAGE LOAN. THE BRANCH MANAGER BONNIE HOUSE OF THE CYPRESS LAKES FORT MYERSBRANCH TOLD ME I WOULD NEVER GET ANY MONIES BACK FROM BANK OF AMERICA AFTER I QUESTIONED HER ABOUT THEM TAKING MY MONIES AFTER DENYING ME A HOME MORTGAGE LOAN. HOW MANY PEOPLE ARE THEY ROBBING?
bank of america got to me
bank of america got to me after opening a new account. I made a deposit at my suburban kiosk ATM and they held the funds for 8 days. The money was taken immediately from my business account at a bank across the street and held in cyberspace for 7 days..while B of A charged over draft fees and cut me off from using my debit card...for a full week. I went to see them about it..and they turned from friendly to robotic holding to the company screw the new customer policy of sticking me with over draft charges while holding my money...and not taking the hold off nor reversing the overdraft fees now over 100.00 and climbing. I have money I can use..and debit card that shows insufficient funds. I have no gas money to even drive to work. I am watching the clock waiting a week till 9am Wednesday morning..to get to my money..and try to get all the checks paid and debit card charges paid and close the account immediately. Obviously, these people have all the cards in their favor to charge you at will and hold your own money at will while they steal from you all kinds of charges. I have nothing I can do. I have contacted the service center daily and I get different answers from the 1-800 number than I get from the local branch. It is a scam. a hoox..a complete nationwide scam to bank at this institution. I was not intentionally overdrafting in fact I made every effort to add cash to my account when I found that I had been charged overdraft fees..yet the fees kept comming..and no effort was made to settle me rather I was treated as a student and was made to feel like a student whereby they would want to take me into an office..whereby some minority hire with a good hair cut a sport coat would educate me how they operate so I could learn how they work so I could be successful. I guess they feel they are important to my success. My money is safer on a net spend card or in a local bank..whereby someone knows my name and my whereabouts and my integrity. These people are in outer space...nothing but stuffed shirts and anerexic non smoking shoe shine boys and bitch type women.
It is nothing more than a pay day advance loan shark operation fully owned and operated by Tony Suprano Italian mobsters that should be
brought before congress and have their charter jerked from doing business in the united states. They are not your friend. It is about as Friendly as dealing with full air line while standing in line at the Delta
gate in Atlanta. You get a smile and a sorry....welcome to the new reality of National banking. Thank goodness there is a church a liquor and gun store and a bank on every corner in Arkansas..and some are better than others.
I want to file a complaint against Bank of America.
I am not shore of how to tell this story; I am a retired 69 your old man and I live on the border of Panama and Costa Rica and my retirement is automatically deposited in to Bank of America.
On 31 July my debit card expired, in June I called Bank of America to inform them that in 2005 I had a problem getting a new debit card, I was informed by the person I was talking to, their was nothing thy could do, and It would be automatically sent to me on July 15th.
To make a very long story short, it is now Dec 23rd. 42 calls to Bank of America later, 8 debit cards later, and the only thing I have ever received from the Bank, are 4 pin numbers, but no cards to go with them.
In 5 months Bank of America has managed to destroy my retirement as I ones new it.
I have had to sell off many things, just to stay alive.
I would like to say one more thing, there are 2 Fed-Ex offices in David Panama, and I have Pleaded with some of the people I have talked to, and ask to have my card sent by Fed-Ex and I would pay four it.
Same reply, this is not the palace of Bank of America, yet the first 4 cares sent to me were sent by Fed-Ex, knowing that the contract Bank of America has with Fed-Ex dose cover out side the united States.
Merry Christmas Bank of America
BOA Lawsuit
I had two accounts with Bank of America at one time ... they made it easy. I closed these accounts by telephoning and writing to them after I transfered my balances to other credit card companies which carried no interest for about one year. The next time I had to transfer my balances, I went through another company through the Gemological Institute of America, who turned out to be another (third) BOA. As soon as I got this other BOA account I received a credit card in the mail. Since I was going on a trip and needed the extra cash, I activated the card and spent approx. $130.00. The next thing I knew they were billing me for $150.00 for credit card fees from one of the closed accounts. I called them up and told them that I was cutting up the card, that I had thought that this was from the third account with BOA and that I was not going to pay the $150.00. Now they have tacked on late fees and my bill is over $330.00! I contacted the third BOA to see if they could just transfer the $130.00 and (for some reason) they were unable to find the old account number in the system. I need your help! Thanks.
NOT ENOUGH
Bank of America representatives should go to jail for this. And the victims should be paid a fair settlement that makes sense (i.e. $100+ per person).
Law Suit
Is it to late to be in on the Law Suit agaisnt Bank Of America ?
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