Bank of America EFTA Unauthorized Transfer Class Action Settlement
Bank of America EFTA Unauthorized Transfer Class Action Settlement
Bank of America agreed to a $2 million settlement of claims that it improperly denied accountholders' disputes of unauthorized debit card and ATM transactions in violation of the Electronic Fund Transfer Act. People whose unauthorized debit card or ATM transaction claim was denied between May 6, 2023 and July 14, 2026 can file a claim for an equal pro rata share of the net fund, paid as an account credit or check. The claim deadline is December 11, 2026.
Settlement fund
$2M
Non-reversionary settlement fund
Top payout
Equal pro rata share
Account credit or check, no proof required
Claim deadline
Dec 11, 2026
59 days remaining
You may be owed money
Filing is free and takes a few minutes. Deadline: Dec 11, 2026.
Do you qualify?
You are a Class Member if ALL of the following apply:
- You submitted a dispute or claim to Bank of America that a debit card or ATM transaction was unauthorized.
- Bank of America denied that claim between May 6, 2023 and July 14, 2026.
- No documents or proof are required; you sign a claim form attesting that your claim was denied. The postcard or email notice includes a Unique ID used to file.
- Excluded: Anyone who requests exclusion by the November 30, 2026 deadline. If one holder of a joint account opts out, all holders on that account are treated as opted out.
Not sure if you qualify? Call the Settlement Administrator toll-free at 1-888-274-4284, email info@EFTABankingSettlement.com, write to EFTA Banking Settlement Administrator, 1650 Arch Street, Suite 2210, Philadelphia, PA 19103, or visit EFTABankingSettlement.com.
What happened
The lawsuit alleges that Bank of America violated the Electronic Fund Transfer Act by improperly denying accountholders' claims that debit card and ATM transactions on their accounts were unauthorized. Plaintiffs also allege the bank did not sufficiently explain the basis for its denials and did not provide, on request, the documents it relied on to deny the claims.
Bank of America denies any wrongdoing, and the Court has not decided who is right. The parties agreed to settle to avoid the cost, risk, and delay of continued litigation. In addition to the $2,000,000 fund, Bank of America agreed to change the written communications it sends to accountholders whose unauthorized debit card or ATM claims are denied.
How to file a claim
-
1. Confirm you are eligible
You qualify if Bank of America denied your claim that a debit card or ATM transaction was unauthorized at any time from May 6, 2023 through July 14, 2026. If you are unsure, call the Settlement Administrator at 1-888-274-4284.
-
2. Understand your payment
Every class member who submits a valid claim receives an equal pro rata share of the net settlement fund, which is what remains of the $2,000,000 after notice and administration costs, Court-approved attorneys' fees and costs, and the service award. Current accountholders receive an account credit, and former accountholders receive a check. The final amount depends on how many valid claims are filed.
-
3. File online or by mail
Submit your claim online at the official claim portal by 11:59 p.m. ET on December 11, 2026, or sign and mail the claim form attached to your postcard notice, postmarked by that date, to Dennie, et al. v. Bank of America, N.A., ATTN: Claim Forms, EFTA Banking Settlement Administrator, 1650 Arch Street, Suite 2210, Philadelphia, PA 19103. Filing requires the Unique ID printed on your postcard or email notice; if you did not receive one, call 1-888-274-4284 or email info@EFTABankingSettlement.com to request a claim form. The notice, claim form, and settlement agreement are posted at EFTABankingSettlement.com.
-
4. Receive your payment
Payments are made only after the Court grants final approval at the January 4, 2027 Final Approval Hearing and any appeals are resolved. Under the settlement agreement, account credits and checks are issued after Bank of America funds the payments following the Effective Date. Checks are valid for 90 days, so cash yours promptly.
Key dates
- Nov 30, 2026 Opt-out & objection deadline Upcoming
- Dec 11, 2026 Claim filing deadline Upcoming
- Jan 4, 2027 Final Fairness Hearing (11:30 a.m. ET) Upcoming
- TBD after final approval Payments issued to claimants Pending
The Final Approval Hearing is scheduled for January 4, 2027 at 11:30 a.m. ET in Courtroom #5A of the United States District Court for the Western District of North Carolina, 401 W. Trade Street, Charlotte, NC 28202. The Court will also consider Class Counsel's request for attorneys' fees, costs, and a service award, which are paid from the settlement fund. Exclusion requests must be postmarked, and objections filed or postmarked, by November 30, 2026. The Court may move the hearing, so check EFTABankingSettlement.com for updates before traveling.
Where the money is going
Bank of America will pay $2,000,000 into a non-reversionary settlement fund. The fund covers equal pro rata payments to class members who submit valid claims, plus notice and administration costs, the class representative's service award, and Court-approved attorneys' fees and litigation costs. Checks that are not cashed within 90 days, and any other money left in the fund, go to a cy pres recipient approved by the Court. Separately and outside the fund, Bank of America will pay the named plaintiff $1,774.43 for his individual claim.
All amounts listed above are pending and subject to final court approval at the Final Approval Hearing. The Court may award less than the amounts requested. Each payment is an equal pro rata share of the net fund, so the amount per claimant depends on the number of valid claims and the funds remaining after deductions.
Common questions
How much money will I receive?
Each class member who files a valid claim receives an equal pro rata share of the net settlement fund after fees, costs, the service award, and administration costs are deducted. The settlement does not state an estimated amount, and the final figure depends on how many valid claims are filed.
Do I need to submit proof of purchase?
No receipts or documents are required. You complete and sign a claim form attesting that Bank of America denied your claim that a debit card or ATM transaction was unauthorized. Filing uses the Unique ID from your postcard or email notice.
What if I didn’t receive a notice?
The class includes everyone whose unauthorized debit card or ATM transaction claim Bank of America denied between May 6, 2023 and July 14, 2026. If you believe you qualify but did not receive a notice or Unique ID, call 1-888-274-4284 or email info@EFTABankingSettlement.com before the December 11, 2026 deadline.
Does staying in the class affect my right to sue later?
If you stay in the settlement, you release claims for statutory damages and injunctive relief arising from the conduct alleged in the lawsuit during the class period, whether or not you file a claim. The release does not cover claims for actual damages from a denied debit card or ATM claim. To keep all of your rights, you must opt out with a request postmarked by November 30, 2026.
When will payments be sent out?
Payments go out only after the Court grants final approval at the January 4, 2027 Final Approval Hearing and any appeals are resolved. Current accountholders receive an account credit and former accountholders receive a check. An appeal can add a year or more to that timeline.
Dapeer Law, P.A.
Consumer class action attorneys based in South Florida. We track settlements so you don’t have to.
Similar open settlements
This page is for informational purposes only and does not constitute legal advice. Dapeer Law, P.A. is not the administrator of this settlement and is not affiliated with Bank of America, N.A., Angeion Group (the Settlement Administrator), or Class Counsel Edelsberg Law, P.A. of Edelsberg Law, P.A., Shamis & Gentile, P.A. of Shamis & Gentile, P.A., Kaliel Gold PLLC of Kaliel Gold PLLC, and Wilkerson Justus PLLC of Wilkerson Justus PLLC. The case is Dennie, et al. v. Bank of America, N.A., Case No. 3:24-cv-00454-MOC-DCK, pending in the United States District Court for the Western District of North Carolina before the Honorable Max O. Cogburn Jr.. Class representatives are Kirk Layne. Bank of America denies wrongdoing. This website is attorney advertising. Past results do not guarantee future outcomes.