Frequently Asked Questions

1. How or why would I be a part of this class action settlement?

2. What is the Lawsuit about?

3. Why is this a class action?

4. Why is there a settlement?

5. Can I file my own lawsuit or demand?

6. How do I know if I am covered by the Settlement and eligible for a payment?

7. What does the Settlement provide?

8. How much would my Settlement Payment be?

9. How can I get a Settlement Payment?

10. When would I get my Settlement Payment?

11. Do I have a lawyer in this case?

12. How will the lawyers be paid?

13. What are my current options?

14. How do I exclude myself from the Settlement?

15. If I exclude myself, can I get money from the Settlement?

16. If I don’t exclude myself, may I sue for the same thing later?

17. How do I object to the Settlement?

18. What is the difference between objecting and excluding?

19. What if I do nothing?

20. Are there tax consequences for me if I participate in this Lawsuit?

21. The person to whom the Notice was sent is deceased. What should I do?

22. The Settlement Class Member listed is incapable of acting on his/her own behalf. I have Power of Attorney. What should I do?

23. How can I get more information?

1.    How or why would I be a part of this class action settlement? (top)

If you had a Bank of America, Fleet Bank, LaSalle Bank, LaSalle Bank Midwest or U.S. Trust Company debit card and paid an insufficient funds fee, overdraft fee or similar fee, you may be eligible to get a payment from this class action settlement.

2.    What is the Lawsuit about? (top)

The lawsuit claims Bank of America made statements in its advertising, website, and customer agreements to encourage its customers to use Bank of America debit cards and increased the number of insufficient funds fees, overdraft fees, returned check fees, and similar fees charged to customers using Bank of America debit cards through the order in which such transactions were posted and the account balance information it provided. The lawsuit also claims that Bank of America authorizes debit card transactions that will result in overdraft fees; fails to warn customers that specific debit card transactions may result in overdrawn accounts; posts debit card and other transactions in high-to-low order; and provides account balance information to customers that is not current, accurate or as advertised. In addition, the lawsuit claims that Bank of America’s customer agreements are unconscionable, and that Bank of America does not provide customers with copies of account agreements until after they open their accounts.

Bank of America denies these claims and contends that it has fully complied with federal law, any applicable state laws, and its customer agreements, and also contends that it has other defenses to the claims in the lawsuit. In agreeing to settle, Bank of America does not admit it did anything wrong. The Court has not decided the merits of the lawsuit or any of the defenses.

3.    Why is this a class action? (top)

In a class action, one or more people called Class Representatives sue on behalf of people who have similar claims. All these people are a Class or Class Members. One court resolves the issues for all Class Members, except for those who exclude themselves from the Class.

4.    Why is there a settlement? (top)

Both sides agreed to a settlement to avoid the costs and uncertainty of trial and possible appeals, while providing payments to Class Members. The Class Representative and her attorneys think the Settlement is in the best interest of all Class Members.

5.    Can I file my own lawsuit or demand? (top)

No, you cannot file your own lawsuit unless you follow the procedures to submit a Request for Exclusion from the Settlement Class.

6.    How do I know if I am covered by the Settlement and eligible for a payment? (top)

You are a member of the Settlement Class and eligible for a payment if you resided in the United States at any time between the dates set forth below, had an account at a bank listed below, and meet all three of the following requirements:

Excluded from the Settlement Class are Bank of America, any parent, subsidiary, affiliate or sister company of Bank of America, and all officers or directors of Bank of America or any parent, subsidiary, affiliate or sister company at any time between December 6, 2000, and December 31, 2007, and the legal representatives, heirs, successors and assigns of any of the foregoing.

7.    What does the Settlement provide? (top)

To settle the case, Bank of America has agreed to establish a $35 million Settlement Fund from which Settlement Class Members will receive payments.

However, before any payments are made to Settlement Class Members, the following amounts will be deducted from the Settlement Fund if approved by the Court: (1) as much as $8.125 million to pay Class Counsel’s attorneys’ fees and costs of litigation; (2) $2.5 million to pay the administrative expenses necessary to implement the Settlement; and (3) an incentive payment of as much as $10,000 to the Class Representative. After Class Counsel’s attorneys’ fees, the $2.5 million needed to administer the Settlement, and the Class Representative’s incentive payment are subtracted from the Settlement Fund, individual payments will be made to each eligible Class Member who submits a timely claim.

8.    How much would my Settlement Payment be? (top)

The total payment to each qualifying Settlement Class Member will depend upon the total number of valid claims submitted by all Settlement Class Members. However, no Settlement Class Member will receive more than $78.

9.    How can I get a Settlement Payment? (top)

This deadline has past and claims are no longer being accepted.

If you meet the eligibility requirements needed to be a Settlement Class Member, to obtain a payment you must complete and submit a Claim Form. A Claim Form is attached to the Mailed Notice. You can also submit a Claim Form online [LINK], download and print a Claim Form [LINK] to mail in, or request a Claim Form by calling 1-877-625-9405. Read the instructions carefully, fill out the form, and submit it by mail or online, as instructed, no later than May 1, 2009. If mailed, the Claim Form must be postmarked on or before May 1, 2009.

10.    When would I get my Settlement Payment? (top)

Eligible Settlement Class Members will not receive a payment until after the Court approves the Settlement. If the Court refuses to approve the Settlement, there will be no payment. The Court will hold a hearing at 9:30 a.m. on June 16, 2009, to decide whether to approve it. If the Court approves the Settlement, there may be appeals that could delay your payment, perhaps for more than a year. Please be patient.

11.    Do I have a lawyer in this case? (top)

Yes. The Class Representative retained the law firms of Whatley Drake & Kallas LLC, Davis Cowell & Bowe LLP, McCune & Wright, and Rosner & Mansfield, LLP to represent her. The Court has decided that these lawyers called Class Counsel are qualified to represent you and all Class Members. You will not be personally charged by these lawyers for their work on the case. If you want to be represented by your own lawyer, you may hire one at your own expense.

12.    How will the lawyers be paid? (top)

Class Counsel will ask the Court for attorneys’ fees and expenses, which will be paid from the $35 million Settlement Fund provided by Bank of America. Class Counsel will request fees of up to $8.125 million from the Settlement Fund. The Court may award less than this amount.

13.    What are my current options? (top)

• You may submit a Claim Form. You will remain in the Class and give up your right to sue Bank of America, Fleet Bank, LaSalle Bank, LaSalle Bank Midwest and U.S. Trust Company separately about the claims made in this lawsuit. This is the only way to get a payment from the Settlement Fund of up to $78. Claim Forms must be postmarked, or submitted electronically, by May 1, 2009.
• You may exclude yourself/Opt Out. You will get no payment from the Settlement Fund in this case. This is the only option that lets you be part of any other lawsuit against Bank of America, Fleet Bank, LaSalle Bank, LaSalle Bank Midwest and U.S. Trust Company about the legal claims in this case. Requests for Exclusion must be postmarked by May 1, 2009.
• You may remain a member of the class and object to the settlement by writing to the Court about what you don’t like about the settlement. The deadline for objecting is May 1, 2009.
• You may remain a member of the class and ask to speak in Court about the fairness of the settlement. The deadline to request to speak at the hearing is May 1, 2009.
• You may do nothing, in which case you will get no payment and give up your right to make a claim against Bank of America, Fleet Bank, LaSalle Bank, LaSalle Bank Midwest and U.S. Trust Company about the claims made in this lawsuit.

14.    How do I exclude myself from the Settlement? (top)

If you are a Settlement Class Member and you want to keep the right to sue, or continue to sue, Bank of America, Fleet Bank, LaSalle Bank, LaSalle Bank Midwest and U.S. Trust Company on your own about the legal issues in this case, you must exclude yourself from the Settlement Class. This is sometimes referred to as “opting out.” If you exclude yourself, you will not receive payment from this Settlement.

To exclude yourself from the Settlement, you must send a letter by mail saying that you want to be excluded. Be sure to include: (1) the name of this lawsuit, Closson v. Bank of America, No. CGC 04436877; (2) your full name and current address; (3) your Bank of America, Fleet Bank, LaSalle Bank, LaSalle Bank Midwest and U.S. Trust Company account number(s); (4) a statement that you satisfy the criteria to be a Settlement Class Member as described above; (5) a statement of intention to exclude yourself and all other persons on the account(s) from the Settlement; and (6) the signature of all persons on the account(s). You must mail your exclusion request so that it is postmarked no later than May 1, 2009, to:

Bank of America Settlement Administrator
Opt-Out Request
P.O. Box 9339
Minneapolis, MN 55440-9339

REQUESTS FOR EXCLUSION THAT ARE POSTMARKED AFTER May 1, 2009 WILL NOT BE HONORED. You can not exclude yourself over the phone or by email. You will not be able to exclude yourself by mailing a request to any other location.

15.    If I exclude myself, can I get money from the Settlement? (top)

No. If you choose to exclude yourself from the Settlement, do not send in a Claim Form.

16.    If I don’t exclude myself, may I sue for the same thing later? (top)

No. Unless you exclude yourself from the Settlement, you give up the right to sue Bank of America, Fleet Bank, LaSalle Bank, LaSalle Bank Midwest and U.S. Trust Company for the claims that this Settlement resolves.

17.    How do I object to the Settlement? (top)

If you are a Settlement Class Member, you can object to the Settlement if you think any part of the Settlement is not fair, reasonable or adequate. You can give reasons why you think the Court should not approve it. The Court will consider your views. To object, you must send a letter stating that you object to the Settlement. Be sure to include (1) the name of this lawsuit, Closson v. Bank of America, No. CGC 04436877; (2) your full name, current address and telephone number; (3) the reasons you object to the Settlement; (4) documents showing you are a member of the Class; and (5) your signature. Mail a copy of your objection to each of the following three addresses so that they are postmarked no later than May 1, 2009:

COURT
Clerk of the Court
San Francisco Superior Court
400 McAllister Street
San Francisco, CA 94102

CLASS COUNSEL
Mitchell M. Breit
Whatley Drake & Kallas LLC
1540 Broadway, 37th Floor
New York, NY 10036

DEFENSE COUNSEL
Laurence J. Hutt
Arnold & Porter LLP
777 South Figueroa Street, 44th Floor
Los Angeles, CA 90017

You must also file a Proof of Service with the Court stating that you mailed or delivered copies of these papers to the Court, Class Counsel and Defense Counsel named above.

For information on whether you are a Settlement Class Member, refer to frequently asked question number 6 above (6. How do I know if I am covered by the Settlement and eligible for a payment?).

18.    What is the difference between objecting and excluding? (top)

Objecting is simply telling the Court that you do not like something about the Settlement. You can object only if you stay in the Class. Excluding yourself is telling the Court that you do not want to be part of the Class. If you properly and timely exclude yourself, you cannot object because the case will no longer affect you.

19.    What if I do nothing? (top)

If you are a Settlement Class Member, and you do not submit a Claim Form, you will not be able to receive a payment. Also, unless you exclude yourself, you will be bound by the Release of Claims and by the Judgment, and you will not be able to start a lawsuit, continue with a lawsuit, or be part of any other lawsuit against Bank of America, Fleet Bank, LaSalle Bank, LaSalle Bank Midwest and U.S. Trust Company about the legal issues in this case.

20.    Are there tax consequences for me if I participate in this Lawsuit? (top)

The Settlement Payment described could have tax consequences for you. Those tax consequences may vary, depending upon your individual circumstances. You should consult your own tax advisor regarding any tax consequences of the settlement, including any Settlement Payment provided under the Settlement, and any tax reporting obligations you may have with respect thereto. The parties make no representations, and assume no responsibility, with respect to any tax consequences that may occur.

21.    The person to whom the Notice was sent is deceased. What should I do? (top)

You may submit a claim on behalf of the estate. Please enclose with your Claim Form a copy of the death certificate and any other documents you may have, such as a document appointing you Personal Representative, or an Affidavit of Heirship.

22.    The Settlement Class Member listed is incapable of acting on his/her own behalf. I have Power of Attorney. What should I do? (top)

You may submit a claim on behalf of the Settlement Class Member. Please enclose with your Claim Form a copy of your Power of Attorney.

23.    How can I get more information? (top)

More details are in the Settlement Agreement, available online or by writing to the Settlement Administrator. You may call 1-877-625-9405 toll-free for additional information and to request a Class Notice by mail, or you can access the Class Notice online. You may also address questions in writing to the Bank of America Settlement Administrator, P.O. Box 9339, Minneapolis, MN 55440-9339.

DO NOT CONTACT BANK OF AMERICA OR THE COURT FOR INFORMATION.