Federal Judge Approves Settlement Of Credit Card Late-Fees Class Action

Federal Judge Approves Settlement Of Credit Card Late-Fees Class Action

PROVIDENCE, R.I. - A federal judge in Rhode Island on Sept. 12 granted final approval of a settlement in which all class members who submitted claim forms will be paid $40 and all other class members will be paid a share of a $4 million settlement fund, ending a class action alleging that Bank of America Corp. (BAC) imposed unfair late fees on its credit card customers (Bruce J. Trombley, et al. v. Bank of America Corp., No. 08-456, D. R.I.; 2013 U.S. Dist. LEXIS 130550).

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