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Bank of America Military Interest Rates Settlement

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Settlement Structure: 
Case Summary: 

Bank of America is paying nearly $42 million to settle claims that it violated the Servicemembers Civil Relief Act, the Truth in Lending Act, North Carolina’s Unfair and Deceptive Trade Practices Act, as well as common law, by charging service members and their families excessive interest rates on mortgages, credit card accounts, and other interest-bearing obligations, and by attempting to hide the excessive interest charges.

Docket Number: 
5:15-CV-231
Company: 
Bank of America
Class Period: 
Tuesday, September 11, 2001
Objection Deadline: 
Tuesday, December 12, 2017
Exclusion Deadline: 
Tuesday, December 12, 2017
Final Approval Hearing: 
Monday, February 5, 2018
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