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Class action filed against Bank of America for breach of deposit agreement

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Class action filed against Bank of America for breach of deposit agreement

A class-action complaint was filed against Bank of America NA and Bank of America Corp. for allegedly charging clients overdraft fees on nonrecurring transactions made with bank-issued debit cards in violation of its own "Deposit Agreement and Disclosures" contractual documents.

Plaintiff Du'Bois Crockrom filed the complaint individually and "on behalf of all others similarly situated" with the U.S. District Court in the Southern District of New York, asserting that between June 18, 2010, and April 6, 2017, the bank charged clients $35 overdraft fees on nonrecurring transactions despite stating in early 2010 that it was ending that practice in June 2010, according to the court filing.

With over 100 members of the proposed class, the total amount in controversy exceeds $5 million, not counting interest, fees and costs, the court filing stated.