Some Bank of America customers may receive payments after the banking giant agreed to a $2.25 million class-action settlement related to ATM fees at 7-Eleven stores.
The legal complaint stems from a 2019 lawsuit filed during 2019 in a Southern California federal court, USA Today reported. The complaint -- Schertzer, et al. v Bank of America, N.A., et al. -- alleged that Bank of America had breached its contract with consumers by assessing excessive fees for ATM transactions, according to the newspaper.
The fees were assessed at out-of-network ATMs owned by FCTI, Inc., located inside 7-Eleven convenience store locations, WMAQ reported. According to the settlement website, both sides agreed to settle to avoid lawsuit costs and a trial.
In the settlement, Bank of America denied any wrongdoing.
The complaint alleged that Bank of America charged customers two out-of-network fees for balance inquiry requests, when only one inquiry was made at the FCTI ATMs, USA Today reported.
Consumers who used an ATM inside a 7-Eleven from May 1, 2018, to Nov. 26, 2021, are eligible, LiveNowFox reported.
Former account holders may be contacted and can file a claim by July 29, according to the settlement website.
Current account holders who are part of the settlement class are not required to take action.
Consumers who already received payments through a separate 2024 settlement in the case Weiss v. FCTI are not eligible.
The final approval hearing for the settlement will be held on Aug. 21, 2026, USA Today reported.
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