Bank of America starts overdraft rebate outreach
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If you had a Bank of America account with a debit card between January 2001 and May of this year, you may be due some cash.
The nation's largest bank has started contacting customers who may be entitled to a refund. It recently reached a class-action settlement over the way it charged overdraft fees. Most of the other suits are continuing to work their way through federal court in Florida.
Bank of America agreed to set up a $410 million fund to settle the lawsuit. The money will be used to pay back customers who were charged overdraft fees as a result of the company's policy of processing debit card transactions based on the size of the transaction, rather than when the purchases occurred.
The bank is one of about three dozen named in a series of class-action lawsuits over the practice of "reordering." A policy that became widespread in the 2000s, reordering involves deducting purchases from an account starting with the largest dollar amount first. That means a customer may end up paying additional overdraft fees.
For instance, someone with an account balance of $95 and who made three purchases in one day, the first for $5, the next for $25 and the last for $75, would be charged two overdraft fees, rather than one.
The suits claim that reordering was done to intentionally increase the number of overdraft fees collected. Banks took in about $39 billion in overdraft fees annually before the Federal Reserve put new rules in place last year. Now banks are required to obtain a customer's written permission before providing overdraft protection.
To inform customers that they may be eligible for a refund of some overdraft fees, Bank of America is sending postcards to customers with a brief explanation of the settlement and the address of a website where more information is available.
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Does a car or truck accident count as a work injury?
If an employee is injured in a car crash while on the job, they are eligible to receive workers’ compensation benefits. “On the job” injuries are not limited to accidents and injuries that happen inside the workplace, they may also include injuries suffered away from an employee’s place of work while performing a job-related task, such as making a delivery or traveling to a client meeting.
Regular commutes to and from work don’t usually count. If you get into an accident on your way in on a regular workday, it’s probably not considered a work injury for the purposes of workers’ compensation.
If you drive around as part of your job, an injury on the road or loading/unloading accident is likely a work injury. If you don’t typically drive around for work but are required to drive for the benefit of your employer, that would be a work injury in many cases.
If you are out of town for work, pretty much any driving would count as work related. For traveling employees, any accidents or injuries that happen on a work trip, even while not technically working, can be considered a work injury. The reason is because you wouldn’t be in that town in the first place, had you not been on a work trip.
Workers’ compensation claims for truck drivers, traveling employees and work-related injuries that occur away from the job site can be challenging and complex. At Krol, Bongiorno & Given, we understand that many families depend on the income of an injured worker, and we are proud of our record protecting the injured and disabled. We have handled well over 30,000 claims for injured workers throughout the state of Illinois.