National Affordable Housing

Bank of America Unauthorized Credit Report Class Action Settlement

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NATURE OF THE SETTLEMENT

A Settlement Agreement has been reached with Bank of America, N.A. in a lawsuit alleging that Bank of America violated the Fair Credit Reporting Act (“FCRA”) by accessing consumer credit reports to conduct “Account Review Inquiries” of Bank of America customers after their Bank of America account relationships had ended. Bank of America denies any liability or wrongdoing, but in order to avoid litigation costs and risk, has agreed to settle the class claim.

THE SETTLEMENT CLASS

You may be a Settlement Class Member if you were a borrower on a Bank of America account or Bank of America-serviced account and Bank of America reviewed your credit report through an Account Review Inquiry during the period August 21, 2010 through July 7, 2017, at a time when the account met any one of the following criteria: (1) the account was closed with a zero balance; (2) the account had been sold or transferred to a third party; or (3) the debt on the account had been discharged in bankruptcy.

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Who’s Eligible

Class Members eligible to claim benefits include all persons with a U.S. address whose credit report was obtained by Bank of America or FIA Card Services for an account review inquiry between Aug. 21, 2010 and July 7, 2017, and whose account relationship with the bank was terminated either because the debt on the account had been discharged via bankruptcy, the account was closed with a zero balance, or the account was sold or transferred to a third party.

Recent Update

In December 2017, Bank of America, N.A. discovered that due to an inadvertent error in retrieving names and addresses of class members form Bank of America, N.A.’s electronic consumer records, the Notice was not mailed to all borrowers on accounts with multiple borrowers. Due to a retrieval error, only the primary borrower listed on the account was included in the mailed list of Settlement Class Members created by Defendants.

As a result, additional or secondary borrowers’ names did not receive direct notice and Bank of America, N.A. has identified approximately 61,410 such additional or secondary borrowers. Though many of these additional or secondary borrowers received notice through a primary borrower (who in most cases is a spouse or other family member living at the same address), out of an abundance of caution and to ensure full compliance with the Court’s order, the Parties believe it is necessary to mail Supplemental Class Settlement Notice to the additional 61,410 borrowers.

The Parties have submitted a proposed Supplemental Notice and are implementing the Court’s requested clarifications. The Parties are to submit a revised Supplemental Notice by Friday, March 2, 2018 for the Court’s review. A final approval hearing date has not yet been scheduled. All class members, including both the Original Settlement Class Members and the additional settlement class members, are allowed to file a claim, opt out of the settlement, or object to the settlement until June 19, 2018.

UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF CALIFORNIA

If You Had an Account with Bank of America, N.A.,

You May be Eligible for a Payment from a Class Action Settlement. A federal court authorized this notice. This is not a solicitation from a lawyer.

  • A $1.645 million Settlement has been reached with Bank of America, N.A. in a lawsuit alleging that Bank of America violated the Fair Credit Reporting Act (“FCRA”) by accessing consumer credit reports to conduct “Account Review Inquiries” of Bank of America customers after their account relationships had ended. Bank of America denies any liability or wrongdoing. The Court has not decided which side is right.
  • Borrowers on certain Bank of America and Bank of America-serviced accounts may be eligible for a payment from the Settlement Fund.
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  • If the below criteria are met, this triggers a payment obligation on the part of Bank of America, and you are entitled to receive payment from the Settlement Fund. o You were a borrower on a Bank of America account or Bank of America-serviced account; AND o Your consumer credit information was accessed by Bank of America through an Account Review Inquiry during the period August 21, 2010 through July 7, 2017; AND o At a time when the account met any one of the following criteria:
    1. the account was closed with a zero balance;
    2. the account had been sold or transferred to a third party; or
    3. the debt on the account had been discharged in bankruptcy; AND o You timely submit a Claim Form.
  • Your legal rights are affected whether you act or don’t act. Please read this notice carefully.

File Here: https://eclaim.kccllc.net/caclaimforms/bkp/Notice.aspx

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