Case Overview: Bank of America has agreed to a $2 million class action settlement over allegations it improperly denied unauthorized electronic fund transfer claims in violation of federal law.

Who Qualifies: Bank of America customers whose unauthorized electronic fund transfer claims were denied

Estimated Payout: Varies; total settlement fund is $2 million

Deadline: December 11, 2026

Bank of America Agrees to $2M Settlement Over Denied Fraud Transfer Claims

Bank of America customers who filed unauthorized electronic fund transfer claims that were denied may be eligible for compensation under a proposed $2 million class action settlement. The claim filing deadline is December 11, 2026.

According to reporting on the settlement from Top Class Actions, the case centers on allegations that Bank of America violated the Electronic Fund Transfer Act (EFTA) by improperly denying customers' claims for unauthorized transactions on their accounts.

What You Could Receive

Eligible class members may receive a cash payment from the $2 million settlement fund. Individual payout amounts will depend on the total number of valid claims submitted — the more claims filed, the smaller each individual share. Final amounts have not been disclosed.

What the Case Was About

The lawsuit alleges that Bank of America failed to meet its obligations under the Electronic Fund Transfer Act, a federal consumer protection law that governs disputes over unauthorized electronic transactions — such as debit card fraud, unauthorized ACH transfers, and similar account activity.

Under the EFTA, financial institutions are generally required to investigate consumer claims of unauthorized transfers and restore funds in certain circumstances. The complaint alleges that Bank of America denied such claims in a manner that violated those federal protections, leaving affected customers without reimbursement for transactions they did not authorize.

Bank of America has not admitted any wrongdoing as part of the settlement.

Are You Eligible?

You may be eligible to file a claim if you:

• Were a Bank of America customer
• Submitted a claim for an unauthorized electronic fund transfer
• Had that claim denied by the bank

Documentation needed: Specific documentation requirements have not been publicly detailed. Settlement administrators typically accept attestation for straightforward claims, but claimants should review the official settlement website for guidance on what supporting materials, if any, may be required.

How to File a Claim

1. Visit the official settlement website (details available through the settlement reporting page)
2. Complete the online or paper claim form
3. Provide any required supporting documentation
4. Submit your claim no later than December 11, 2026

Missing the deadline may forfeit your right to participate in the settlement.

Important Dates

• Claim Deadline: December 11, 2026

Additional hearing dates and an estimated payout timeline were not available at the time of publication. Claim approval and distribution typically follow final court approval of the settlement.

Settlement: Bank of America EFTA Violation Class Action Settlement

Court: Not publicly specified at time of publication

Settlement Amount: $2,000,000

Claim Deadline: December 11, 2026

Settlement Website: See Top Class Actions settlement page for official claim portal link

Think you may qualify? The deadline to file a claim is December 11, 2026. Questions about eligibility or the claim process can often be directed to the settlement administrator through the official settlement website.