Ever feel like you’re being nickel-and-dimed by your own bank? It’s a common frustration. You go to move your own money from one of your accounts to another, and suddenly there’s a $3 or $10 charge just for the "privilege" of an ACH transfer. Most of us just sigh and pay it, assuming that’s just how the system works. But a few people decided to push back, leading to the Bruin v Bana class sttlmt 2nd dist 1-833-933-5580, a case that basically put Bank of America (BANA) in the hot seat over these very fees.
If you’ve seen this string of numbers and legal jargon popping up on your statements or in your mail, you probably want to know if it's legit. Short answer: yeah, it is. Honestly, it’s one of those rare cases where the bank actually agreed to stop doing the thing people were complaining about, at least for a while.
The Core of the Dispute: Why BANA Got Sued
The whole mess started when Tami Bruin and Eline Barokas realized something kinda sneaky. They were being charged fees for "pushing" money from their Bank of America accounts to their own accounts at other banks. Now, if you’ve ever used the ACH (Automated Clearing House) system, you might know it's the backbone of how money moves electronically in the U.S.
The plaintiffs alleged that BANA was being deceptive. They claimed the bank made it seem like paying a $3 to $10 fee was the only way to move that money via ACH. But here’s the kicker: the NACHA system actually allows for "pull" transfers. If you go to your receiving bank and tell them to pull the money from your BANA account, it's usually free. The lawsuit argued that BANA hid this fact to keep those fee dollars rolling in.
BANA, for its part, didn't admit to doing anything wrong. They basically said their disclosures were fine and they were just providing a service. But rather than fighting it out in court for a decade, they settled.
Breaking Down the Bruin v Bana Class Sttlmt 2nd Dist 1-833-933-5580
The settlement itself is a bit of a mixed bag, depending on how you look at it. On one hand, there's an $8 million cash fund. On the other, there's a much bigger "hidden" value in the form of a practice change.
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The Cash Fund
The $8 million fund was set up to pay back customers who got hit with these "ACH First Party Fees" between April 4, 2018, and November 17, 2023. After the lawyers take their cut (which was about a third) and the administrative costs are paid, the rest gets split up.
If you were wondering how much you'd actually get, don't buy a Ferrari just yet. Most people reported getting somewhere around $9.61. Some got as little as $2. It’s not life-changing money, but hey, it’s better than a poke in the eye with a sharp stick.
The $21 Million Practice Change
This is actually the part of the Bruin v Bana class sttlmt 2nd dist 1-833-933-5580 that experts think is the most significant. As part of the deal, BANA agreed to stop charging these specific ACH push fees for five years. Lawyers estimated this would save customers about $350,000 every single month. Over five years, that’s $21 million that stays in people's pockets instead of the bank's coffers.
Who Was Included in the Class?
You didn't actually have to "sign up" for this one if you were an eligible customer. The "Settlement Class" was defined as:
- Any person in the U.S. who had a BANA consumer checking or savings account.
- Who paid an ACH First Party Fee (a push transfer to your own external account).
- Between the dates of April 4, 2018, and Nov. 17, 2023.
- And that fee wasn't already refunded.
If you fit that bill, the settlement administrator—reachable at 1-833-933-5580—likely already had you on their list. Current customers usually saw the money as a credit to their account, while former customers were mailed checks.
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Is 1-833-933-5580 a Scam?
It's totally fair to be skeptical. These days, every other phone call is someone trying to "help" you with a settlement or your car's extended warranty. But 1-833-933-5580 is the legitimate phone number for the Kroll Settlement Administration, the firm handling this specific case.
If you get a call or a letter and you're unsure, you can always go directly to the official settlement website at ACHFirstPartyFeeSettlement.com. You don't need to give out your social security number or bank password to get your payment in a case like this. If someone asks for that, that is a scam.
What Most People Get Wrong About These Settlements
A lot of people get angry when they hear about an $8 million settlement and then see a $2 credit on their statement. They feel like the lawyers are the only ones winning. And sure, the lawyers did walk away with millions.
But you've got to look at the "injunctive relief"—the part where the bank has to stop the behavior. Without this lawsuit, BANA might have kept charging those $3 fees forever. Now, for at least five years, that revenue stream is gone. It's a "win" that you don't necessarily see in your bank balance all at once, but it adds up across the whole customer base.
The 2nd Dist Part: A Note on Legal Geography
You might see "2nd Dist" or references to different districts like the Southern District of New York or the Western District of North Carolina. This just refers to where the legal boxing match took place. The case actually jumped around a bit. It started in New York (2nd Circuit area) but eventually moved and was finalized in North Carolina. Don't let the "2nd Dist" label confuse you; it's the same nationwide settlement.
Actionable Steps for BANA Customers
If you think you should have been part of the Bruin v Bana class sttlmt 2nd dist 1-833-933-5580 but didn't see any money, here is exactly what you should do:
- Check Your Statements: Look at your Bank of America transaction history from June or July 2024. Look for a credit labeled something like "Settlement Credit" or "Bruin Settlement."
- Call the Administrator: If you moved or closed your account, your check might be sitting in a pile of undelivered mail. Call 1-833-933-5580 and ask them to verify if a payment was issued in your name.
- Verify Your Address: If you’ve moved in the last three years, the administrator might have an old address on file. They can update it and potentially re-issue a check if the first one was returned.
- Watch Your Fees: Even though BANA agreed to stop these specific fees for five years, banks are famous for "inventing" new ones. Keep an eye on your monthly statements for any "Transfer Fees" or "Service Charges" that don't make sense.
- Use the "Pull" Method: Going forward, if you need to move money to another bank, initiate the transfer from the other bank's app. Tell them to pull the money from BANA. It’s almost always free and avoids this whole headache entirely.
The final fairness hearing for this case was held back on April 30, 2024, and the judge gave the final thumbs up in May. Payments started rolling out in mid-June 2024. If you haven't seen anything by now and you know you paid those fees, calling that 1-833 number is your best bet to see where your money went.
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Keep in mind that this specific settlement is now effectively "closed" in terms of filing new claims or opting out. The deadlines for that were back in March 2024. At this stage, it's just about making sure the money that was already allocated actually makes it to your pocket.
Next Steps for You: Check your BANA mobile app or online banking portal for any credits issued in June 2024. If you don't see a credit and you remember paying $3 or $10 fees for transfers to your other bank accounts during the 2018-2023 window, call 1-833-933-5580 to confirm your eligibility and check the status of your payment. Even a small payment is yours by right, and it's worth the five-minute phone call to ensure the bank isn't keeping money that a court said belongs to you.