Bank of America is currently working through several lawsuit settlements, and a few of them pay money directly to customers. The most relevant for consumers in 2026 are a $2.25 million class action over duplicate ATM fees at 7-Eleven machines and a $2.85 million settlement over improper fees on restrained New York accounts. Larger matters include a $72.5 million deal with women abused by Jeffrey Epstein and a $540.3 million court order in favor of the FDIC. Here is what each case covers, who qualifies, and what you may need to do.
ATM Fee Settlement for 7-Eleven Balance Inquiries
Bank of America agreed to pay $2.25 million to resolve Schertzer, et al. v. Bank of America, N.A., et al. (Case No. 3:19-cv-00264) in the Southern District of California. The plaintiffs claimed the bank breached its contract by charging two separate out-of-network fees for a single balance inquiry at FCTI-owned ATMs inside 7-Eleven stores.1USA Today. Bank of America Class Action Settlement ATM Fees
You may qualify if you had a U.S. Bank of America checking account and were charged more than one out-of-network balance inquiry fee during a single visit to an FCTI-owned ATM at a 7-Eleven between May 1, 2018, and November 16, 2021. Anyone who received a payment from the earlier Weiss v. FCTI settlement is excluded.2ClaimDepot. OON Fee Settlement
Current account holders who received a settlement notice do not have to do anything and will be paid automatically. Former account holders have to file a claim through oonfeesettlement.com or by mail to Kroll Settlement Administration by June 29, 2026, using the class member ID on their notice. The deadline to opt out or object is July 7, 2026, and the final fairness hearing is set for August 21, 2026. Payments are equal shares of the net fund after fees and costs, so the individual amount depends on how many people file.3ClassAction.org. $2.25M Bank of America Settlement Ends Class Action Over Allegedly Excessive OON Fees Bank of America denied any wrongdoing and said it settled to avoid the cost of trial.1USA Today. Bank of America Class Action Settlement ATM Fees
Restraint Fees Settlement for New York Accounts
A separate $2.85 million settlement resolves Jackson et al. v. Bank of America, N.A. (Case No. 15145/2011) in the Supreme Court of New York for Kings County. The suit alleged the bank violated the New York Exempt Income Protection Act by aggregating a customer’s multiple accounts when calculating exempt amounts, charging improper restraint fees on frozen accounts, and mailing certified checks for exempt funds instead of leaving them accessible in the account.4Top Class Actions. $2.85M Bank of America EIPA Class Action Settlement
Eligible class members are people whose Bank of America accounts were restrained or levied under New York law between January 1, 2009, and February 17, 2023. No claim form is required; checks go out automatically after final approval, with estimated payments of roughly $35. The final approval hearing was scheduled for June 18, 2025.5ClassAction.org. $2.85 Million Bank of America Settlement Resolves Restraint Fees Lawsuit As part of the deal, the bank stopped aggregating accounts for exempt-amount calculations in August 2017 and began keeping exempt funds in customer accounts as of February 2023.4Top Class Actions. $2.85M Bank of America EIPA Class Action Settlement
Epstein Victims Settlement
In March 2026, Bank of America agreed to pay $72.5 million to settle a proposed class action brought on behalf of women sexually abused by Jeffrey Epstein. The suit, filed in October 2025 by a plaintiff identified as “Jane Doe,” alleged the bank profited from its relationship with Epstein and ignored obvious signs that his accounts were being used to facilitate abuse.6BBC News. Bank of America Agrees to Pay $72.5M to Settle Epstein Lawsuit
A central allegation involved billionaire Leon Black, co-founder of Apollo Global Management, who used his Bank of America accounts to pay Epstein roughly $170 million, purportedly for tax and estate planning advice. Plaintiffs said the bank failed to flag those and other suspicious transfers.7Wall Street Journal. Bank of America Agrees to Pay $72.5 Million to Settle Epstein Lawsuit8Reuters. Bank of America’s $72.5 Million Settlement With Epstein Accusers Wins Preliminary Approval9New York Times. Bank of America Epstein Victims Settlement The deal follows similar settlements from JPMorgan Chase ($290 million) and Deutsche Bank ($75 million) with the same legal team.
FDIC Assessment Order
On March 31, 2025, U.S. District Judge Loren AliKhan in Washington, D.C. ordered Bank of America to pay approximately $540.3 million to the Federal Deposit Insurance Corporation for underpaying mandatory deposit-insurance assessments from the second quarter of 2013 through the end of fiscal year 2014, plus interest. The FDIC sued in 2017 and had expanded its claim to $1.12 billion, but the judge found the agency waited too long to pursue claims for earlier periods.10PBS NewsHour. Bank of America Ordered to Pay $540 Million in Long-Running Lawsuit From the FDIC Bank of America said it was “pleased the judge has ruled” and had already reserved for the decision.11Bloomberg Tax. Bank of America Must Pay $540 Million in FDIC Risk Rule Dispute This is a regulator-to-bank payment, not a consumer recovery.
CFPB Actions and Consumer Refunds
In July 2023, the Consumer Financial Protection Bureau ordered Bank of America to pay $150 million in penalties, split between $90 million to the CFPB and $60 million to the Office of the Comptroller of the Currency, for charging repeat nonsufficient funds fees on the same transaction, withholding promised credit card sign-up bonuses from customers who applied by phone or in person, and opening credit card accounts without customers’ consent.12CFPB. Bank of America for Illegally Charging Junk Fees, Withholding Credit Card Rewards, Opening Fake Accounts
The order also required more than $100 million in direct refunds: about $80.4 million to customers charged unlawful NSF fees and roughly $23 million to customers denied rewards bonuses. The bank was barred from charging repeat NSF fees and from opening unauthorized accounts going forward.12CFPB. Bank of America for Illegally Charging Junk Fees, Withholding Credit Card Rewards, Opening Fake Accounts
A separate November 2023 order required Bank of America to pay a $12 million civil penalty for reporting false mortgage data in violation of the Home Mortgage Disclosure Act. That order was terminated as of June 2025 after the bank met its obligations.13CFPB. Bank of America HMDA Data Enforcement Action
A December 2024 CFPB lawsuit accusing Bank of America, JPMorgan Chase, Wells Fargo, and Zelle operator Early Warning Services of letting fraud “fester” on Zelle, causing more than $870 million in consumer losses, was voluntarily dismissed with prejudice on March 4, 2025 under acting CFPB Director Russell Vought. Because the dismissal was with prejudice, the Bureau cannot refile these claims. Former CFPB enforcement head Eric Halperin said the dismissal “shut off the possibility of clawing back funds for consumer relief,” and Early Warning Services called the original suit “legally and factually flawed.”14CNBC. CFPB Drops JPMorgan, Bank of America, Wells Fargo Lawsuit15Payments Dive. CFPB Drops Fraud Suit Against Zelle, JPMorgan, Wells, Bank of America
Other Recent Regulatory Resolutions
In December 2024, the OCC issued a cease-and-desist order over deficiencies in the bank’s anti-money laundering and sanctions compliance, including late suspicious activity reports and inadequate Bank Secrecy Act controls. The order carried no monetary penalty but required an independent consultant review and a lookback of past SAR filings. Bank of America consented without admitting or denying the findings.16OCC. OCC Cease-and-Desist Order Against Bank of America17Legal Dive. Bank of America BSA Compliance Order
In September 2025, BofA Securities agreed to pay $5.56 million to resolve a Department of Justice criminal investigation into Treasury market spoofing. Between 2014 and 2020, two traders on the firm’s U.S. Treasuries desk entered more than 1,000 suspected spoof orders in cash and futures markets. The payment split into $1.96 million in disgorgement and $3.6 million for victim compensation, and the DOJ agreed not to prosecute the firm. Trader Tyler Forbes had already pleaded guilty in April 2022. BofA Securities separately paid $24 million to FINRA in 2023 over the same conduct.18Banking Dive. BofA Securities to Pay $5.56 Million Over Market Manipulation Allegations19U.S. Department of Justice. BofA Securities Inc. Resolves Criminal Investigation by the Justice Department
The 2014 Mortgage-Fraud Settlement
The largest single resolution in the bank’s history remains the August 2014 deal with the Department of Justice and other agencies over defective mortgage-backed securities sold before the 2008 financial crisis. Bank of America paid $16.65 billion, then the largest civil settlement between the U.S. government and a single company. It broke down into about $9.65 billion in cash and $7 billion in consumer relief for homeowners, including principal reductions and affordable housing funding. Much of the underlying misconduct came from Countrywide Financial and Merrill Lynch, both acquired by Bank of America in 2008.20CNBC. Bank of America in $16.65B Mortgage Settlement21National Housing Conference. Bank of America Settles With DOJ Over Mortgage Lending Case A separate $1.27 billion penalty tied to Countrywide’s “Hustle” program was later thrown out by the Second Circuit in May 2016.22KUNM. Bank of America $1.2 Billion Mortgage Hustle Penalty Thrown Out
Employment Discrimination Cases
A 2013 class action involving 4,800 women at Merrill Lynch alleged gender-based pay disparities and restrictions on women’s access to accounts and advancement. It settled for $39 million and required the firm to hire an organizational psychologist to reform team-assignment and account-distribution policies. More recently, two Black women who held senior vice president titles in Merrill Lynch’s wealth management division sued alleging systemic race and gender discrimination in team access and account distribution. That case reached a settlement in principle in 2025, with financial terms not disclosed.23Charlotte Observer. Bank of America Merrill Lynch Discrimination Settlement