BoA Can't Dodge Suit Over Extended Overdraft Fees

Law360, Los Angeles (December 19, 2016, 10:47 PM EST) -- Bank of America NA must face a putative class action over its practice of levying $35 extended charges against account holders for failing to replenish an overdrawn account within five days, after a California federal judge ruled Monday the fees amount to interest.

The order denying Bank of America’s dismissal bid comes in a suit challenging the extra $35 fee the bank charges on top of the $35 initial charge any time an account holder writes a check without sufficient funds and doesn't restore the negative balance within a certain window of time.

Named plaintiff Joanne Farrell alleged in her February...

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