Bank of America must face overdraft fee refund lawsuit

Bank of America must face a lawsuit claiming it reneged on a promise to refund overdraft fees to customers facing financial hardship because of the COVID-19 pandemic. U.S. District Judge Yvonne Gonzalez Rogers ruled on Wednesday that customers plausibly alleged that the bank misled them on its website and mobile app by continuing to promise relief from overdraft and insufficient fund fees, after it had quietly ended its "Client Assistance Program" on Aug. 31, 2020. According to the complaint, Bank of America misled customers into believing it was better to incur $35 overdraft fees than borrow from family members or obtain loans, because the fees would be refunded under the program.