If you had an MBNA, FIA Card Services or Bank of America credit card account between July 27, 2002 and October 18, 2010, and your interest rate on such account was increased as a result of a default or delinquency, you may be eligible for a payment from a class action settlement.
A class action settlement has been reached in a class action lawsuit against FIA Card Services, N.A. (successor by merger and/or change of name to MBNA America Bank, N.A. and Bank of America, N.A.) (“FIA Card Services” or “FIA” or “Defendant”) in federal court in California (styled Frederick v. FIA Card Services, N.A., U.S. District Court for the Central District of California, Case No. CV 09-3419-AG (RNBx) and Augustine v. FIA Card Services, N.A., U.S. Ninth Circuit Court of Appeals, Case No. 07-16751, on appeal from the judgment of dismissal in the trial court proceedings, U.S. District Court for the Eastern District of California, Case No. CV 06-02013-GEB-EFB), alleging among other things that FIA improperly assessed on the credit card accounts of certain customers increased interest rates due to delinquency or default, which increase was calculated as of the beginning of the billing cycle in which the default or delinquency occurred, according to the MBNA, FIA Card Services & Bank of America credit card default or delinquency interest rate increase class action settlement website and class action settlement notice.
The MBNA, FIA Card Services & Bank of America credit card default or delinquency interest rate increase settlement class members reportedly includes the following persons, unless otherwise excluded:
All persons who, between July 27, 2002 and October 18, 2010, had a credit card account with FIA Card Services, N.A. or its predecessors Bank of America, N.A. (USA) and MBNA America Bank, N.A., and who, after a default or delinquency, were assessed and paid a higher rate of interest on their credit card account, which higher rate of interest was calculated as of the beginning of the billing cycle in which the default or delinquency occurred.
The proposed MBNA, FIA Card Services & Bank of America credit card default or delinquency interest rate increase class action lawsuit settlement reportedly provides for, among other things, that FIA has agreed to establish a Settlement Fund of $10 million from which Settlement Class Members may receive payments or account credits. Whether settlement class members must submit a Claim Form depends on the status of their credit card account. Current customers of FIA with a credit card account that is open and available for new transactions, reportedly need not submit a claim form. Current customers of FIA with an open credit card account, but whose credit card account is not available for new transactions, and former customers of FIA, are reportedly required to submit a Claim Form to receive a payment as part of the Settlement.
The Court is scheduled to hold a final class action settlement approval hearing on June 6, 2011, at 10:00 a.m., before the Honorable Andrew J. Guilford, Courtroom 10D, Ronald Reagan Federal Building and U.S. Courthouse, 411 West Fourth Street, Santa Ana, California 92701-4516, to consider whether the Settlement should be approved, as well as to consider an award of Attorneys’ Fees and Costs to Class Counsel and Incentive Payments to Plaintiffs for their services as class representatives.
For more information about the MBNA, FIA Card Services & Bank of America Credit Card Interest Rate Increase Due To Default or Delinquency class action lawsuit settlement, including information about how to participate in, be excluded from (or opt out of) or comment on or object to the MBNA, FIA Card Services & Bank of America class action settlement, visit the FIA Card Services class action settlement website:
www.frederickadministrator.com
If You Have Thoughts On The MBNA, FIA Card Services & Bank of America Credit Card Default or Delinquency Interest Rate Increase Class Action Lawsuit Settlement, Share Your Class Action Settlement Comments Below.
please keep me informed
I cannot get the website to open for this settlement. I received a notice in the mail referencing the same website, but it will not open. Anyone else having this iss??
I’m not having any problems with the site or the form download. Perhaps they have fixed the problems? Today is 3/9/11, and I see the posts are from 2 – 3 days ago … time enough to fix website issues.
My question is: Is this a legitimate claim? I want to make certain this is not a scam of some sort. It doesn’t seem so, but curious what others think …
The link to the claim form is not working either!
Google it, youll get the pdf forms
The same happened to me, so I just googled
Fredrick v. FIA Card Services, N.A. and I got the claim form.
Good Luck !
frederickadministrator.com/Portals/0/Documents/Frederick_Claim%20Form.pdf.
I have looked at all of the info available in a Google search.
All seems to be on the up & up and looks to be Legit.
frederickadministrator.com/
Does anyone know whether we place ourselves at a major disadvantage by joining this class action suit and relinquishing all of our claims thereafter? I had a balance of over $50,000 and paid it off… but ate a significant chunk of interest when they jacked it to 29.99% when I was 1 day late and the payment was due on a Sunday…. Net, $10,000,000 in settlement is not much if you spread it out over 5 million people… I wonder how they are basing their settlement awards…
This company needs to be fined 100 million dollars they screwed my credit big time by jacking the interest rate to 29% claiming i was late on a payment when I was not. I shoved the balance up their ass.
I wish I would have known about this. BofA gave a credit card to my daughter in Texas, I live in Ohio. I called them about it, they said I was responsible for pay off. I paid it off over the phone, they charged a $15 fee plus 150% intrest because I paid it off early. Cost me another $45 the next month. They are a good for nothing useless company.
I wish I had of known about this lawsuit but my account was already in default by the time of the filing deadline. BOA dangled this credit card in front of me back in 2007 when I was making good money. Then when I was 2 days late making my electronic payment because I was out of town they doubled my interest rate. A year later I lost my job and was proactive with them and tried to work something out with them. They didn’t want to work with me. Now they have turned it over to a lawyer and are going to file a judgement against me if I don’t pay.
They are a good for nothing greedy company. I hope they go down with the rest of the Enron big dogs of the world.
Hello, I have gone through this exact same process. I took out a $30,000 credit line with Bank Of America and have had to repay $360,000. I’m 87 years old and destitute. If anybody hears about how to make a claim with this lawsuit, please let me know.
On credit card auto-pay with boa. They took two payments in one month which I requested one pay. be put back into to my ckg. acct. They put both back..told me I requested both be reversed….not true! My acct. showed one month late..I paid that payment, but am now in recovery. Cannot get boa to put my acct back into status it was before their errors. I have made many calls…get a letter every month..was told my acct is in review to be reversed. What can I do to resolve this issue? I have documented every phone call with boa..l.dates, names, conversations.
On credit card auto-pay with boa. They took two payments in one month which I requested one pay. be put back into to my checking acct. They put both back..told me I requested both be reversed….not true! My acct. showed one missed payment ..I paid that payment, but am now in recovery. Cannot get boa to put my acct back into status it was before their errors. I have made many calls…get a letter every month..was told my acct is in review to be reversed. What can I do to resolve this issue? I have documented every phone call with boa…dates, names, conversations.
On credit card auto-pay with boa. They took two payments in one month which I requested one pay. be put back into to my checking acct. They put both back..told me I requested both be reversed….not true! My acct. showed one missed payment ..I paid that payment, but acct now in recovery. Cannot get boa to put my acct back into status it was before their errors. I have made many calls…get a letter every month..was told my acct is in review to be reversed. What can I do to resolve this issue? I have documented every phone call with boa…dates, names, conversations.
I have been wating for a check on this lawsuit ? I have no news at this point .Please let me know somethisng.
Cornell shephard
When viewing my account in January 2013, I noticed a fee of $2.45 from Frederick Settlement Credit. Who and what is this about? I call Bank of America who tranferred me to a recording to give information about the charge. After the recording, I was still lost about the charge.
I just got a check for $2.45, which is my share of a settlement with FIA/MBNA and Bank of America. Not to complain about free (?) money, but this is nowhere near the amount I had to pay in higher interest rates. At least SOMETHING was done. I’d check further, Glenda, as this should be a CREDIT, not a CHARGE.
this check is an isult to those of us who believed in the hype about bac
i received a check for $2.45 cents what is that for?im still lost.is this the amount you will get for the settlement?
Same – I got check for $2.45
Got a check today for $2.45.
Is this a joke? What’s the point of the settlement if the payment amount is so miniscule?
Sure, it’s money but $2.45?!
After the legal fees, this is all that’s left when split amongst all the card holders?!
It’s not even worth the cost of the preparation and mailing of the check itself.
Screw BOA and the rest of the credit card companies!
I got the same piddling $2.45 check. It would be interesting to know what the final accounting is here in terms of the relative amounts received by the applicable parties, namely: (1) Attorneys, (2) Administrators, and (3) all of the claimants/victims combined.
I too got a check for $2.45 that says “please detach, sign and cash this check immediately” with no explanation. This makes me believe that if I cash this check it would be like saying that I agree with this decision and I am happy with this settlement. Is this law suit over or is this BMA’s first monatory offer and by cashing this $2.45 check lets BMA off the hook?
Same measly $2.45 , but like Venice said, does cashing the check mean that we agree with the terms?? Whatever they are. I tried to check the website, but nothing was explained. I’m glad Bank of America is finally getting sued, but seriously, the lawyers are the only people benefiting here. Just like them being sued for foreclosing on folks. I bet they will receive next to nothing as well.
I just received a check today for $2.45. I had no idea I was even on the list for this lawsuit. Hmm, $2.45.
I’ma go buy myself half a gallon of milk!
More interestingly, I haven’t had a card with them in YEARS, so I wouldn’t be able to remember a fee like this. I’m with USAA now, and very happy there.
I received it for $2.45 today. I was so puzzle: what is for? I have no idea to have it. I thought it is scam but it isn’t. I checked website about it and really so serious to me. But I doubt it for any reason to have $2.45.
just rec’d my $2.45 today, Yippee??? what do i do with it, I paid off a $24,000 credit card!
This was a $10 Million class action settlement. Basis was based on bank charging higher rate of interest on balance not subject to rate increase.
Attorney’s received 25% ($2,500,000.00) and 5 others another $5,000.00 each. Since there were so many people affected, it made for a quick settlement. You would think, since we made the lawsuit easier, the standard 25% is in excess???? Since that new consumer agency was established, I received a $180.00 credit on another credit card. However, I’m not asking any questions about it(ha). It was not part of any lawsuit.
OH BOY ! I got $ 2.45 Now i`m gonna see if someone wants to go half with me on a burger and fries.
Hi Kevin, I also received $2.45 so I’ll go half w/you on the burger & fries.
My husband received a$2.45 check today.I am on here checking out why he got this,Wow they were really generous!!!!lol
What is $4.90 going to do???? Lil that is pennies! Cant even get a gallon of gas pretty upset
What is $4.90 going to do???? Lol that is pennies! Cant even get a gallon of gas pretty upset
I got $2.45 and wanted to check it out….
This is what I copied and pasted from the frederickadministrator.com website.
It is from ‘Court Documents’ (left side column) and this is in the 4th document:
” Order Awarding Attorney’s Fees and Costs and Plaintiffs’ Incentive Awards ”
((This is what some attorney-types do.
They file a class action lawsuit, get paid big $$ and crumbs to the masses.))
1. In accordance with paragraph 6 of Section III.E of the Settlement
Agreement, Class Counsel Barry L. Kramer is hereby awarded
attorney’s fees, costs and expenses totaling $2,500,000.00.
2. In accordance with paragraph 7 of Section III.E of the Settlement
Agreement, the Representative Plaintiffs Noel Frederick, Michelle
Pingol, Ken Adler and Mary Jane Augustine are hereby awarded
incentive payments of $5,000.00 each for their services in this case
(including Mary Jane Augustine’s services in the case of Mary Jane
Augustine v. FIA Card Services, N.A., Ninth Circuit Court of Appeals
case no. 07-16751, and prior related proceedings).
I got $2.45… I think that we should file a class action lawsuit against the lawyers for ripping us off. Maybe they would learn a lesson or two.
I also got a check for $2.45 . . . but i dont believe that bofa should pay people back. bofa is a bank , what do u expect, if you’re late with the funds they get to tax you for it.
I got a check for $2.45. I came to this site looking for a phone number to call and ask about this check before I cash the big bucks. WOW! Looks like everyone got the same amount. Well i’m going to cash it so I can go get me a loaf of bread.
My $2.45 check showed up in the mail the other day. I am fairly sure that my cc account took a bigger hit than that. Am I to expect a check every month for the next 20 years to recoup the rest of my money?
What happens if we don’t cash it? Where does that money go?
Ha….
2.45-can’t buy a coffee at starbucks even….2.5 million glad they worked so hard for us!!
This is redicules if they money from us why not give us back what thy took.Iknow it was more than 2.45
Have my check for $2.45 ….
just goes to show ya… Better to live on what you earn than using a bank card that makes you pay more than what it’s worth…..