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You may be entitled to receive a settlement payment and other benefits in connection with a class action against Bank of America, N.A.
A federal court has authorized this notice. This is not a solicitation from a lawyer.
You are not being sued.
- This settlement resolves a lawsuit over whether Bank of America, N.A. (“BANA”) sent borrowers proper notice of their rights after vehicle repossession and sale.
- BANA denies and disputes the claims asserted in the Action. The parties disagree about whether any money (and if so, how much) could have been awarded to you if the Plaintiffs were to prevail at trial. The settlement avoids the costs and risks to members of the Class like you from continuing with the lawsuit, and it provides relief to the Class.
- This settlement will: (a) provide a gross fund of $3,250,000 to be distributed to Class Members after payment of administrative costs, Class Counsel fees and expenses, and a service award to each Plaintiff; and (b) require BANA to request credit reporting agencies to delete your auto loan history from your credit report, as set forth in the Class Action Settlement Agreement.
- Your rights are affected whether you act or not. Read this notice carefully.
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Your Legal Rights and Options in this Settlement: |
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Do Nothing (Optional: visit Settlement website to select preferred Payment Method) |
If the settlement is approved by the Court as presented, BANA will request the credit reporting agencies to delete your auto loan history with BANA from your credit report. You will also be paid a proportionate share of the net settlement proceeds, which you can view at this website: Nelsonclassaction.com. This payment will be sent to you by check unless you promptly go to the Settlement website and select one of the other available payment methods. You will need your Notice ID and PIN.
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Exclude Yourself |
You can choose to opt-out of the Settlement which means you are excluding yourself from the Settlement. You will keep your individual claims against BANA, but you will not receive payment as part of this Settlement or deletion of the BANA auto loan history. This is the only option that allows you to ever be part of any separate lawsuit against BANA concerning repossession or financing of your vehicle. Act by December 18th, 2024.
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Object |
If you do not opt-out, but instead wish to object to the Settlement, you may do so by writing to the Court about why you don’t like the settlement and do not want it approved. Act by December 18th, 2024.
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Go to a Hearing |
Ask to speak in Court about the fairness of the settlement by December 18, 2024.
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- These rights and options – and the deadlines to exercise them – are explained in this notice.
- The Court in charge of this case still has to decide whether to approve the settlement. Payments will be made if the Court approves the settlement and after any appeals are resolved. Please be patient.