Bank of America Settles Suit Over ‘Pay-to-Pay’ Mortgage Fees

Bank of America N.A. and consumers won final approval of a settlement in a class action accusing it of violating federal and California laws by charging its mortgage customers fees to make their monthly payments over the phone or online.

The class also asserted that the $6 fees weren’t authorized by their mortgages.

After meeting with a mediator, the parties proposed a settlement to the court in June that included the creation of a $1.975 million fund to pay all class members.

The class certified by the court included “all persons who have or had a California address, and at ...