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SETTLEMENT UPDATES
Update: January 23, 2013
Settlement awards have been distributed to class members.
Update: October 12, 2012
On September 14th, the appeal filed in this case was dismissed.
Update: September 16, 2011
An Appeal has been filed and final implementation of the settlement will be delayed until the Appeal has been resolved. This process may take considerable time.
Update: August 29, 2011
The Court gave final approval to the Settlement and entered judgment on August 23, 2011.
Update: August 16, 2011
Please note: The court held the final approval hearing on June 27, 2011. As of August 16, 2011, the court’s decision is still pending.
Update: June 2, 2011
Please note: The final approval hearing has been rescheduled. The new date is June 27, 2011.
Update: May 3, 2011
Please note: The May 2, 2011 deadline for filing a claim form, or to exclude yourself from the settlement or object to the settlement, has now passed.
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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.
THIS NOTICE MAY AFFECT YOUR RIGHTS – PLEASE READ IT CAREFULLY
This
notice summarizes a proposed class action settlement of claims brought against FIA Card Services, N.A. (“FIA”) involving increases to the interest rate on
MBNA, FIA or Bank of America credit cards due to delinquency or default, which increase was calculated as of the beginning of the billing cycle in which the default or delinquency occurred. The names of the cases being settled are
Frederick v. FIA Card Services, N.A., U.S. District Court for the Central District of California, Case No. CV 09-3419-AG (RNBx) (“Frederick Action”) 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) (“Augustine Appeal”).
The United States District Court for the Central District of California will hold a hearing on June 27, 2011 to decide whether to give final approval to the Settlement. The Court has not decided that FIA did anything wrong. The purpose of this notice is to enable you to determine if you are a member of the Settlement Class and, if you are, to inform you of the terms of the Settlement and your rights in relation to the Settlement so that you can make an informed decision whether you should remain in the Settlement Class, object to the Settlement, or opt out of the Settlement Class, and if you remain in the Settlement Class, whether you have to file a claim form.
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Your Rights and Options as a Settlement Class Member
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| REMAIN IN THE SETTLEMENT CLASS |
This is the only way to get a payment or account credit from the Settlement Fund. If you remain a member of the Settlement Class, you will be bound by any judgment and releases. You will receive an account credit or payment after the Effective Date of the settlement. You may or may not have to file a Claim Form, depending on the status of your credit card account. If you are a Settlement Class Member and are required to submit a Claim Form, it must be postmarked by May 2, 2011. See FAQ 5 for more information. THE DEADLINE TO FILE A CLAIM IS PAST. |
| EXCLUDE YOURSELF |
You may exclude yourself from the Settlement Class. By electing to be excluded from the Settlement Class, you will not share in any recovery if the Settlement is approved. You will not be bound by any releases or by any further orders or judgments entered for or against the Settlement Class. You will not be entitled to object to the proposed Settlement. You may pursue any claims of this nature you have against FIA, MBNA or Bank of America by filing your own lawsuit at your own expense. All exclusion requests must be postmarked not later than May 2, 2011. See FAQ 7 for more information and the requirements for exclusion. THE DEADLINE TO EXCLUDE YOURSELF IS PAST. |
| OBJECT |
You may object to the Settlement. Objections must be filed with the Court and sent to Class Counsel and counsel for FIA postmarked not later than May 2, 2011. See FAQ 8 for more information and the requirements for making an objection. THE DEADLINE TO OBJECT IS PAST. |
| DO NOTHING |
You will remain a member of the Settlement Class. You will be bound by any judgment and releases. You will give up any right you may have to make a claim against MBNA, FIA, and Bank of America about the subject matter of these lawsuits. If you are a current customer of FIA with a credit card account that is open and available for new transactions, you will automatically receive a credit to your FIA credit card account or, in FIA's discretion, a payment by check. If your credit card account is not available for new transactions, or if you are a former customer of FIA, doing nothing will result in your getting no payment or account credit as part of the proposed settlement, unless you submit a Claim Form postmarked by May 2, 2011. See FAQ 5 for more information. THE DEADLINE TO FILE A CLAIM IS PAST. |