A recent settlement agreement reached by Bank of America aims to address claims related to fee charges on accounts protected under New York’s Exempt Income Protection Act (EIPA). The $2.85 million payout targets individuals whose accounts were affected between January 1, 2009, and February 17, 2023. Additionally, the bank has committed to improving its practices in handling exempt funds. Meanwhile, a separate legal matter involving Navvis and SSM Health offers up to $7,000 in compensation due to a health data breach.
The settlement involves allegations that Bank of America improperly calculated protected amounts by aggregating all accounts instead of analyzing each one individually. Furthermore, plaintiffs claim the bank violated EIPA by issuing certified checks rather than keeping funds available in customer accounts. In response, Bank of America has agreed to modify its procedures and provide financial restitution to impacted customers without requiring a claim form submission. Concerning the health data breach, Navvis and SSM Health have settled for $6.5 million despite not admitting any fault.
Settlement Details and Affected Customers
Bank of America's settlement addresses improper fees charged against accounts safeguarded by the Exempt Income Protection Act. The affected period spans from 2009 to early 2023, during which time the bank allegedly combined account totals incorrectly when determining exempt funds. This error led to unnecessary fees being levied on customers who should have been shielded under the law.
Under the terms of the settlement, eligible individuals may receive approximately $35 based on the number of restraint fees they incurred. Payments will vary depending on individual circumstances. Notably, no claim form is required to participate in the settlement benefits; simply staying within the class action group ensures eligibility. Moreover, since August 2017, Bank of America has ceased aggregating judgment debtors' accounts before calculating exempt amounts, thereby enhancing its operational practices. As part of ongoing improvements, since February 2023, the bank now retains exempt funds directly in judgment debtors’ accounts. The deadline for opting out or filing objections is May 19, 2025, with final approval hearings scheduled for June 18, 2025.
Data Breach Compensation Opportunity
In a separate but equally significant development, individuals affected by a major health data breach could be entitled to substantial compensation. This breach occurred in mid-2023 and involved two healthcare providers operating primarily in Illinois, Missouri, Oklahoma, and Wisconsin. Despite neither party acknowledging liability, Navvis and SSM Health have collectively agreed to settle for $6.5 million.
Eligible claimants can apply for compensation reaching up to $7,000 per person as a result of this incident. The settlement provides an opportunity for those impacted by the breach to seek restitution without needing to prove wrongdoing on behalf of the healthcare providers. To take advantage of this offer, interested parties must submit their claims by the deadline of May 26, 2025. This resolution underscores the importance of safeguarding personal information in digital environments while offering tangible support to those affected by such breaches.
On a less-than-perfect Saturday morning, dog enthusiasts in Eau Claire, Wisconsin, braved the weather to participate in the 39th Fido and Friends Fun Run. This cherished community event not only provided an opportunity for pet owners and their furry companions to enjoy some outdoor exercise but also served as a crucial fundraiser for the Eau Claire Community Humane Association (ECCHA). All proceeds go directly toward caring for animals in need, covering everything from medical expenses to staff salaries and treats.
The annual gathering at Carson Park attracted participants like Teresa Brown, who appreciated the diversity of both dogs and people attending. According to Addie Erdmann, ECCHA’s marketing and development director, last year's fun run raised nearly $30,000, making it a cornerstone of the association's operations. The funds collected are essential for maintaining the shelter's daily activities, ensuring that every animal receives proper care.
Beyond its financial significance, the event fosters social interaction among pet owners and allows shelter pets to interact with potential adopters. For many attendees, the experience offers a chance to bond with fellow dog lovers while giving abandoned animals a shot at finding new homes. Despite unfavorable weather conditions, the enthusiasm remained high, emphasizing the community's passion for supporting this cause.
For those without a pet yet eager to join next year’s festivities, visiting ECCHA’s website provides valuable information on adopting a companion. The organization continues to rely heavily on events like these to sustain its mission of rescuing and nurturing animals.
This year’s Fido and Friends Fun Run exemplifies how a single event can unite a community around a shared goal. By combining recreation with philanthropy, it highlights the importance of compassionate action and collective effort in improving the lives of vulnerable creatures. Through such initiatives, the Eau Claire Community Humane Association ensures no animal is left behind.
Former President Donald Trump has publicly criticized Walmart for considering price hikes due to ongoing trade tensions. In a post on his social media platform Truth Social, Trump urged Walmart not to blame tariffs as the reason for increasing prices. He emphasized that the retail giant made substantial profits last year and suggested it should absorb the costs rather than passing them on to consumers. This stance contradicts Trump's previous claims that foreign countries bear the cost of tariffs. Instead, companies importing goods typically cover these fees and often pass increased expenses to customers. Walmart has warned about potential price increases if new tariffs on Chinese products are implemented, marking a significant shift in its historically deflationary role in the U.S. economy.
Trump's recent remarks highlight a growing concern over how tariffs impact consumer prices. The former president argued that Walmart’s financial success positions it well to manage tariff-related costs without affecting shoppers. His comments come amid warnings from Walmart executives, who have stated that rising tariffs could lead to higher prices as early as this month. CFO John David Rainey indicated during an interview with CNBC that these changes would likely result in noticeable price increases for consumers. This situation arises shortly after Walmart revised its earnings guidance following Trump's earlier tariff announcements, which disrupted global trade dynamics.
The implications of this development extend beyond Walmart itself. For decades, the company has been instrumental in driving down retail prices across various categories through its expansive supply chain and focus on affordability. By demanding low costs from suppliers and transferring those savings directly to buyers, Walmart played a crucial role in controlling inflation within sectors ranging from clothing to personal care items. However, current circumstances suggest this era might be ending. Rainey noted that the rapid pace and scale of price adjustments now being experienced are unprecedented in history.
Economists view Walmart's decision to raise prices as indicative of broader economic shifts. Harvard economist Jason Furman described it as a turning point where retailers may no longer avoid increasing prices despite competitive pressures. Furman pointed out that Walmart appears more concerned about customer reactions than political ones, reflecting changing priorities in corporate strategy amidst volatile market conditions. This adjustment allows other major brands and retailers to reconsider their pricing strategies accordingly, potentially altering consumer expectations moving forward.
This situation underscores evolving challenges faced by large corporations navigating complex geopolitical landscapes while maintaining profitability and customer satisfaction. As Walmart grapples with balancing tariff impacts against consumer demands, its actions set precedents influencing industry peers' decisions regarding similar dilemmas. Ultimately, such developments highlight interconnectedness between international policies, business operations, and everyday household budgets.