Originally Posted by
minimum
Update, points posted to my account and SO's account, clearly visible in online banking but not redeemable. In total points worth ~$12K. We are unable to redeem the points as cash back. We called customer service and they just told us points are forfeited and they won't redeem the points for us.
We are going to report BoA to CFPB. But it looks like BoA does not pay anything for such incidents.
We'll probably join some class action lawsuits against BoA. I don't think we have the resources to sue BoA alone.
check
this to gain some insights on what you're getting into.
take note of this: "Class-actions can bring about change too by giving individuals a powerful, collective voice. While technically not a class-action, when 46 state attorney generals took on big tobacco on behalf of their states (
see 5 Biggest Class Action Settlements or Verdicts Ever), they did more than
win $206,000,000,000, they exposed the misleading advertisements of tobacco companies and forced them to change their marketing practices.On the other hand, the financial gains from successful class-actions disproportionately favor lawyers over clients while producing no meaningful results for consumers. In a preposterous case, consumers sued Red Bull for false advertising because the drink did not ‘give them wings’ as the advertisement promised. When the case settled,
the attorneys received $4,750,000 and the consumer received
a four pack of Red Bull."
$12K is a lot of rewards to lose, you may have to file an individual case, instead of just getting "crumbs" in a class action suit. Check Alex at his website bachuwalawdotcom. Keep us posted if you decide to file a case against the bank.