Hey, guys, it's Ginny Silver.
We have a really big update regarding frozen banks, America
Edd debit cards.
Now, many of you may recall that there was a class action
lawsuit filed against Bank of America for Edd claimants who
had their Bank of America debit cards frozen, who had their
security compromised due to a lack of security protections
and due to a breach from Bank of America with their contract
with the Edd.
Now, what we have released today is a preliminary injunction
from the presiding judge over the Bank of America Edd class
action lawsuit.
Now, a preliminary injunction is an order that prohibits
an action.
It is intended to preserve the status quo while the underlying
court case is decided upon.
Now, our preliminary injunction is temporary and last typically
the duration of the court case, but can be replaced with
a permanent injunction.
So what I'm going to share with this is not permanent.
This is not a final ruling, but this is temporary right now
with this preliminary injunction.
Now, first off, you guys, I want to apologize for doing this
in screenshot format.
I've released several videos this week where I'm not on camera
and several of you are calling me out on it.
I have had a few days where I've had no assistance with child
care during the day, so I promise I will do a longer, more
in depth video on this specific topic, most likely tomorrow
or the following day.
But because this is such a big news and big changes with
these EDV debit cards, I wanted to get this out to you as
quickly as possible.
Anywhere you see defendant that refers to Bank of America.
They state here that the defendant shall be prohibited from
considering the results of the Bank's initial automated claims
fraud filter in investigating or resolving unauthorized transaction
error claims.
What that means is that Bank of America has a claim fraud
filter kind of like Edd has a stop payment alert system within
their internal system.
So when something is triggered as being potentially fraudulent,
this ruling here States that they cannot use the fraud filter
as a basis for resolving unauthorized transactions or claims.
So essentially, using that fraud filter only is not permissible.
They must follow up and actually review the case before they
freeze the account.
The next order that was made was that the defendant, Bank
of America shall be prohibited from denying or closing claims
or denying provisional or permanent credit to claim its accounts
without conducting and concluding an investigation.
So this means for those of you that had your cards frozen
counts closed without an investigation, this is no longer
permissible. They can no longer deny or close claims without
an investigation.
Next, that B of A shall be prohibited from denying our closing
claims without providing the claimant a written explanation
of the findings of its investigation.
So for those of you that were subject to a frozen debit card
with no warning, it just one day was frozen.
This ruling by the judge has prohibited Bank of America from
doing it again in the future without providing the claimant
a written explanation.
Next, Bank of America shall not consider the results of the
Bank's Claim Fraud filter as a basis for freezing card accounts
of any class member.
Next, Bank of America, beginning 10 days after this order
that we are reading right now, Bank of America shall reopen
any claim that it closed or denied.
They solely upon the results of its claim fraud filter, and
they have up to 30 additional days in order to do this for
all claims the judge ruled up for previously closed claims
filed by a class member who had not yet authenticated their
identity. That within 10 days of reopening the claim, they
are required to send them notification of what had happened
and the steps that are needed in order to authenticate their
identity. They then have 45 calendar days within the original
notice in order to authenticate their identity for previously
closed claims that were filed by a class member who has authenticated
their identity already, but the claim has never been reopened.
Bank of America shall reopen such claim within 10 days of
the entry of this order.
The defendant shall complete the investigation and resolve
the claim within 45 calendar days of reopening.
Bank of America is required within 10 days of this order
to give any class members notices whose account are blocked
solely upon its Claims fraud filter and explain that the
Bank will promptly unblock their account as the class member
authenticates their identity.
There are also several rulings here that require Bank of
America to set up some dedicated toll free customer assistance
phone numbers for the class action members to contact for
various reasons and some specifics outlined with how they
must staff them, how frequently they need to answer those
phone lines, etcetera.
Now, in this preliminary injunction, we see two different
sets of orders.
One set of orders is specifically for the class action lawsuit
members, but there are several orders that apply to all Bank
of America Edd Debit cards.
Now, most likely, if you're watching this video, you are
not a member of the class action lawsuit.
So I want to summarize for you exactly what applies to you
for all Edd Debit cards.
Bank of America currently is prohibited from freezing accounts
based only on its automated Claims fraud filter.
Bank of America is also currently prohibited from freezing
or denying claims without conducting an investigation, and
Bank of America is currently prohibited from freezing or
denying claims without providing a notice of explanation
of investigation of finding.
Okay, guys.
So I'm going to be following up this video with a more detailed
on camera video.
But I do want to try to get a class action attorney who handles
similar cases, if not this attorney, because I doubt that
they will talk with me, but I'm going to try to follow up
with me on some questions regarding this.
So you guys be on the lookout for an additional video to
come. Alright, I hope that was helpful.
Please click Like Subscribe and leave me a comment down below.