Check your mail carefully because you may find a surprise.
Bank of America overdraft settlement checks began arriving in Southwest Florida mailboxes last week. Look for what appears to be a white postcard. Open it and you will find a small check inside. The return address will read: Checking Account Overdraft Administrator, c/o Rust Consulting Inc., P.O. Box 2425, Faribault, MN 55021-9125.
The money is from a $410 million settlement a federal judge approved a year ago in a class-action lawsuit affecting 13 million Bank of America former and current customers. The suit alleged the bank processed its debit card transactions in the order of highest to lowest dollar amount so it could maximize the overdraft fees customers paid.
Critics have blasted the settlement, saying customers will receive less than 10 percent of what the bank charged in overdraft fees.
Anyone with Bank of America debit cards between January 2001 and May 2011 should receive a payment. The checks in the postcards are for anyone who's no longer a Bank of America customer. Current Bank of America customers should receive a credit to their account.
Eye institute buys Naples property
The Bascom Palmer Eye Institute at Naples has purchased 1.75 acres for $2.8 million.
The nonprofit organization, which is part of the University of Miami Health System, plans to build a 20,000-square-foot building on the northeast corner of U.S. 41 and Cypress Woods Drive, in the Park Shore area. Plans call for possibly expanding the building over the next 10 to 15 years, Bascom Palmer officials said.
Lee home building permits increase
Contractors pulled 44 permits to build single-family houses last month in unincorporated Lee County, 10 more than in November 2011.
Forty-two permits were issued in October, the Lee County Department of Community Development said.
Twenty multifamily units were permitted last month, compared to 12 in October and four in November 2011.
Athrex global trade director to speak at meeting
John Taylor, director of global trade at Arthrex in North Naples, will address the Southwest Florida chapter of the Institute of Internal Auditors' meeting at 5 p.m. today.
The meeting is at the Holiday Inn, Fort Myers Airport Town Center, 9931 Interstate Commerce Drive. Cost is $30 for members, $35 for nonmembers and $25 for students.
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