Approval was announced for Bank of America’s...

Approval was announced for Bank of America’s settlement of a class-action lawsuit challenging the bank’s fees for processing checks drawn on accounts with insufficient funds. San Francisco Superior Court Judge Roy L. Wonder approved the plan under which current and former checking account holders will receive discounts on many bank services, checking account-related charges will be frozen for a limited period of time, a consumer education fund will be set up with the bank supplying $2.5 million for 10 years, and the bank will make $10 million available for interest-free loans during the next two years to finance production of low-income housing.