Bank of America updated its Deposit Agreement in an update detected on July 12, 2026, with an effective date of May 15, 2026. The document now prominently discloses that it contains an arbitration clause, class action waiver, and other dispute resolution provisions, and the agreement has been substantially reorganized and rewritten with 151 sentences added, 41 removed, and 209 modified. The updated terms incorporate mandatory dispute resolution procedures and establish new operational provisions governing account closure, jurisdiction, legal orders, and compliance obligations.
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