Bank of America Court Settlement on Overdraft Fees

If you are one of the many people who was socked with Bank of America overdraft fees at the rate of $35 an incident, a court has ordered BOA to refund a portion of the amount (link has info on the settlement and how to get a refund).  This refund is for overdraft fees that occurred from 2001 to May of 2011.  I was with BOA for about 18 months in 2010-2011and incurred several hundred dollars in overdraft fees.  Mostly this was because I lived abroad and the peculiarities of the timezones I lived in were not accommodated by BOA's account posting procedures, already notorious.  I've already switched over to a credit union, which has been a complete shock in terms of service and procedures.  I couldn't understand what the bank manager was telling me about how their debit cards worked when I initially opened an account; they were so customer friendly that I had not in my life encountered these practices before.  Navy Federal, the bank, charges pennies on overdraft fees.  For continuing balances on debit cards, such balances are treated like a credit card, with interest rates in the single digits.  With competition like this, why do these large commercial banks even exist?  One would think superior service from credit unions would drive commercial banks out of the market or force them to drastically change their practices.  Unfortunate this hasn't happened yet.