MW-CN180_BAC_07_20140715175824_MGLawsuit accuses Bank of America of charging unauthorized fees

 

This is a reuters.com article.

 

Consumers taking out home equity lines of credit at Bank of America were enrolled in payment insurance plans without their consent, adding unwanted fees to their borrowing costs, a proposed class action is charging.

Removed last week to South Carolina federal court from the Spartanburg County court of common pleas, the lawsuit claims the bank violated the U.S. Truth in Lending Act by unilaterally enrolling customers in borrowers’ insurance plans after telling them that the coverage required their consent.

To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/1R9TbZ4

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