Judge Calls Atty Fees 'Excessive' In BofA Credit Card Deal

Law360, Chicago (May 7, 2012, 5:44 PM EDT) -- A federal judge on Thursday rejected Bank of America Corp.'s proposed settlement aimed at resolving a Rhode Island class action over allegedly unfair late fees imposed on credit card customers, finding the deal's $1.5 million in class counsel fees and expenses dwarfs class members' recovery.

U.S. District Judge Joseph A. DiClerico Jr., sitting by designation from the District of New Hampshire, denied without prejudice lead plaintiffs Bruce J. Trombley and Ryan Sukaskas' bid for attorneys' fees and costs, class certification and final approval of the settlement....
To view the full article, register now.