BofA Settles Class Action Over Credit Scores

Law360, New York (October 1, 2009, 1:36 PM EDT) -- Bank of America NA has agreed to a $9.95 million settlement with plaintiffs who sued the company for allegedly failing to notify home loan applicants of their credit scores within the amount of time required by the Fair Credit Reporting Act.

In a proposed settlement agreement filed with the U.S. District Court for the Western District of Virginia on Wednesday, Bank of America agreed to set up the $9.95 million fund for anyone who applied for a home equity or mortgage loan from Bank of America...
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