BofA Accused Of Unauthorized Escrow Account Creation

By Jon Hill (August 3, 2020, 10:49 PM EDT) -- Bank of America NA was hit Monday with a proposed class action from a North Carolina resident who alleges the bank has engaged in systematic mistreatment of home loan borrowers, enrolling her and others in mortgage escrow accounts without proper authorization.

In a complaint filed in North Carolina federal court, Gina Zahran of Charlotte accused Bank of America of improperly opening an unwanted escrow account for her and then resisting her attempts to close it, an experience she alleged reflected a broader set of malignant bank practices affecting potentially thousands of other customers.

Those practices include "enrolling customers in profitable add-on...

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