BofA Borrower's Escrow Suit Can Proceed, Judge Says

By Emilie Ruscoe (June 3, 2021, 8:27 PM EDT) -- A federal judge in North Carolina has denied Bank of America's bid to end a proposed class action alleging that the bank improperly opened escrow accounts for its mortgage borrowers and mismanaged those accounts.

In a Wednesday order, U.S. District Judge Max O. Cogburn Jr. found that Gina Zahran had provided enough information in her suit to show how the Charlotte-based bank's alleged misdeeds could constitute a violation of federal and state laws.

"The court will deny the motion to dismiss as to all of the claims and allow the parties to proceed with discovery," Judge Cogburn said Wednesday,

Zahran launched...

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