By Jon Hill (September 23, 2021, 11:00 PM EDT) -- A Baltimore federal judge freed Bank of America from a proposed consumer class action that sought to hold it liable for millions of dollars in escrow interest allegedly owed to Maryland mortgage borrowers, handing the bank a notable win in a case that's paralleled national litigation.
U.S. District Judge Stephanie A. Gallagher granted summary judgment to Bank of America NA Wednesday on all claims in a complaint filed by Cynthia Clark, a former Maryland homeowner who accused the bank of flouting that state's mortgage escrow interest law.
The state law, which requires lenders to pay interest on funds held in mortgage...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!