We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

BofA Off Hook For 'Deceptive' CD Interest Rate Claims

Law360 (August 12, 2010, 2:00 PM EDT) -- A federal judge has tossed a putative class action alleging Bank of America NA deceptively told its customers to renew certificates of deposit at the then-prevailing interest rate, which was lower than the rates they claimed they could have received from other offers the company made.

The plaintiffs’ claims are not preempted, but Bank of America has not engaged in any wrongdoing, Judge Nancy Gertner said in the U.S. District Court for the District of Massachusetts on Tuesday.

The plaintiffs have failed to allege facts that...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.