BofA Customers Sue Over Unauthorized Insurance Fees

Law360, New York (July 21, 2011, 5:38 PM EDT) -- Several Bank of America Corp. customers filed a class action in California on Tuesday, accusing the bank of making unauthorized transfers out of their accounts to pay for insurance policies for which they never signed up.

The plaintiffs allege that Bank of America allowed an affiliate, Intersections Insurance Services Inc., to take $20 or $40 monthly payments out of customer bank accounts without their approval. The plaintiffs say they never signed up for an insurance policy with Intersections, which does business as Smart-Step Protector Insurance....
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