Calif. Appeals Court Nixes Suit Over BofA Fee Hikes

Law360, New York (November 22, 2011, 8:47 PM EST) -- A California appeals court on Monday affirmed the dismissal of a proposed class action against Bank of America NA over fee increases, ruling that private citizens can't file suits based on violations of the federal Truth in Savings Act.

The California Court of Appeal, Second Appellate District, rejected the suit even though California consumers may sometimes “borrow” violations from certain statutes and pursue them under the state's broadly applied unfair competition law, the court said.

However, in the case of the TISA, Congress specifically revoked the...
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