Calif. Homeowner Class Certified In BofA Impound Account Suit

Law360, New York (June 4, 2013, 2:11 PM EDT) -- A federal judge on Monday certified a class of California homeowners challenging Bank of America Corp.'s now-revoked policy of establishing impound accounts so the bank could pay the borrowers' property taxes and homeowner's insurance without the homeowners' consent.

Judge Dana M. Sabraw of the federal district court in San Diego ruled that although the practice of setting up impound accounts without approval may have suffered different outcomes for each potential class member, not all of them bad, they each were subject to the same allegedly damaging...
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