January 02, 2020
Bank of America NA has agreed to pay $35 million to resolve a proposed borrower class action accusing it of ignoring a California requirement to pay interest on mortgage escrow accounts.
October 30, 2019
Bank of America NA has reached a tentative deal to settle a proposed borrower class action accusing it of ignoring a California requirement to pay interest on mortgage escrow accounts, a case that has raised questions about national bank preemption powers and almost went to the U.S. Supreme Court.
October 25, 2019
A former Bank of America NA borrower said Thursday that the bank's bids to beat or delay his putative class action are yet another "apparently ceaseless effort to avoid answering for its willful violation" of a California state-law requirement to pay interest on mortgage escrow accounts.
September 30, 2019
Bank of America NA has mounted a full-court press in California federal court to shut down a proposed class action accusing it of ignoring a state-law requirement to pay interest on mortgage escrow accounts, arguing that federal preemption is still fatal to the case after its trip to the Ninth Circuit.