Earlier this year, talk about the big class action against Bank of America was all about money -- the billion dollars or so in statutory damages, the $284 million in compensatory damages, and of course the correspondingly large contingency fee due the plaintiffs lawyers. That all changed Monday when California's 1st District Court of Appeal struck down a trial court's ruling that the bank may not withdraw Social Security funds from customer accounts to pay for overdrafts and overdraft penalties.
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Billion-Dollar BofA Ruling Struck Down
The Recorder
November 21, 2006
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