
The U.S. Supreme Court has declined to review a Ninth Circuit ruling reinstating a proposed consumer class action against Bank of America over its allegedly predatory lending activities. As reported by Law 360, the banking giant’s failed attempt to get the ruling reviewed leaves in place a Ninth Circuit panel ruling from earlier this year that reinstated a proposed consumer fraud class action brought against Bank of America NA by lead plaintiff Donald Lusnak, a California homeowner. According to Law 360, the suit “sought to force the North Carolina-based bank to comply with a California law requiring mortgage lenders to pay at least 2 percent interest on borrowers’ escrow accounts.” [Read more…]