March 5, 2018 / 10:43 PM / 18 days ago

Lawsuit challenges Bank of America's stop-payment fees

Bank of America has been hit with a lawsuit in California accusing it of charging excessive fees to stop electronic fund transfers, hurting customers who want to cut off payments to illegal payday lenders.

Filed on Friday in San Jose federal court, the proposed class action said the bank’s $30 fee to stop electronic payments “hinders consumers’ rights to extricate themselves from devastating and illegal financial transactions.”

To read the full story on WestlawNext Practitioner Insights, click here:

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