California Supreme Court
Jun. 3, 2009
Public Aid Can Be Seized For Bank Fees
The California Supreme Court wiped out a $1 billion judgment against Bank of America on Monday, giving the banking industry a big win at a time when banking practices are under intense scrutiny.
Daily Journal Staff Writer The California Supreme Court wiped out a $1 billion judgment against Bank of America on Monday, giving the banking industry a big win at a time when banking practices are under intense scrutiny. A unanimous court ruled that banks have the right to collect overdraft fees from customers who rely on Social Security and other government benefits, rejecting arguments that the practice violates public policy.
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