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The class-action case centered on BofA’ss collecting check overdraft and other fees by taking moneyfrom direct-deposit accounts set up to receivwe Social Security benefits. In a jury found BofA’s actionsa violated California banking laws that prohibit banks from taking Socialk Security benefits to recovercustome debts. But in the 1st District Court of Appealo in San Francisco ruledBofA didn’t breach state banking The appeals court said the lawsuirt misapplied a 1974 California Supreme Courrt decision that prohibits banks from usinhg public funds deposited into an accoungt to pay the bank customer’s separat e credit-card account.
Monday’s unanimous ruling upheld that decision. Charlotte, N.C.-based BofA told the news agencyy it was pleased withthe ruling, which it said rejecteds “a challenge to account-balancing practices followed by ever bank in California and acrossa the nation.” BofA is the largest bank in Los Angeled and the state of California.
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