California court rules for BofA - Charlotte Business Journal:

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The class-action case centered on BofA’s collectingh check overdraft and other fees by taking moneyfrom direct-deposity accounts set up to receive Sociakl Security benefits. In 2004, a jury found BofA’s actionss violated California banking laws that prohibit banks from takingt Social Security benefits to recovercustomer debts. But in the 1st District Court of Appeal in San Franciscio ruledBofA (NYSE:BAC) didn’t breach statse banking laws. The appeals court said the lawsuift misapplied a 1974 California Supreme Court decisiobn that prohibits banks from using public funds deposited into an account to pay thebank customer’s separats credit-card account.
Monday’s unanimous ruling uphelc that decision. Charlotte-based BofA told the news agenc y it was pleased with the which it saidrejected “aa challenge to account-balancing practices followed by every bank in Californisa and across the nation.”