If You Applied For A Home Equity Loan Or Mortgage Loan From Bank Of America Between May 28, 2006, And July 11, 2009, You May Be Entitled To Money From A Class Action Settlement.
A class action settlement has been reached in a class action lawsuit against Bank of America, N.A. (“Bank of America” or “Defendant”) in the United States District Court for the Western District of Virginia (styled Domonoske v. Bank of America, N.A., Class Action Case No. 5:08CV00066), alleging, among other things, that delays in sending required credit score disclosures to applicants for a mortgage loan or home equity transaction violated the Fair Credit Reporting Act FCRA because they were not sent as soon as reasonably practicable, as required by 15 U.S.C. § 1681g(g), according to the Bank of America Home Equity Loan & Mortgage Loan Credit Score FCRA class action settlement website and class action settlement notice.
Bank of America Home Equity & Mortgage Loan Credit Score FCRA class members reportedly include all persons, unless otherwise excluded, whose:
Loan application was processed between August 8, 2006, and September 12, 2008, on the computer system primarily used for home equity loans and lines of credit, known as “ACAPS”, and the credit score disclosure was triggered on that system more than three days after receipt of the application; or
Loan application was processed between May 28, 2006, and July 11, 2009, on the computer systems primarily used for certain mortgage loans, known as the “Legacy Bank of America” systems, and that application resulted in a loan being made to the class member.
The proposed Bank of America Home Equity Loan & Mortgage Loan Credit Score FCRA class action lawsuit settlement reportedly provides for, among other things, a common fund of $9,950,000 to pay all Class Members who timely submit valid claim forms (by February 18, 2011) and the costs and attorney’s fees of the case.
The Court will reportedly hold a class action settlement Fairness Hearing at 11:00 a.m. EST on March 31, 2011, at the United States District Court for the Western District of Virginia, 116 North Main Street, Harrisonburg, Virginia, 22802 to consider whether the Bank of America Home Equity Loan & Mortgage Loan Credit Score FCRA settlement is fair, reasonable, and adequate.
For more information about the Bank of America Home Equity Loan & Mortgage Loan Credit Score FCRA class action lawsuit settlement, including information about how to participate in, be excluded from (or opt out of) or comment on or object to the settlement, visit the Domonoske v. Bank of America class action settlement website:
www.creditscoresettlement.com
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