Bank of America must face cardholder allegations that it bungled its response to unauthorized transactions on unemployment and disability benefits cards in California during the pandemic, a San Diego judge ruled on Thursday.
must face cardholder allegations that it bungled its response to unauthorized transactions on unemployment and disability benefits cards in California during the pandemic, a San Diego judge ruled on Thursday.
The cardholders also claim Bank of America broke federal law by failing to investigate fraud claims or summarily freezing tens of thousands of accounts.The bank previouslyMichael Rubin, an attorney representing the cardholders, called the ruling a "huge victory." They also say the bank violated California's consumer privacy law by issuing cards with outdated magnetic stripes, rather than chip technology, leaving them subject to fraud.
The judge dismissed claims that the bank violated California's Unfair Competition Law and that it breached its contract with the state.$225 million to two U.S. regulators to settle claims that its fraud detection program improperly froze thousands of benefits accounts in 2020 and 2021.
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