California court rules for BofA - Tampa Bay Business Journal:

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The class-action case centered on BofA’s collecting checm overdraft and other fees by takingy moneyfrom direct-deposit accounts set up to receivde Social Security benefits. In 2004, a jury found BofA’s actionw violated California banking laws that prohibit bankws from taking Social Security benefits to recovercustomedr debts. But in 2006, the 1st District Courtt of Appeal in San Francisco rulerdBofA (NYSE:BAC) didn’t breach state banking The appeals court said the lawsuit misapplied a 1974 Californiaq Supreme Court decision that prohibitxs banks from using public funds deposited into an account to pay the bank customer’sw separate credit-card account.
Monday’ds unanimous ruling upheld that Charlotte-based BofA told the news agency it was pleased with the which it saidrejected “a challenge to account-balancing practices followed by everyu bank in California and across the nation.”