Bank of America Sued Over Credit Card Debt

Customers file lawsuit over bank’s credit card debt collection

Bank of America Sued Over Credit Card Debt
March 18, 2016

Customers who believe that they have been improperly sued by Bank of America (BoA) have filed a class action lawsuit against the financial institution. The suit alleges that BoA sued customers for unpaid credit card debt on debts that were securitized. These debts were sold, assigned, or transferred to a trust via credit card securitization, a financial move that resulted in BoA relinquishing its debt obligation.

Willard v. Bank of America, et. al was brought by G. Veronica Willard and was filed on March 15 in Pennsylvania’s Eastern District. The case alleges that BoA violated the Pennsylvania Fair Credit Extension Uniformity Act and the Fair Debt Collection Practices Act. It requests BoA pay punitive, actual, treble, and statutory damages along with injunctive and declaratory relief, attorney’s fees, the costs of suits, and other relief.

The complaint also outlines how BoA “sold” accounts from BoA proper to the Bank of America Consumer Credit Services, then to Bank of America Funding LLC, and, finally, to the Wilmington Trust Company. The trust company then wrote bonds that were placed into a number of tranches. BoA Consumer Credit Services continued to bill consumers and accept payments. BoA itself, however, had transferred all rights to the debt to the Wilmington Trust Company, so its entities no longer had the right to bill consumers or take any money from them for debts incurred using the credit cards.

The plaintiff’s attorneys are seeking to have the case certified as a class action.

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Kamie | 03.18.16 @ 17:38
I have seen a lot of suits against BoA. this one does not surprise me at all. I am not sure how they have been able to do all of this and still be a standing bank. This is some information that people who have had this happen need to look into.
Brittany | 03.18.16 @ 17:38
I had SO many problems with Bank of America back when they were my primary. so glad I've switched.
irene | 03.18.16 @ 17:39
Good! I got rid of my bank of america card due to poor customer service and charging me late fees when I was not even late
Erin | 03.18.16 @ 17:39
More problems for BoA? I'm glad I has stayed with our credit union. I'd rather deal with a small bank than these big conglomerates.
Carla | 03.18.16 @ 17:39
It sounds like BOA is in a lot of hot water. I'm glad our CC debt is paid off and we don't have to worry over this.
Kyle | 03.18.16 @ 17:40
I've been hearing a lot when it comes to issues with BofA lately. I don't think that looks very good for them. Plus, their customer service SUCKS.
Sarah | 03.18.16 @ 17:40
BoA is a joke. I had a CC with them years ago... so glad I paid that thing off and never looked back.
$commenter.renderDisplayableName() | 12.02.20 @ 02:41