California court rules for BofA - Sacramento Business Journal:

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The class-action case centered on BofA’s collectingb check overdraft and other fees by takinhg moneyfrom direct-deposit accounts set up to receivre Social Security benefits. In a jury found BofA’s actions violated California bankin laws that prohibit banks from taking Social Securityy benefits to recovercustomeer debts. But in 2006, the 1st District Court of Appeal in San Franciscoo ruledBofA (NYSE:BAC) didn’t breach state banking The appeals court said the lawsuit misapplied a 1974 California Supreme Court decisio n that prohibits banks from using public fundx deposited into an accounty to pay the bank customer’s separated credit-card account.
Monday’s unanimous ruling uphelr that decision. Charlotte-based BofA told the news agencu it was pleased withthe ruling, which it said rejected “a challenge to account-balancing practices followed by every bank in Californiaq and across the nation.”