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Lawsuit says Bank of America failed to correct credit reports

Bank of America has been hit with a proposed class action accusing it of violating federal laws by failing to properly investigate when consumers dispute the mortgage payment information it reports to credit bureaus.

Filed on Thursday in Roanoke, Virginia federal court, the lawsuit said the bank “does not conduct a substantive review of any sort” when consumers point out errors, but leaves damaging material on credit reports that can hurt their ability to get loans.

To read the full story on Westlaw Practitioner Insights, click here:

JPMorgan Chase, Bank Of America Agree To Wipe Debt Cleared By Bankruptcy From Credit Reports (read full story...)

via Reuters

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