Keller Rohrback L.L.P. Investigates Bank of America Corporation for Potential Violations of the Federal Servicemembers Civil Relief Act

Attorney Advertising. Keller Rohrback is investigating Bank of America Corp. (NYSE:BAC), including its affiliate FIA Card Services (formerly and also known as MBNA), for potential violations of the federal Servicemembers Civil Relief Act (“SCRA”) and related abuses. The SCRA provides certain financial protections for military servicemembers who are on active duty or are deployed so that they can serve their country without being unduly distracted by their financial obligations. The SCRA covers most credit obligations, including but not limited to credit cards, auto loans, mortgage loans, and other lines of credit.

Keller Rohrback’s investigation focuses on alleged SCRA violations by Bank of America including among other things: overcharging for loans; setting interest rates above the SCRA’s statutory cap of 6%; charging improper late fees; and incorrectly applying credit card or loan payments to the total debt. These practices leave the interest-bearing principal higher than it should be and/or force servicemembers to pay more fees and interest than is allowed by law.

Some servicemembers affected by these alleged violations of the SCRA may have received correspondence from Bank of America, with a check enclosed, stating that the bank “may not have provided you with the level of service you deserve.” Some servicemembers also may have received from Bank of America tax forms referring to interest refunds.

Bank of America also was recently subject to a federal Consent Order after examination by the Office of the Comptroller of the Currency (“OCC”), which describes Bank of America’s SCRA violations in its sworn document and Collections Litigation processes, such as filing false affidavits in court, failing to follow proper notary public document-signing procedures, and failing to supervise its internal staff, third-party providers, and outside counsel in collections efforts. A prior government settlement described how Bank of America’s mortgage servicing subsidiary, BAC Home Loans, wrongfully foreclosed on servicemembers’ homes.

If you or your spouse were an active duty or deployed servicemember and you believe you were subjected to violations of the SCRA by Bank of America, FIA Card Services, MBNA, or any of Bank of America’s other affiliates or subsidiaries, please contact paralegal Philip Lewis or attorneys Gretchen Obrist or Beth Leland at 800.776.6044 or via email at info@kellerrohrback.com.

Keller Rohrback, with offices in Seattle, Phoenix, New York, and Santa Barbara, has over 85 years of experience successfully representing consumers against America’s top corporations. Among Keller Rohrback’s attorneys are accountants, economists, computer technology experts, and former U.S. Justice Department prosecuting attorneys. We are committed to helping those harmed by anti-consumer practices, and have achieved multimillion dollar results on behalf of classes of plaintiffs.

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