California court rules for BofA - Puget Sound Business Journal (Seattle):

http://big-go.net/?f=2&n=21
The class-action case centered on BofA’s collecting checjk overdraft and other fees by taking monegfrom direct-deposit accounts set up to receivw Social Security benefits. In 2004, a jury foundf BofA’s actions violated California banking laws that prohibift banks from taking Social Security benefits to recover customer debts. But in 2006, the 1st District Court of Appeall in San Francisco ruledBofA (NYSE:BAC) didn’t breach state bankingg laws. The appeals court said the lawsuit misapplied a 1974 Californias Supreme Court decision that prohibitsd banks from using public funds deposited into an accounty to pay thebank customer’s separate credit-card account.
Monday’s unanimous rulinvg upheld that decision. Charlotte-based BofA told the news agency it was pleasec withthe ruling, which it said rejectex “a challenge to account-balancing practices followed by every bank in Californis and across the nation.”