BofA Hit With Proposed Class Action Over Card Fraud Policy

By Katryna Perera (August 19, 2022, 8:17 PM EDT) — Bank of America has been hit with a proposed class action alleging it does not properly investigate unauthorized card use claims and instead places liability for such transactions on the cardholder in violation of the Truth in Lending Act.

Ji-Hye Park filed a complaint in Hawaii federal court Thursday on behalf of all other Bank of America customers who are similarly situated under an alleged systematic policy by the bank to hold cardholders liable for unauthorized transactions.

Park said she received a “fraud alert” text message from Bank of America in January asking whether she had used her bank card for…

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