Reported 6 months ago
The Supreme Court unanimously overturned an appeals court ruling that favored Bank of America, giving homeowners another opportunity to compel large banks to pay interest on mortgage escrow accounts. The decision pertains to New York and 13 other states with similar laws. The ruling emphasized the need for a nuanced analysis of federal and state statutes and highlighted the significance of consumer protection measures implemented after the 2008 financial crisis, such as the Dodd-Frank Act.
Source: YAHOO