September 2013

Bank of America just reached a record settlement in a case where it was accused of sending harassing debt collection “Robocalls” to customers’ cell phones. The $32 million settlement includes a provision directing Bank of America to desist from calling its clients’ cell phones without prior approval which may affect 7.7 million credit card holders and mortgage loan customers. Sallie Mae held the previous settlement record ($24 million) for violations of the Telephone Consumer Protection Act.