Judge: Competition Law Claims Based On Allegedly Unlawful Loan Reductions OK
SAN DIEGO – A man successfully alleges that a lender violated the unfair competition law (UCL) by reducing the value of his home equity loan based on faulty price evaluations, a California judge held Jan. 13 (Bryan Vess, et al. v. Bank of America, N.A., et al., No. 10-920, S.D. Calif.; 2012 U.S. Dist. LEXIS 4484).
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