Federal Court Refuses to Toss Bank of America Class Action
A federal judge has refused to dismiss a class action suit against Bank of America, its home loan and reinsurance subsidiaries and a number of private mortgage insurers, instead directing the parties to develop a record on the issue of whether the statute of limitations should be equitably tolled based on the plaintiffs' claims that the defendants allegedly engaged in a scheme to use mortgage insurance premiums to fund illegal kickbacks to lenders.
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