Class action vs BoA rejected in US

A lawsuit accusing Bank of America of reneging on promises to help distressed homeowners modify their mortgage loans, and instead driving them into foreclosure, cannot proceed as a class action, a federal judge ruled yesterday. While saying borrowers’ claims “may well be meritorious,” US district judge Rya Zobel said they were too different to justify allowing a single, nationwide lawsuit. The decision is a setback for homeowners accusing the second-largest US bank of failing to comply with a 2009 government programme that encouraged banks to help struggling borrowers keep their homes. Bank of America denies the allegations.