Complaint Review: Bank of America, NA
Bank of America, NA Added Illegal Expiration dates to Revolving Lines of Cresit Small Business Loans Charlotte NC
*Consumer Comment: EXPOSURE IS A CORPORATION'S WORST FEAR...
*Consumer Comment: It is clear now..
*Author of original report: Who are you
*Consumer Comment: Actually looks like I am right on target...
*Author of original report: Your Wrong Robert
*Consumer Comment: Something is not right...
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In 2009 Bank of America Illegally added an expiration date to at least 4,230 former LaSalle Bank Small Business Express Lines of Credit. LaSalleBank was bought out by B of A in 2008. It is still being determined if this was being done on 100K plus additional small business loans of non-Lasalle origin. B of A has admitted in court that this was "intentionally undertaken" but has been using delaying tactics to drag this out.
These loans were originally written as revolving lines of credit with NO expiration date (similar to credit cards where someone can borrow up to a certain amount and pays down the loan with at least minimum payments and can then borrow again as needed).
I am currently the only "class representative" in this lawsuit against B of A and am initially looking for similar small business loan customers (LaSalle or Non-LaSalle) to join as class representatives in this lawsuit. My lawyers are on "contingency", so your participation involves no financial outlay. Without additional "class representatives", the class action portion of this case could be dismissed if something happens to me. I am 61 years old and have been involved in this suit since May, 2010.
If you had a similar revolving line of credit with B of A and was told this loan has an expiration date (or know someone) please e-mail me at email@example.com and I can have my lawyer contact you.
This report was posted on Ripoff Report on 12/05/2015 08:26 AM and is a permanent record located here: https://www.ripoffreport.com/reports/bank-of-america-na/nationwide/bank-of-america-na-added-illegal-expiration-dates-to-revolving-lines-of-cresit-small-bus-1272220. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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