Bank of America Settles Privacy Lawsuit for $1.9 Million
District Attorneys in Ventura, Los Angeles, Riverside, Alameda, and San Diego Counties recently announced a $1.9 million settlement of a civil case against Bank of America where the bank was accused of violating California's privacy laws. Bank of America was accused of failing to timely and adequately disclose its automatic recording of phone calls with members of the public. California law mandates each party participating in a confidential conversation be advised at the outset if a call is being recorded so that a participant can object or terminate the call if they do not wish to be recorded.
Under the terms of the settlement, Bank of America will pay civil penalties totaling $1.6 million and will reimburse the prosecutors' investigative costs of $240,000. In addition to the above penalties and investigative costs, Bank of America will contribute $100,000 to the Consumer Protection Prosecution Trust Fund, which is dedicated to advancing consumer protection and privacy rights.
California leads the nation with the most comprehensive, stringent and up-to-date privacy laws. Companies around the United States often have to comply with California privacy laws because their products, web or mobile sites are accessible to consumers in California. To conduct a review of your privacy policies, contact Selman's team of privacy and cyber attorneys who stand ready to help you navigate California's privacy landscape. View more information on our Cyber Law practice page.