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BRIEFLY

November 06, 1987

A superior court judge conditionally approved a settlement in a 10-year-old class action suit against Bank of America over its charges for bounced checks, despite strong opposition from a bevy of attorneys. Judge Roy L. Wonder of San Francisco set Feb. 16, 1988, as the date for a full-fledged hearing to decide whether to approve the settlement. Attorneys for the bank and plaintiffs said the settlement will aid consumers by giving more than 10 million current and former bank customers $25 each in free services, providing $2.5 million for consumer education and $10 for low-cost housing. But other lawyers, who are involved in similar suits against other banks, are challenging the settlement, saying it will give consumers little and costs the bank virtually nothing.

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