Class of Loan Officers Sues BofA

     SAN FRANCISCO (CN) – A class of mortgage loan officers claims Bank of America cheated them of income in a number of ways, including issuing $500 “discount mortgage coupons” to customers, and deducting that money from their commissions.




     The class claims BofA also forced its loan officers to pay their assistants’ salaries without reimbursement, to pay for office supplies, equipment and travel, and that BofA offered the same products and services on the Internet for lower fees, so that the loan officers “were forced to cut their commissions, which was their only source of income, in order to compete with the very defendant company for which they worked.”
     Plaintiffs are represented in Federal Court by Mark Thierman of Reno, Nev.

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