Costoso v. Bank of America, N.A.

MEMORANDUM OF DECISION AND ORDER

SPATT, District Judge.

This action arises from the Defendant Bank of America, N.A. (the “BOFA” or “Defendant”) processing debits on its customers’ bank accounts from Payday Lenders it allegedly knew were making unlawful online payday loans in New York. According to the complaint, “[p]ay-day loans are short term high interest loans for small amounts of money that typically come due in a matter of days or weeks and require the borrower to provide the payday lender with access to their deposit account for repayment.” (Compl., at ¶ 2.)

The Plaintiff Jeanette Costoso…