|Tom Wolfe, Managing Partner of Moore Brewer Wolfe Jones Tyler and North|
KNOW HOW 'UCL' CAN AFFECT YOUR CU
updated 01/16/14 03:12 AM
Court Case Sheds Light on Issue
In Rose v. Bank of America, the California Supreme Court held that a claim under California’s Unfair Competition Law (UCL) may be based on violations of the federal Truth in Savings Act (TISA) even though Congress repealed the provision of TISA authorizing a private right of action.
The UCL is found in California Business and Professions Code §17200, et seq., and defines “unfair competition” as any business act or practice that is unlawful, unfair or fraudulent, as well as deceptive, unfair, untrue, or misleading advertising.