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From the Editors of CU Weekly
KNOW HOW 'UCL' CAN AFFECT YOUR CU
|Tom Wolfe, Managing Partner of Moore Brewer Wolfe Jones Tyler and North
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Unfair Competition Law (UCL) may be based on violations of the federal Truth in Savings Act (TISA) even though Congress repealed the provision of TISA authorizing a private right of action.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.
Click here to continue reading the latest Legal column on Page 9 within the December/January edition of Credit Union Digest!