Navigation Federal Judge Dismisses EFTA Claim Against Bank of America in Stolen COVID-19 Unemployment Benefits Case
Finding PUA payments were qualified disaster relief payments, they satisfy the CFPB’s interpretation of Regulation E § 1005.2(b)(3)(ii)(B). The payments are excluded from the definition of “prepaid account,” and, thus, are outside of the EFTA’s definition of covered “accounts,” the federal judge concluded.
