Georgion v. Bank of America Corporation

CourtDistrict Court, W.D. North Carolina
DecidedAugust 18, 2025
Docket3:22-cv-00618
StatusUnknown

This text of Georgion v. Bank of America Corporation (Georgion v. Bank of America Corporation) is published on Counsel Stack Legal Research, covering District Court, W.D. North Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Georgion v. Bank of America Corporation, (W.D.N.C. 2025).

Opinion

UNITED STATES DISTRICT COURT WESTERN DISTRICT OF NORTH CAROLINA CHARLOTTE DIVISION Civil Action No. 22-cv-00618-TMR-WCM

NANCY GEORGION, SUSAN PURDY, THAN SILVERLIGHT, CHRISTINA SMITH AND DONNA WILLIAMS, on behalf of themselves and all others similarly situated,

Plaintiffs, OPINION & ORDER

v.

BANK OF AMERICA, N.A.,

Defendant.

Dated: August 18, 2025

Andrew J. Brown and Brian J. Ellsworth, Law Offices of Andrew J. Brown, of San Diego, CA, and Rashad Blossom, Blossom Law PLLC, of Charlotte, N.C., for representative plaintiffs Nancy Georgion, Susan Purdy, Than Silverlight, Christina Smith and Donna Williams.

Matthew D. Benedetto, of Los Angeles, CA, Noah A. Levine, of New York, N.Y., and Benjamin Chapin, of Washington, D.C., Wilmer Cutler Pickering Hale and Dorr LLP, and Kobi K. Brinson, Winston & Strawn LLP, of Charlotte, N.C., for defendant Bank of America, N.A.

Timothy M. Reif, Judge, United States Court of International Trade:

Reif, Judge: Before the court is the motion to dismiss of defendant Bank of America, N.A. (“defendant” or “Bank of America”) and the Memorandum and Recommendation (“M&R”) of the Magistrate Judge, in which the Honorable W. Carleton Metcalf recommended that the court grant in part and deny in part defendant’s motion. For the reasons that follow, the court sustains defendant’s objections and

modifies the M&R, as described below. BACKGROUND Parties do not contest the factual and procedural background as related in the M&R. Therefore, the court summarizes the factual background only to the extent necessary to resolve defendant’s objections to the M&R. I. Parties Plaintiffs Nancy Georgion, Susan Purdy, Than Silverlight, Christina Smith

and Donna Williams (collectively, “plaintiffs”) are residents of the states of South Carolina, New York, California, Michigan and New Jersey, respectively, and each maintains personal savings and checking accounts with defendant. Am. Compl. ¶¶ 12-26, ECF No. 30. Defendant Bank of America is joint owner of Early Warning Services, LLC, a privately-held financial services company whose principal asset is Zelle. Id. ¶¶ 27-

28. Zelle is a popular money payment platform that facilitates peer-to-peer (“P2P”) instant payment services. Id. ¶ 28. Defendant has in turn integrated Zelle into defendant’s online and mobile banking platforms; therefore, defendant’s account holders have access automatically to Zelle when they open an account with defendant. Id. ¶¶ 28-29, 45. Although Zelle is similar to other P2P payment platforms, such as Venmo or Paypal, Zelle possesses one crucial difference: instantaneous payment. Id. ¶ 43. So, when a user attempts to transfer funds via Zelle, the transfer goes immediately from bank account to bank account, and no entity holds the funds while the transaction is verified or before the funds are

collected by the recipient. Id. Each plaintiff alleges that Zelle was used to transfer funds fraudulently from their accounts with defendant, and that defendant’s response to the transfers violated the Electronic Fund Transfer Act (“EFTA”), 15 U.S.C. §§ 1693-1693r. Id. ¶¶ 8, 12-26. As an illustrative example, Georgion alleges that in April 2022 she received a phone call from an individual identifying themself as an employee of defendant. Id. ¶ 13. That individual stated that they were investigating suspicious

transactions to Georgion’s account. Id. In that conversation, Georgion was deceived into providing account information to protect herself against the fictitious suspicious transaction. Id. Immediately thereafter, $2,000 was transferred out of her checking account via Zelle. Id. Georgion alleges that she did not initiate or authorize the transaction. Id. Then, after plaintiffs reported the transactions to defendant, plaintiffs allege

that defendant (1) investigated and concluded that the transactions in question were not “unauthorized transactions”; (2) failed to provisionally credit plaintiffs’ accounts; and (3) failed to reimburse plaintiffs’ accounts for the losses incurred. Id. ¶¶ 12-26. II. Plaintiffs’ claims The instant class action complaint asserts violations by defendant of the EFTA and various state consumer protection laws in defendant’s use and marketing

of the Zelle P2P payment platform. Plaintiffs’ amended complaint asserts ten causes of action. First, plaintiffs allege that defendant’s response to the transactions described in the amended complaint violated various aspects of the EFTA. Id. ¶¶ 131-152. Plaintiffs allege specifically that such transactions were “unauthorized transactions” under the EFTA and accompanying regulations, and that defendant in violation of the EFTA: (1) “knowingly and willfully failed to fulfill their obligations to investigate Plaintiffs’

unauthorized transactions and instead summarily concluded that the transfers of funds via Zelle . . . were not in error,” id. ¶ 146; (2) “did not investigate and determine whether an error has occurred and report or mail the results of such investigation and determination to [plaintiffs] within ten (10) business days,” id. ¶ 148; (3) “did not provisionally recredit the consumers’ account ten days after receipt of notice of error to investigate, for the amount alleged to be in error pending an

investigation,” id. ¶ 149; and (4) “refused to completely reverse or refund funds to Plaintiffs and Nationwide Class Members consistent with their obligations under Regulation E, § 1005.6.” Id. ¶ 150. In their second and third causes of action, plaintiffs allege that defendant breached the Online Banking Service Agreement (“OBSA”) and the implied covenant of good faith and fair dealing by “failing to maintain the safety and security of Plaintiffs’ and Class Members’ online banking, and by holding Plaintiffs and Class Members liable for unauthorized Zelle transfers.” Id. ¶¶ 156, 161. In their fifth and ninth causes of action, plaintiffs assert that defendant violated the

California False Advertising Law (“FAL”), Cal. Bus. & Prof. Code § 17500, and the New York General Business Law, N.Y. Gen. Bus. Law § 350, in “misrepresenting” defendant’s online and mobile banking services as “safe” and “secure,” and by misrepresenting that “customers will not be liable for unauthorized transactions.” Id. ¶¶ 182-187, 212-216. In their fourth, sixth, eighth and tenth causes of action, plaintiffs allege that defendants violated certain consumer protection laws of California, Cal. Bus. & Prof. Code § 17200, South Carolina, S.C. Code § 39-5-20,

New York, N.Y. Gen. Bus. Law § 349, and New Jersey, N.J. Stat. Ann. § 56:8-2, by, inter alia, “knowingly and intentionally making false or misleading representations that its online and mobile banking was ‘safe’ and ‘secure’, that Zelle was safe and secure, and that BOA customers would not be held liable for unauthorized transactions.” Id. ¶¶ 169-181, 188-195, 202-211, 217-226. Finally, in their seventh cause of action, plaintiffs allege that defendant breached the OBSA “with

fraudulent intent” in violation of South Carolina law. Id. ¶¶ 196-201. III. The Memorandum and Recommendation Defendant filed a motion to dismiss all of plaintiffs’ claims, and this court referred the motion to the Magistrate Judge. Def. Bank of America, N.A.’s Br. in Supp. of its Mot. to Dismiss the First Am. Class Action Compl. (“Def. Br. on Mot.

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Georgion v. Bank of America Corporation, Counsel Stack Legal Research, https://law.counselstack.com/opinion/georgion-v-bank-of-america-corporation-ncwd-2025.