Legal News Articles - Financial
May 22, 2018. By Anne Wallace.
Washington, DC On May 10, 2018, the Consumer Financial Protection Bureau (CFPB) quietly scuttled proposed consumer overdraft protection regulations, moving them to the inactive list until some undefined, unknown day in the future when a permanent director is named. Meanwhile, banks and credit unions continue to rake in fees through questionable practices, including some arguably strained definitions of phrases like “not enough money.” Fortunately for consumers, the plaintiffs’ bar soldiers on, pursuing excessive overdraft fees lawsuits on their behalf.Read [ Death by Delay – CFPB Defers Credit Union Overdraft Regulations into Indefinite Future ]
May 9, 2018. By Anne Wallace.
Atlanta, GA On April 12, 2018, two Home Depot 401(k) plan participants, Jaime Pizarro and Craig Smith, filed an ERISA lawsuit in the U.S. District Court of the Northern District of Georgia. The complaint alleges that The Home Depot breached its duty to Plan participants in three ways: by choosing poorly-performing investment options, allowing investment advisors to charge unreasonable fees and ignoring a kickback scheme between an investment adviser and the plan’s record keeper. A nickel here, a buck and half there – it adds up.Read [ Home Depot Employees File ERISA Class Action Lawsuit over 401(k) Mismanagement ]
March 22, 2018. By Gordon Gibb.
San Francisco, CA: An ERISA lawsuit that alleged fiduciary failings on the part of principles involved with Accuracy Glass & Mirror Co. Inc. (Accuracy) was lost when appellate justices with the Ninth Circuit affirmed a lower court ruling that dismissed, in part, the pension plan lawsuit.Read [ Are Missed Contributions Considered Plan Assets Under ERISA? ]
March 19, 2018. By Gordon Gibb.
Manhattan, NY: When the 2nd US Circuit Court of Appeals returned an excessive bank overdraft fees lawsuit to the originating lower US District Court for the District of Manhattan for further proceedings – thus reviving the proposed class action lawsuit – the defendant in the case was told its overdraft fee rules were ambiguous, amongst other rulings that put the plaintiffs and those similarly affected back into the drivers’ seat.Read [ Big Banks Don’t appear to be Getting the Message over Excessive Banking Fees ]
February 18, 2018. By Anne Wallace.
New York, NY Tawanna Roberts's excessive bank overdraft fees lawsuit had all the familiar hallmarks. She claimed that she had a positive balance at the time she made the transactions that triggered the penalties, and that those penalties were made worse by Capital One's practice of reordering transactions to maximize what it could charge.Read [ It's Alive! Class Action Lawsuit against Capital One Bank is Back On ]
February 15, 2018. By Gordon Gibb.
Denver, CO: An ERISA lawsuit that had its beginnings in 2016 has been granted class action status in a certification that could benefit tens of thousands of class members. At issue are allegations that fiduciaries acting on behalf of defendant Oracle Corp. failed to uphold their fiduciary duties by investing in funds and other investments that failed to maintain the best interests of 401(k) Plan members and other investors, at heart.Read [ Plaintiffs Litigating ERISA Lawsuit v. Oracle Corp. Achieve Class Action Status ]
February 3, 2018. By Anne Wallace.
Washington, DC Since 2009 emergency room charges have jumped by as much as 85 percent. Are patients really sicker? Has the actual cost of care gone up that much? Are hospitals price-gouging? For both uninsured patients and those with big deductibles, the bottom line is the same – a gaping hole in the pocketbook.Read [ Are ER’s Cashing in on Upcoding? ]
January 26, 2018. By LAS Staff Writer.
Miami, FL (January 24, 2018) A Florida judge signed an order today holding creditor, IH5 Property Florida LP with GP IH5 Borrower GP LLC, more commonly known as Invitation Homes, in contempt of court for intentional violation of the automatic stay. Miami bankruptcy attorney, Timothy S. Kingcade’s client filed a Chapter 7 petition on November 30, 2017. Despite having notice of the bankruptcy filing, on December 5, 2017, the creditor, Invitation Homes, proceeded to file an eviction action against the client. Attorney Kingcade filed a motion to hold the landlord in contempt of court for violating the automatic stay. The motion adequately showed that Isamar Alers of Invitation Homes had actual knowledge of the bankruptcy on November 30.Read [ Creditor Held in Contempt of Court for Violating Automatic Stay ]
January 23, 2018. By Gordon Gibb.
Denver, CO: An ERISA lawsuit was filed at the end of November in Colorado alleging mismanagement of a stock fund that resulted in losses for the defined contribution plan participants.Read [ Plaintiffs in Class Action ERISA Lawsuit Allege Breach of Fiduciary Duties ]
January 19, 2018. By Gordon Gibb.
Washington, DC: When one looks back to 2017 and considers examples when banks have been called to account for excessive bank overdraft fees – including last November’s $66.6 million settlement to end a bank overdraft fees lawsuit against Bank of America – one would naturally assume progress is finally being made on an issue that has plagued Americans for years.Read [ Despite Recent Settlements, Banks Still Bilking Consumers Out of Billions ]
- Overdraft Fees Chewing Up Consumers By Brenda Craig (Dec-29-17)
- Are Continuous Overdraft Fees Like Illegal Payday Loans? By Anne Wallace (Nov-25-17)
- Bank of America to Settle Excessive Fees Class Action for $66.6 Million By Gordon Gibb (Nov-10-17)
- ER Bills and Hospital Overcharging: It’s Not Getting Any Better By Gordon Gibb (Oct-30-17)
- It Just Got Harder to Sue Your Bank for Excessive Overdraft Fees By Anne Wallace (Oct-30-17)
- Equifax Breach Led to Real Life Problems says Class Action By Brenda Craig (Oct-27-17)
- Wells Fargo Now Favors Arbitration in Long-Running Overdraft Fees Lawsuit By Gordon Gibb (Oct-16-17)
- California ‘Bad Faith’ Claim in Disability Denial Lawsuit By Anne Wallace (Oct-15-17)
- Unum Group Appears as Innocent Bystander in Insurance Denial Lawsuit By Gordon Gibb (Oct-13-17)
- Attorney Files Equifax Class Action Lawsuit By Jane Mundy (Sep-25-17)
- Banks Fight Excessive Overdraft Suits with Bid for Arbitration By Anne Wallace (Sep-8-17)
- Whistleblower Alleges Healthcare Fraud in Lawsuit By Gordon Gibb (Sep-7-17)
- Disgruntled Connecticut Account Holder Sues People’s United Bank over Fees By Gordon Gibb (Sep-3-17)
- Disability Insurance is not a Slam Dunk says Lawyer By Brenda Craig (Aug-15-17)
- Republican Lawmakers Want to Retract New Consumers Rights to Excessive Bank Fees Class Actions By Gordon Gibb (Aug-3-17)
- Tipsters Play Huge Role in Rooting Out Financial Fraud By Brenda Craig (Aug-2-17)
- Labor Department Orders Wells Fargo to Reinstate Whistleblower and Pay $577,000 in Back Wages By Deb Hipp (Jul-27-17)
- Denied Disability Plaintiffs Overdue for Unum’s Cutting Board? By Jane Mundy (Jul-20-17)
- Study Finds Consumers Complain Most About Banks With Highest Overdraft Fee Revenue By Deb Hipp (Jul-19-17)
- Sears Facing 401K Class Action Lawsuit By Lucy Campbell (Jul-19-17)
- The Best Strategy for Dealing with Proof of Disability Letters By Brenda Craig (Jun-7-17)
- An Award-Winning Employee Culture at Unum Can’t Stop Lawsuits By Gordon Gibb (May-27-17)
- Payments Flowing to State Sponsored Terrorism Victims, but Lawsuits Continue By Gordon Gibb (May-20-17)
- $8M Settlement Reached in Omnicare False Claims Suit By Lucy Campbell (May-18-17)
- BOK Financial $7.8 Million Class Action Settlement Headed For Final Approval By Deb Hipp (May-11-17)
- Calls for Increased Regulation of Car Title Loans Increasing By Gordon Gibb (May-5-17)
- Lack of State Oversight Prompting Texas City to Act By Gordon Gibb (Apr-24-17)
- Wells Fargo’s Pursuit of Arbitration a Waste of Resources: Plaintiffs By Gordon Gibb (Apr-24-17)
- Study Finds That People With Lowest Incomes Pay Most in Bank Overdraft Fees By Deb Hipp (Apr-11-17)
- New Law May Allow 9/11 Families to Take Saudi Government Officials to Court By Deb Hipp (Mar-21-17)
- The Predatory Lending Cycle of the Car Title Loan By Gordon Gibb (Mar-13-17)
- New Report Shows 10 Banks Account for 67 Percent of Overdraft Fee Revenue By Deb Hipp (Feb-28-17)
- Qui Tam Whistleblowers and Healthcare Fraud: “It’s a Completely Criminal Enterprise” By Jane Mundy (Feb-19-17)
- $15.3 Million Settlement over Predatory Lending By Gordon Gibb (Feb-10-17)
- Unfair Car Title Loans a Growing Trend By Gordon Gibb (Jan-8-17)
- California Overtime and the Almost Final Rule By Jane Mundy (Dec-24-16)
- Cash for Whistleblowers in the Health Care Industry By Brenda Craig (Dec-15-16)
- A Potpourri of New York Unpaid Wages Lawsuits By Gordon Gibb (Dec-12-16)
- Veterans Made to Repay Bonuses: Does this Jive with California Labor Law? By Gordon Gibb (Oct-26-16)
- Massive Yahoo Data Breach Revealed, Class Actions Pop Up Next Day By Gordon Gibb (Sep-28-16)