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Death by Delay – CFPB Defers Credit Union Overdraft Regulations into Indefinite Future

Death by Delay – CFPB Defers Credit Union Overdraft Regulations into Indefinite Future 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 ]

Home Depot Employees File ERISA Class Action Lawsuit over 401(k) Mismanagement

Home Depot Employees File ERISA Class Action Lawsuit over 401(k) Mismanagement 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.
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Are Missed Contributions Considered Plan Assets Under ERISA?

Are Missed Contributions Considered Plan Assets Under ERISA? 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.
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Big Banks Don’t appear to be Getting the Message over Excessive Banking Fees

Big Banks Don’t appear to be Getting the Message over Excessive Banking Fees 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.
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It's Alive! Class Action Lawsuit against Capital One Bank is Back On

It's Alive! Class Action Lawsuit against Capital One Bank is Back On 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.
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Plaintiffs Litigating ERISA Lawsuit v. Oracle Corp. Achieve Class Action Status

Plaintiffs Litigating ERISA Lawsuit v. Oracle Corp. Achieve Class Action Status 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.
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Are ER’s Cashing in on Upcoding?

Are ER’s Cashing in on Upcoding? 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.
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Creditor Held in Contempt of Court for Violating Automatic Stay

Creditor Held in Contempt of Court for Violating Automatic Stay 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.
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Plaintiffs in Class Action ERISA Lawsuit Allege Breach of Fiduciary Duties

Plaintiffs in Class Action ERISA Lawsuit Allege Breach of Fiduciary Duties 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.
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Despite Recent Settlements, Banks Still Bilking Consumers Out of Billions

Despite Recent Settlements, Banks Still Bilking Consumers Out of Billions 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 ]

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