LAWSUITS NEWS & LEGAL INFORMATION
Financial Legal News Articles & Interviews
April 6, 2021. By Anne Wallace.
Read [ Credit Union of New Jersey Hit with Excessive Overdraft Fees Lawsuit ]
Camden, NJ Laronda Hickmond filed a bank overdraft fees lawsuit against Credit Union of New Jersey in New Jersey District Court on March 17. Hickmond v. Credit Union of New Jersey alleges that the credit union repeatedly charged Ms. Hickmond $30 overdraft fees even though, according to the monthly account statements prepared by the credit union, her account balance never dropped into the negative. She seeks class action status for the lawsuit on behalf of herself and all similarly situated accountholders.
April 1, 2021. By Jane Mundy.
Read [ Emergency Room Overcharges Attorney Helps—if you are Committed ]
Los Angeles, CA Attorney Barry Kramer may be able to get your emergency room services reduced, but his goal is to change the hospital system and stop ER overcharges for everyone. If you think your hospital has overcharged you for their services and you’re willing to go the distance, and if you want to make a difference and help others, read on.
March 31, 2021. By Anne Wallace.
Read [ Insufficient Funds Charges Threaten Small-Balance Accountholders ]
Albany, NY Excessive bank fees that are based on insufficient funds (NSF) charges may pose a greater threat to checking accountholders than overdraft fees. Recent lawsuits recognize that, without protections based largely in state contract law, consumers have little protection from NSF fees that result when checks or electronic payments that are presented and re-presented multiple times without the accountholder’s permission.
March 12, 2021. By Anne Wallace.
Read [ Texas Sues Griddy Energy for Deceptive Advertising ]
Houston, TX On March 1, the State of Texas filed a lawsuit in Texas state court, alleging that Griddy Energy LLC misled energy consumers in violation of the Texas Deceptive Trade Practices—Consumer Protection Act (DTPA). In the aftermath of the massive February winter storm, Griddy customers found themselves with the astronomical electrical bills. One Houston resident complained that Griddy debited her credit card $4,677 in one week for electricity in her 800 square foot, one-bedroom apartment: “I do not have the money to pay this bill. We need help.” Griddy also auto-debited hundreds, sometimes thousands, of dollars from consumers’ checking accounts in a period of days. These massive daily withdrawals triggered cascading bank overdraft fees.
February 28, 2021. By Jane Mundy.
Read [ Two Former Cardiologists Awarded $10.6 million for Reporting Patient Care Problems and Overcharging ]
Detroit, MI Tenet Healthcare was accused of acting with malice when a Michigan hospital demoted two cardiologists after the complained about cost-cutting measures, overcharging and substandard patient care. The doctors filed a False Claims lawsuit and retaliation is costly—to the tune of $10.6M.
February 27, 2021. By Anne Wallace.
Read [ Ninth Circuit Sends "High-Tech Debt Trap" Lawsuit to Arbitration ]
Los Angeles, CA On February 19, the Ninth Circuit held that a borrower, who found herself in what she described as a “high-tech debt trap,” must arbitrate her claims against the lender, having waived her right to sue. Marggieh DeCarlo was trying to build credit but instead found herself entangled instead in a ruinous web of loan charges, membership fees and bank overdraft fees.
January 6, 2021. By Anne Wallace.
Read [ Bank Overdraft Fees Lawsuit Stresses Lack of Consumer Sophistication, Unfair Process ]
Atlanta, GA On December 17, the U.S. Court of Appeals for the Eleventh Circuit heard oral arguments in Garcia v. Wachovia Bank, one of the bank overdraft fees lawsuits, consolidated in In Re: Checking Account Overdraft Litigation. The checking accountholders are appealing a September 2019 District Court decision that denied them the chance to proceed through a class action lawsuit, forcing them to arbitrate their claims individually. That would effectively end their chance to dispute excessive overdraft fees that resulted from Wells Fargo’s and Wachovia Bank’s practice of reordering checks from high to low amounts in order to maximize profits.
May 22, 2020. By Anne Wallace.
Read [ Mandatory Arbitration Amendments Thwart Excessive Overdraft Fee Lawsuits ]
Washington, DC Even with a promising bank overdraft fees lawsuit, checking account consumers can find themselves suddenly, unexpectedly blocked by an obligation to arbitrate disputes with a bank or credit union. Consumers are often not even aware that they have signed these agreements. Under recent U.S. Supreme Court rulings, that can be the end of a class action lawsuit.
April 22, 2020. By Anne Wallace.
Read [ JPMorgan Chase to Settle 401k Self-Dealing Lawsuit ]
New York, NY JPMorgan Chase has notified the Second Circuit that it will settle a class action ERISA lawsuit affecting as many as a quarter million 401k plan participants. Details of the settlement will be available by May 22, when the motion for preliminary approval is submitted to the court.
February 11, 2020. By Anne Wallace.
Read [ Supreme Court Sends IBM Stock Drop ERISA Lawsuit Back to Second Circuit ]
Washington, DC On January 14, the Supreme Court sent Retirement Plans Committee of IBM v. Jander, a much-watched ERISA lawsuit, back to the Second Circuit for further consideration of defensive arguments raised by the plan administrators. The decision is a setback, although perhaps not a fatal one, for participants in employee stock ownership plans (ESOPs) who claim that they have been injured because of corporate financial fraud. These “stock drop” lawsuits are one of several different kinds of 401k fiduciary mismanagement lawsuits.
- U.S. Supreme Court to Hear Oral Arguments in ERISA Breach of Fiduciary Duty Lawsuit By Anne Wallace (Jan-10-20)
- Dignity Health ERISA Lawsuit Inches Toward $100 Million Settlement By Anne Wallace (Dec-10-19)
- Goldman Sachs 401k Plan Participants file ERISA Lawsuit over Self-Dealing By Anne Wallace (Nov-21-19)
- Philadelphia Federal Credit Union Accused of “Gouging” Consumers with Multiple NSF Fees By Anne Wallace (Nov-11-19)
- Did the Ninth Circuit Gut ERISA Enforcement in Schwab 401k Mismanagement Lawsuit? By Anne Wallace (Oct-21-19)
- United Federal Credit Union Settles Excessive Overdraft Fee Lawsuit for $1.75 Million By Anne Wallace (Oct-16-19)
- Safeway 401k Plan to Settle ERISA lawsuit for $8.5 Million By Anne Wallace (Oct-9-19)
- USAA Bank Forces Individual Arbitration of Excessive Overdraft Fee Claims By Anne Wallace (Sep-17-19)
- Fiduciaries’ Desperate Drive to Fund Benefits Backfires By Anne Wallace (Sep-11-19)
- ERISA Lawsuit Charges Plan with Mismanaging Both High and Low Yield Investment Choices By Anne Wallace (Aug-23-19)
- VyStar Credit Union Accused of Assessing NSF Fees Multiple Times for Same Transaction By Anne Wallace (Aug-8-19)
- Fidelity 401k Fiduciary Lawsuits Consolidated in Massachusetts By Anne Wallace (Aug-7-19)
- Dignity Health Poised to Settle ERISA Lawsuit for $100 Million By Anne Wallace (Jul-30-19)
- Georgia Court of Appeals Affirms Class Action Status for Excessive Overdraft Fees Lawsuit By Anne Wallace (Jun-7-19)
- Did Northrup Grumman Squander ERISA Pension Money? By Anne Wallace (Jun-5-19)
- Expert in ERISA Lawsuit Stumped by Basic Questions By Anne Wallace (May-17-19)
- President (of Yale) Can’t Dodge Deposition By Anne Wallace (May-9-19)
- Online Lender Settles with FTC for $3.85 Million By Anne Wallace (May-8-19)
- Latest ERISA Lawsuit News – 401k Mismanagement Lawsuits Going Strong, New Settlement in Treatment Denial Case By Anne Wallace (Apr-26-19)
- $24.5 Million Settlement in Navy Federal Credit Union Excessive Overdraft Fees Lawsuit By Anne Wallace (Apr-23-19)
- Sickening Stock Drop Prompts Boeing 737 ERISA Lawsuit By Anne Wallace (Apr-19-19)
- Johnson & Johnson Talc Tribulations Spark ERISA Lawsuit By Anne Wallace (Mar-28-19)
- ERISA Lawsuit Claims Fidelity Investments Took Secret Kickbacks By Anne Wallace (Mar-11-19)
- Patients Battle Surprise Emergency Room Charges By Anne Wallace (Feb-20-19)
- Washington State Employees Credit Union Settles Excessive Overdraft Fees Lawsuit for $2.99 Million By Anne Wallace (Feb-15-19)
- Dockworkers’ ERISA Lawsuit Challenges Denial of Preapproved Benefits By Anne Wallace (Feb-14-19)
- Credit Unions – A Case of Shutdown Shame? By Anne Wallace (Jan-24-19)
- Employee 401(k) Lawsuit Claims GE Inflated Stock Value By Anne Wallace (Jan-15-19)
- Trustmark National Bank Latest Defendant in Excessive Overdraft Fees Lawsuit By Anne Wallace (Dec-21-18)
- SEI Investments Company Accused of Self-Dealing in 401(k) Mismanagement Lawsuit By Anne Wallace (Dec-12-18)
- Excessive Overdraft Fees Lawsuit against DFCU Survives Motion to Dismiss By Anne Wallace (Nov-23-18)
- Hacks, Embezzlements, and 401(k) Mismanagement – What You Can Do to Protect Your Retirement Nest Egg By Anne Wallace (Nov-17-18)
- Fidelity Faces Self-Dealing Lawsuit over 401(k) Plan Mismanagement By Anne Wallace (Oct-18-18)
- 401(k) Lawsuit Continues against Franklin Templeton By Anne Wallace (Oct-15-18)
- Digital Federal Credit Union Snared in Excessive Overdraft Fees Lawsuit By Anne Wallace (Oct-3-18)
- CFPB Moves to Protect Students from Overdraft Fees By Anne Wallace (Aug-28-18)
- Ninth Circuit Says Pension Plan Participants Cannot be Forced to Arbitrate By Anne Wallace (Aug-9-18)
- Time For Banks To Pay Up: Excessive Overdraft Fees Lawsuits Settled By Jane Mundy (Jul-27-18)
- Aon Hewitt Named (again) in Double-Dealing Retirement Plan Lawsuit By Anne Wallace (Jul-9-18)
- Credit Union Lawsuit Cites Excessive Overdraft Fees By Anne Wallace (Jun-20-18)