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  • Check Re-presentment: What It Is and Why It Matters to You
    Apr-1-16 Washington, DC: You may have never heard of it. You may have never seen it either, or for that matter, given your permission for it. And yet you have potentially felt its sting without even knowing what it is. What’s more, that warm feeling that comes with assuming your banking and financial partners have your best interests at heart may have little...
  • PNC Bank NA Settles Forced-Place Insurance Lawsuit for $32.3 Million
    Feb-7-16 Miami, FL: Plaintiffs embroiled in a Lender insurance lawsuit against PNC Bank NA will have the opportunity to avoid the rigors of a trial and still receive what has been described as an excellent compensatory agreement following final approval of a settlement worth $32.3 million. The settlement will benefit some 130,000 plaintiffs who allege they w...
  • Bank of America to Pay $410M in Overdraft Fees Class Action
    Washington, DC: A preliminary settlement of $410 million has been approved in an excessive overdraft fees class action lawsuit brought against Bank of America. Preliminary approval was granted Monday by a federal judge in Miami. The overdraft fees lawsuit was brought by consumers who alleged that BoFA was manipulating debit transactions so as to...
  • HSBC Overdraft Lawsuit Nets $30 Million Settlement
    Nov-6-15 New York, NY: An excessive overdraft fees lawsuit filed against HSBC Bank USA has reportedly resulted in a preliminary settlement worth about $30 million. The $30 million settlement has been given preliminary approval by the judge, although the settlement is not without controversy. Other lawsuits have been filed against HSBC alleging the bank reordere...
  • Supreme Court Declines to Hear Airlines Meal & Rest Break Appeal
    Jul-26-22 Santa Clara, CA The U.S. Supreme Court at the end of June declined to take up Alaska Airlines appeal of a ruling that Virgin America – now part of Alaska Airlines-- had to give California-based flight attendants meal and rest breaks required by California labor law . The justices found that California's break requirements are not preempted by fe...
  • Credit Unions Not Immune to Charging Excessive Fees: Attorney
    Aug-22-15 Washington, DC It should come as no surprise that in an era of low interest rates, banks pick up the slack in terms of revenue diminished by the low rate environment by focusing more on fees charged to their clients. Fees include overdraft fees, and many an Excessive Overdraft Fees Lawsuit has focused on an all-too-common practice of re-ordering overdr...
  • Umpqua Bank Faces Overdraft Fees Class Action Lawsuit
    Portland, OR: Umpqua Bank is facing a consumer banking class action lawsuit, filed by California resident Amber Hawthorne, over allegations that the Portland-based bank unjustly enriches itself through the manipulation of overdraft fees. According to the lawsuit, Umpqua Bank decided when, whether and how to post debit transactions, and that it reg...
  • A Pre- and-Post-Settlement Funding Primer
    Oct-23-14 Farmington Hills, MI You wouldn’t ask an electrician to fix your leaky faucet, just as you wouldn’t expect your neighborhood roofer to figure out what’s wrong with your car. Such is the case with any attempt to secure pre- or post-settlement funding from a traditional bank: they don’t understand what they’re advancing a loan for. To a bank, a...
  • Insufficient Funds Charges Threaten Small-Balance Accountholders
    Mar-31-21 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 presente...
  • Idaho Cracking Down on Internet Payday Loans
    Nov-29-13 Boise, ID While Internet payday loans may be fast and convenient, critics suggest they are fraught with risk, while removing from the consumer various protections that are observed by storefront payday loan providers regulated by the state. In contrast, purveyors of payday loans attempt to skirt these regulations in various ways, while gaining access t...
  • CEO Severance, Federal Trust Bank pays former CEO James Suskiewich $2.6 million settlement
    Orlando, FL: (Nov-05-07) James Suskiewich, longtime CEO of the Federal Trust Bank, reached a settlement with the bank before he was recently dismissed. Sources claim that the Federal Trust Bank has incurred nearly $10 million in losses so far in 2007, but yet reached a deal with its top executive, paying him what they called a staggering amount, considerin...
  • Bank Loan Fraud, Law firm partner ordered to pay $250,000 fine for fraud
    Miami, FL: (Oct-08-07) The Office of Comptroller of the Currency (OCC), which regulates all national banks, brought charges against Carlos Loumiet, a Hunton & Williams partner, alleging that he helped the now-defunct Hamilton Bank hide losses from $20 million in Russian loans. The suit claimed that Loumiet engaged in unsafe or unsound practices, which cost...
  • Bank Scandal, Swiss bank pays Parmalat $30 million bankruptcy settlement
    Talk to a local bankruptcy lawyer right away! Chur, Switzerland: (Sep-27-07) Italian dairy giant Parmalat filed a lawsuit against Graubuendner Kantonalbank, a Swiss bank, seeking damages after the company collapsed in a 2003 fraud scandal. Parmalat Finanziaria SpA collapsed in 2003 under billions of dollars of debt following an accounting scandal. I...
  • First Indiana Bank NA Property Value Loan Discrimination Settlement
    Indianapolis, IN: (Jun-05-07) The National Community Reinvestment Coalition (NCRC) filed a racial discrimination lawsuit against First Indiana Bank NA, claiming that the Indiana bank discriminated against minorities by refusing to make loans on row houses in Baltimore, Philadelphia and Washington, DC. NCRC alleged that First Indiana Bank refused to make lo...
  • Mellon Bank: $18 million payout in federal tax returns malpractice suit.
    Pittsburgh, PA: (May-21-07) An investigation carried out by the US Attorney General Mary Beth Buchanan's office into the tax returns of Mellon Bank resulted in a settlement of more than $18 million to be paid to the federal government. The investigation stemmed from the destruction of thousands of federal tax returns. Mellon Bank agreed to cooperate with a...
  • Exploding Pressure Cooker Lawsuit Information and Legal News
    Recent consumer complaints about exploding pressure cookers have prompted multiple people who were injured while cooking with the steam-fueled pots to file federal pressure cooker lawsuits after suffering severe burns when the devices blew up while they were cooking. Pressure cookers are sealed pots that turn liquid into steam when heated, allowing foods...
  • Deutsche Bank Hit with Mortgage Lawsuit
    May-13-11 Los Angeles, CA : The Los Angeles city attorney recently filed a mortgage lawsuit against Deutsche Bank AG, claiming it was responsible for allowing a number of foreclosed properties to fall into disrepair. The Wall Street Journal reports that the lawsuit, which was filed in California state court, also accuses the bank of illegally evicting the sign...
  • Is Your Internet Payday Loan Provider Legal Where You Live?
    Jul-11-14 New York, NY It’s little wonder that more and more consumers strapped for cash and turning to the online payday loan industry for help, soon turn to a payday loan lawyer . That’s due to the number of online payday loans that are illegal: they are not licensed in the state to which their marketing is directed, and from which loans are sourced...
  • Overdraft Fees Waived During COVID-19 Pandemic
    Apr-2-20 Washington, DC Some banks are pitching in during the COVID-19 pandemic by forgoing overdraft charges and other actions that can support consumers. Banks aren’t known for their philanthropy:  In return financial institutions can earn credit toward their Community Reinvestment Act requirements (CRA).  The Federal Reserve, Federal Deposit...
  • AB 241 Would Bring Overtime Pay to Nannies
    Sep-24-13 Sacramento, CA Most people wouldn’t dream of walking out of a store with an item, and not paying for it. Or strolling into a dealer to test-drive a car, and never bringing it back. That’s stealing. And that’s exactly what employers do when they flaunt overtime pay laws and refuse to pay their workers overtime. The employer is stealing...
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