LAWSUITS NEWS & LEGAL INFORMATION
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Sort by date 1,812 pages found matching bank of america- Citigroup Securities Lawsuit Settled
Sep-22-12 New York, NY Citigroup has reportedly settled a securities lawsuit filed on behalf of shareholders who accused the financial firm of misleading shareholders about the firm's financial status, specifically as it related to subprime mortgage debt. Meanwhile, the Securities and Exchange Commission faces a lawsuit alleging it knew about securities fraud on... - Consumers Can "Opt Out" of Excessive Overdraft Fees
Jul-15-10 Rapid City, SD Lawmakers have pushed back against the banking industry to protect consumers from excessive overdraft fees . Now consumers will have to "opt in" to allow their bank to cover overdrafts. The law takes affect August 15 and will not allow any debit or ATM transaction that overdraw one's account to be processed unless he or she opts in for... - Massive Accounting Malpractice Award Tossed on Appeal, New Trial Ordered
Jun-28-10 Miami, FL A massive accounting malpractice case that has been in the pipeline for years is not over yet, after a Florida appeals court tossed out a $521 million jury verdict from 2007 and awarded a new trial. According to the Associated Press (AP) by way of the Miami Herald on 6/24/10, the Third District Court of Appeal ruled that the long-running lawsuit... - West Virginia Woman Sues Local Bank over Predatory Lending Allegations
Jun-14-10 Charleston,WV A woman from Cross Lanes, West Virginia, has filed suit against Flagstar Bank and one of its employees over alleged predatory lending practices related to the woman's mortgage. In the summer of 2007, Kathy Belcher approached the bank for a mortgage loan under a referral from a real estate agent. Belcher met with Flagstar loan officer L... - DOL Charges TPA Embezzled ERISA Plan Assets
Mar-18-24 Pittsburgh, PA On February 5, the Western District of Pennsylvania issued a Temporary Restraining Order barring RiversEdge Advanced Retirement Systems, LLC and Paul Palguta, the company’s sole owner and president, from accessing the assets of various ERISA retirement plans . The Department of Labor has accused the third-party administrator of... - Students Get a Break, But Prepaid Debit Card Fees Still an Aggravation
May-11-10 Atlanta, GA The world of consumer credit finance has exploded in recent years with the advent of prepaid debit cards such as the Green Dot Visa—a market segment known as "the underbanked" that is being courted more and more. Amy Errett, a partner with the venture capital and private equity firm Maveron LLC, writes in the 5/5/10 issue of VentureBe... - JPMorgan Agrees $16.7M Unpaid Overtime Settlement
New York, NY: A $16.7 million settlement has been agreed between JP Morgan Chase & Co., and plaintiffs in an unpaid overtime class action lawsuit. The settlement address claims made by assistant branch managers that Chase misclassified them as exempt from overtime, in violation of federal and state employment laws. There are four classes o... - Following Suit: Telemarketing Lawsuit Update
Feb-27-14 A recent Supreme Court decision involving a lawsuit brought against Arrow Financial Services LLC over alleged nuisance phone calls has put other similar businesses and telemarketers on notice. The high court’s decision effectively allows people who are annoyed by nuisance phone calls to sue in state and federal courts. Here we present an updat... - Illegal Towing Lawsuit News and Legal Information
Illegal towing and predatory towing is conducted by towing companies without the owner's consent. Predatory towers can overcharge, damage vehicles and often have monetary contracts with property owners to illegally tow vehicles from their property. llegal Towing and Predatory Towing Practices Some illegal practices include patrolling privat... - New Rules Put Limits on Overdraft Fees
Nov-16-09 Tacoma, WA For consumers who are tired of paying excessive bank overdraft fees , some relief is on the horizon. Next summer, new federal regulations will put limits on bank overdraft fees, requiring banks to notify customers before charging overdraft fees. According to the November 12 edition of the New York Times , the Federal Reserve's new rules w... - Two Brooklyn Health Care Agencies Settle Fraud Lawsuits
Apr-28-22 Brooklyn, NY Two Brooklyn Home Care Service agencies failed to cheat both the federal government and their health care aids and now they have to pay nearly $7 million in back wages and Medicaid payments following two settlement agreements with New York Attorney General Letitia James. In its news release (March 25, 2022), the Justice Department s... - Prepaid Debit Card Hidden Fees Hurt Consumers
Oct-31-09 Columbus, OH Prepaid debit cards are becoming increasingly popular. However, prepaid debit card companies are accused of using hidden fees to increase their profits. Customers and consumer protection groups say these prepaid debit card fees are hitting customers where it hurts—their wallet. Prepaid debit cards are reloadable cards, used by many... - Overdraft fees may be slowly bankrupting the elderly
Oct-30-09 Chicago, IL Consumers may want to keep a closer eye on their finances, as the rampant assessment of excessive bank overdraft fees have come under fire in the public and private sectors. A study recently released by the consumer watchdog organization the Woodstock Institute, claims that banking customers and people with outstanding loans are often unkn... - Consumers Pay the Price for Bank Overdraft Fees
Oct-14-09 Columbus, OH If you are like many people, chances are that you have at least once attempted to make a purchase with a bank card only to be informed that your account does not have enough money and the transaction is declined. A potentially embarrassing situation and one that the banks say they are preventing by automatically allowing people to run into ove... - 7-Eleven Franchisees Glorified Managers or Business Owners?
Apr-8-21 Los Angeles, CA Who is minding the store? 7-Eleven franchisees say they aren’t; they claim that Seven-Eleven, Inc. is in complete control and treats them like “glorified managers” rather than business owners. The franchise owners say they have been misclassified as independent contractors rather than employees. At the heart of this matt... - When Employers Fail, ERISA Laws Protect Employee Benefit Plans
Jun-26-09 San Francisco, CA When it comes to providing employee stock options, there are rules that employers must follow to ensure the stock options are run to the benefit of employees who invest in stock option plans. The Employee Retirement Income Security Act (ERISA) mandates that fiduciaries, that is people who manage stock option and other benefit plans, fol... - Jury Finds Former CEO Guilty in $110 Million Stock Fraud Case
Jul-20-11 New York, NY The former chief executive officer (CEO) of Industrial Enterprises of America Inc. was recently found guilty for playing a role in a $110 million stock fraud scheme, according to Bloomberg . The news source reports that James W. Margulies was convicted in New York State Supreme Court on a number of charges including conspiracy, larceny... - (Unfair Business Practice) of the Rich and Famous
Feb-20-09 Las Vegas, NV Sometimes it's the supplier under contract to keep your office stocked with paper failing to deliver, and leaving a long lineup at the photocopier without paper. And sometimes it's the developer of a luxury condo complex with a long lineup of disgruntled investors, some of them rich and famous, without condos. The inability to live up to a co... - LINA - Cigna Life Insurance Company of North America Disability Claims
The California Department of Insurance has reached a settlement agreement with Life Insurance Company of North America ( LINA ) to settle allegations that LINA committed disability insurance claims violations. To settle the LINA disability claims allegations, the life insurance company will pay a fine, change its claims handling policies and procedures a... - Financial Elder Abuse Law: Protecting Those Who Can't Protect Themselves
Sep-25-08 San Diego, CA As terrible as it is to conceive, sometimes those who violate financial elder abuse law are family members of the victims. These abusers know their victims well—they know their account numbers, they know their passwords and they know their habits. They know just about everything about the victim, which makes financial elder abuse seem l...