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Sort by date 1,812 pages found matching bank of america- $3M Settlement Reached in Bank of America Bad Faith Insurance Class Action Lawsuit
Santa Clara, CA: A $3 million settlement has received preliminary judicial approval, potentially ending a bad faith insurance class action lawsuit pending against Bank of America (BofA). The lawsuit, brought in April 2013, alleges that BoFA withheld monies due on insurance claims. The suit named BofA and its predecessor, BAC Home Loans Servicing LP,... - It's Alive! Class Action Lawsuit against Capital One Bank is Back On
Feb-18-18 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. But for a... - AIG, Lehman Brothers and Merrill Lynch: A Turbulent Week
Sep-18-08 New York, NY It has been a week of shocking news for the financial industry, particularly involving AIG, Lehman Brothers and Merrill Lynch. One company has been taken over by the fed while another declared bankruptcy. The third institution has been bought out by Bank of America. And while things appear to have leveled off a bit, investors wonder if thi... - Wages and Overtime Suit Filed Against Bank of America
A lawsuit has been filed against Bank of America, N.A. (BOA) on behalf of telephone-dedicated employees for unpaid wages and overtime worked at company call centers across the country. The lawsuit was filed as a collective action, which means that other Bank of America employees with similar job duties may join the case to seek their unpaid wages. The... - The Impact of IOLTA Funds
Jan-3-23 Santa Clara, CA The Interest on Lawyers' Trust Accounts, or IOLTA, enables lawyers to raise funds with charitable intent. Although the charitable purpose can vary, it is frequently used as a way to help provide civil legal services. This isn’t a typical bank account. Several federal banking changes passed in Congress back in 1980, and al... - Bank of America to Acquire Merrill Lynch
Brokerage House Rescued Bank of America announced Monday morning that it would buy the ailing Merrill Lynch, in an all stock transaction worth approximately $50 billion. The purchase will make Bank of America a direct rival of Citigroup Inc., in terms of size of assets. Under the terms of the deal, Merrill Lynch shares are valued at $29 per share,... - The Class-Action Ban-Wagon and What It Means to Consumer Protection Laws
Nov-8-15 Rohnert Park, CA: Consumers are becoming increasingly affected by a massive change in the options people have to fight unfair practices like consumer fraud undertaken by corporations and service providers, without even realizing it. What’s more, the legal pathway that provides corporations with what many pundits call a “get-out-of-jail-card” begi... - TD Bank Reaches $9.9M Unpaid Overtime Class Action Settlement
Los Angeles, CA: A tentative $9.9 million settlement has been reached in an unpaid wages and overtime class action lawsuit pending against TD Bank NA. The class and collective action claims that the bank failed to pay assistant store managers overtime wages. The settlement fund includes service payments, attorneys' fees and costs and other exp... - Oman v. Delta Airlines is Done. Virgin America v. Bernstein Looms on the Horizon
May-20-22 Washington, DC On January 10, the U.S. Supreme Court denied Delta Airline’s petition for certiorari, in which it sought review of the question of whether the Constitution’s Article I Commerce Clause and the federal Airline Deregulation Act (ADA) exempted airlines from California labor law’s wage and hour regulations. This left inta... - Utah Bank Sued Over Excessive Overdraft Fees
Oct-14-11 Salt Lake City, UT A group of angry customers has filed a lawsuit against Zions Bank in Utah, as the class-action group is protesting the institution's implementation of excessive overdraft fees , The Associated Press reported. The lawsuit was filed by three law firms on behalf of Melinda Barlow, a Sandy, Utah resident and other customers who were... - Fired Bank Whistleblower Fights Back in New Jersey
Nov-10-09 East Brunswick, NJ In May of last year, bank employee and whistleblower Richard Boywitt approached his boss about a potential money-laundering scheme involving a bank client and two tellers. As the Bank Secrecy Act Compliance Officer for Brunswick Bank and Trust, it was his job to report any suspicious activity. He was fired. Boywitt launched a w... - Green Dot Visa And Prepaid Debit Card Fees
The Green Dot Visa is a prepaid debit card that can be purchased online or through a local merchant. A prepaid debit card differs from a credit card: with a Green Dot prepaid debit card the consumer deposits money into the account and it is 'reloadable', meaning that if the balance is depleted, the cardholder has the option to make another deposit into... - Banks Violating CARES Act Lawsuit New and Legal Information
Since the CARES Act (also referred to as the Paycheck Protection Act, or “PPP”) rolled out on April 3, 2020, COVID-19-affected small businesses have claimed that banks processed loan applications to benefit themselves, rather than on the “first-come, first-served” basis, as the law requires . Defendants include Bank of America, JP... - Relief from Excessive Bank Overdraft Fees Could Be Short-Lived
Jul-10-10 Charlotte, NC As new federal laws governing excessive bank overdraft fees come into effect, banks will attempt to replace lost revenue by charging a variety of other fees, according to the 7/3/10 issue of the San Jose Mercury News. The updated guidelines basically take the surprise out of the equation for the bank customer, although the steep cost... - Three litigation theories of excessive bank overdraft fee lawsuits
Apr-10-20 Ft. Lauderdale, FL When people come to talk to Jonathan Streisfeld, a KO partner, about excessive bank overdraft fees and returned item fees, “they feel frustrated with the number of fees assessed on what should be a small dollar transaction. They are confused about their bank’s practices.” More than anything, they just want their money b... - Overdraft Fees Chewing Up Consumers
Dec-29-17 Washington, D.C. A new report from Pew Charitable Trusts released on December 20, 2017 documents the burden overdraft fees continue to place on the shoulders of consumers. Although the banking industry has made some voluntary changes regarding overdraft fees Pew reports that American consumers are still paying $14 billion annually in overdraft fe... - Internet Payday Loans
anks and smaller financial institutions have been accused of becoming involved in Internet payday loans , short-term loans offered over the Internet that carry high interest rates. Although the banks themselves do not offer Internet loans , they may be allowing companies that do offer the loans to engage in predatory online loan activity, possibly in vio... - Ohio Employment Class-Action Lawsuit Trial Scheduled for November
Feb-23-13 Cincinnati, OH What appears to be a complicated Ohio Employment lawsuit is moving forward with the granting of class certification status for litigation initiated on behalf of Mortgage Loan Officers (MLOs) employed in the state of Ohio and, specifically, by Fifth Third Bank. The issue is overtime and exemption status. According to various sources, M... - TD Bank Facing Excessive Overdraft Charges Class Action Lawsuit
Santa Clara, CA: TD Bank is facing a potential class action lawsuit alleging it “unlawfully” applies overdraft fees that penalize customers who don’t replenish their overdrawn bank accounts within 10 days. Filed on behalf of Shaina Dorsey and all those similarly situated, the lawsuit contends that the sustained overdraft charge... - Forced-Placed Insurance Lawsuits to Remain in Miami
Sep-6-13 Miami, FL With various Forced-Placed Insurance Banks accused of forcing premium-rich but coverage-poor insurance policies on homeowners, the tables have been turned after a multidistrict litigation panel based in Maine forced the retention of about a dozen Force-Placed Insurance Bank lawsuits in the Miami area. According to the South Florida Busine...