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Sort by date 1,824 pages found matching bank of america- An Optimistic View on Auction Rate Securities
Jun-23-08 Las Vegas, NV Keith knew he had invested in a liquid asset that was easily accessible if needed, but it was only upon hearing the news of the failure of the auction-rate securities market that he discovered what kind of investment he actually possessed. "I had a sum of money that had matured from another investment, and it went into my broker's hands,... - $14.5M Comerica Bank Overdraft Fees Class Action Settlement Finalized
New York, NY: Final approval has been granted in the $14.5 million settlement of consumer fraud class action involving overdraft fees charged by Comerica Bank NA. The class action involved people who had been charged overdraft fees on their Comerica Bank accounts between 2004 and 2010. The Comerica overdraft class action lawsuit alleged the bank poste... - Force-Place Insurance FAQ
What is force-placed insurance? Force-placed insurance , also known as lendor-placed insurance, is insurance that has been placed by a lender, bank or mortgage servicer when the homeowner’s insurance is canceled, has lapsed or is not deemed sufficient (such as if the homeowner requires additional flood coverage but does not have that coverage on hi... - Force-Placed Insurance Lawsuits on the Rise
Insurance companies, banks and other financial firms face force-placed insurance lawsuits alleging their force-placed insurance is offered at outrageous rates because of the relationship between banks and insurance companies. Allegations have been made that force-placed home insurance is much more costly than traditional home insurance and could be a c... - Foreclosure Fraud Lawsuit News and Legal Information
Homeowners across the US were affected by foreclosure fraud in recent years. This foreclosure fraud may have involved faulty documents and/or procedures, which resulted in homeowners wrongfully losing their homes. Officials in numerous states are now investigating allegations of improper foreclosures against banks and, in some cases, other third parties... - Wells Fargo Ordered to Pay $203M in Overdraft Fees Class Action Settlement
San Francisco, CA: US District Judge William Alsup has issued an order to reinstate a $203 million judgment against Wells Fargo Bank. The judgment is based upon the court's findings, as affirmed on appeal by the Ninth Circuit, that Wells Fargo violated California's unfair competition law by deceiving its customers that debit card purchases would be posted... - 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... - Wells Fargo Loses Overdraft Fee Appeal
Apr-13-16 Washington, DC: Banks and credit unions fighting back against excessive overdraft fees lawsuits just lost another important round as the US Supreme Court refused to hear Wells Fargo’s appeal of an overdraft fees award. Lawsuits filed against banks and credit unions allege the financial institutions misled customers about their overdraft policies,... - 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... - 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... - 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... - 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... - Mortgage Loan Officers Entitled to Rest Periods
Jan-3-23 San Francisco, CA A California federal judge ruled that PNC Bank violated the California labor code by failing to pay mortgage loan officers for rest breaks. The complaint stems from an unpaid rest break lawsuit that was filed back in 2018. PNC Lawsuit Time Frame Aug 2018: Two months after plaintiff Tanseer Kazi filed the lawsuit, P... - 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... - What Now? Retirement Plan Cybertheft Is ERISA Lawsuit To Watch
Apr-3-23 New York, NY On October 6, 2021, when Paula Disberry submitted a claim for benefits from the Colgate-Palmolive Company Employees Savings and Investment Plan (Plan”), she discovered that $750,000 in retirement savings was gone. She’d been robbed. Plan fiduciaries tut-tutted that this was certainly a terrible thing, but insisted that they did no... - 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...