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Huntington Bank Sign

The Uniform Commercial Code (UCC) orders that banks may only pay items, such as checks, that are properly payable from customer accounts. The complaint for this class action, however, alleges that the Huntington National Bank refused to provide the protection mandated by the UCC to one of its customers, Majestic Building Maintenance. Why? Because the customer had not purchased the bank’s fraud prevention services. The complaint says this is a violation of the anti-tying provisions of the Bank Holding Company Act (BHCA).

Wells Fargo Logo

Wells Fargo is settling yet another class action with a $30 million payout. The complaint alleged that Wells Fargo violated the terms of the promissory notes underlying certain FHA-insured home loans when it collected post-payment interest without providing proper disclosure to borrowers who made prepayment inquiries, requested pay-off figures, or tendered prepayment.

Apple Federal Credit Union Logo

This complaint alleges that Apple Federal Credit Union (Apple FCU) charges overdraft (OD) fees for non-recurring transactions, even when they are supposed to refuse non-recurring transactions that would overdraw an account. Even more inexplicable, the complaint claims that Apple FCU charged OD fees even when statements show that an account never went into overdraft status. 

Landmark Credit Union Sign

Landmark Credit Union is settling a class action alleging that (1) it did not properly allow members to opt in to its overdraft program for ATM and debit card payments, and (2) it improperly charged customers overdraft fees when they had money in the “ledger balances” but not in the “available balances” of their checking accounts.

SEFCU Logo

Lately, a number of class actions have been filed that take issue with overdraft fees. At issue is sometimes the bank’s method of calculating the amount available in the account. The complaint for this class action also alleges that the bank did not provide customers with a proper opt-in for paying overdrafts according to the requirements of Regulation E of the Electronic Fund Transfer Act.

Flagstar Bank Branch

The complaint for this class action claims that Flagstar Bank failed to pay interest on mortgage escrow or impound accounts, as required by California law. 

Keyboard with Sign, "Warning. Ponzi Scheme."

Did Bank of America enable a Ponzi scheme involving over a hundred Bank of America accounts? The complaint for this class action claims the scheme was created and operated by the five conspirators and the companies they set up, but it involved the use of over one hundred Bank of America accounts. The complaint claims that the account activities should have raised red flags and alerted the bank to what was going on. 

Cards Printed with Different Interest Rates

Many people who hold mortgages are required by the mortgage companies to pay monthly amounts into an escrow or impound account. California law requires that the interest on these accounts be paid to the homeowner. However, the complaint for this class action alleges that Flagstar Bank, FSB or its parent Flagstar Bancorp, Inc., did not do this.

House with Foreclosure Sign

Did New Century sell a mortgage it did not in fact own? The complaint for this class action rests primarily on that allegation plus claims that amounts charged in connection with a subsequent foreclosure were excessive and improper. 

Banco Popular Logo

Banco Popular is settling a class action alleging that it helped cause customer overdrafts through three disputed practices. First, the complaint says, it did not provide a “real time” warning to customers that transactions would overdraw their accounts.

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