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Hands Offering Mortgage Paper and Pen

LoanCare, LLC is a mortgage lender who makes loans secured by real estate in California, so the complaint for this class action says it must follow the California law, including the law requiring it to pay borrowers a minimum of 2% interest on money put in impound escrow accounts. LoanCare appears not to do so, and the complaint claim that the company has violated California’s Unfair Business Practices Act and breached its contracts. 

PNC Bank Branch

When Plaintiff Jacqueline Pfendler got behind on her mortgage, she stayed in communication with PNC Bank, the servicer, the complaint for this class action alleges. However, the bank scheduled a drive-by inspection, the complaint says, and required her to pay for it. Then, despite her payment, the complaint says, less than a month later they did it again. Such inspections have no other purpose, the complaint says, than to determine that the property has not been abandoned, and they are therefore not necessary, reasonable, or appropriate.

Bank of America Branch

Bank of America has decided to settle a class action alleging that the extended overdrawn balance charges it charged customers violated the National Bank Act’s usury limit. 

Citizens Bank Logo

Citizens Financial Group, Inc. and Citizens Bank, NA will be paying back to customers annual fees it incorrectly levied on their Home Equity Line of Credit (HELOC) or Line of Credit (LOC) accounts with Citizens Bank or Charter One Bank. 

TD Bank Logo

Plaintiff Britney Lawrence has an account and debit card with TD Bank, NA. Two documents for the account both promise customers that the bank will refuse debit charges for non-recurring expenses that would overdraw the account, unless they specifically opt into the bank’s Debit Card Advance Program. However, according to the complaint TD Bank honors debit transactions and charges overdraft fees when the business involved is Uber or Lyft so that even though Lawrence had not opted in to the program, the bank accepted debits for two ride shares, a total of less than $16, and charged her $70 in overdraft fees.

House with Foreclosure Sign

In January 2008, Plaintiffs Wyatt Duncan and Tykecia McCormick-Duncan obtained a mortgage loan for a home in Maryland. Unfortunately, in February 2015, they allegedly went into default, and their home was eventually sold at auction, after action by the then-assignee of the note, the Ajax 2016 Trust. The complaint makes a simple claim but one that could have far-reaching consequences: that the Duncans’ mortgage was a consumer loan, and that, since the loan was in default, the Ajax Trust was a collection agency and subject to the Maryland collection agency licensing laws. Since it is not licensed, the complaint claims, its actions in foreclosures and other types of collections should be void.

Bank of America Branch Sign

Bank of America is paying nearly $42 million to settle claims that it violated the Servicemembers Civil Relief Act, the Truth in Lending Act, North Carolina’s Unfair and Deceptive Trade Practices Act, as well as common law, by charging service members and their families excessive interest rates on mortgages, credit card accounts, and other interest-bearing obligations, and by attempting to hide

Bank of the Ozarks Corporate Headquarters

The Bank of the Ozarks has reached a settlement to compensate Arkansas account holders for allegedly unjust overdraft fees charge for debit card transactions. The complaint alleges that the bank processed debit card transactions not in the order in which they were incurred but from the largest to the smallest, so that it could charge more overdraft fees. 

BB&T Logo

Christine and Ronnie Gillam took out loans, and, according to the complaint for this class action, and were required as part of the loan agreement to permit automatic transfer payments from their BB&T bank account. When they learned that the loans were predatory and illegal under the laws of their state, Virginia, they attempted to stop the payments, but BB&T made the payments anyway—and, the complaint claims charged them overdraft fees for the payments as well. The complaint alleges that this violates the EFTA and that BB&T must be responsible for the payments made despite the cancellations.

Foreign Exchange Rate Board

This settlement resolves allegations against some, but not all, of the defendants in this class action, with a total settlement fund of over $2 billion. The complaint alleges that a number of banks and other entities conspired to fix foreign exchange prices, in violation of the Sherman Antitrust Act, and to manipulate the foreign exchange market, in violation of the Commodity Exchange Act.