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Case ID: 3106 | Credit / Debt | 01/29/2004
A nationwide class action has been filed in Kentucky against mortgage insurance giant, Triad Guaranty Insurance Corporation. The action is brought on behalf of all U.S. residents who have obtained mortgage insurance from Triad at a less than best rate, and have not been informed that an adverse decision was made against them as a result of utilizing a credit report. The action is brought under the federal Fair Credit Reporting Act and seeks actual and statutory damages as well as injunctive and declaratory relief.
This action arises from what consumers claim is a corporate policy of Triad Guaranty to thwart the requirements of the federal Fair Credit Reporting Act. Under the act, anytime an adverse decision is made based on the use of a credit report, the entity making the decision must inform the consumer of the decision and must furnish them with the contact information for the credit reporting agency that provided the credit report. This requirement ensures that consumers can verify the accuracy of their credit information and, if need be, dispute the At Lawcash.com, it is our goal to keep you informed about important legal cases, class actions and settlements. Our lawyers offer free legal evaluations in tort cases, class actions, personal injury, and other lawsuits because we are dedicated to helping you resolve your legal complaints. Other Credit / Debt Cases of Interest A class action has been filed against Bon-Macy's, and credit services company FACS Group, Inc., on behalf of the store's credit card customers, who allege that the company has been charging them for credit card insurance that they did not authorize, in violation of state consumer protection laws. American Express Financial Advisors (AEFA), a division of American Express, was served August 1, 2005 with a motion that asked Federal Court in Arizona to certify a class of more than 500,000 former AEFA clients. The motion was filed by leading plaintiffs attorneys in Arizona. In the Class Certification motion, the former clients allege that AEFA violated fiduciary duties and perpetrated a scheme to defraud its investing clients through the Company's sale of Financial Plans. A statewide class action has been filed in Florida against mortgage service specialist, Green Tree Servicing, LLC. The action is brought on behalf of all Florida residents whose mortgage was transferred to Green Tree for servicing and who did not receive a notice of transfer within the federally mandated 15 day period. The action is brought under the federal Real Estate Settlement Procedures Act and seeks a minimum of $1000 in statutory damages per class member as well as compensatory damages where appropriate. A class action has been filed against Attorney Arthur S. Corrales of Florida by Marie Charlys of New York for falsely representing T-Mobile in debt collection activity in violation of the Fair Debt Collection Act. Charlys seeks statutory damages, costs and attorney's fees. Federal credit and banking laws prohibit credit providers from discriminating based on ethnicity, national origin, or race. The parties have reached a tentative settlement in a nationwide action filed against General Motors Acceptance Corporation on behalf of African Americans who allege that, as a result of company policies, dealers routinely charged black consumers higher interest rates on auto loans than whites with similar financial histories in violation of the federal Equal Credit Opportunity Act. Persons eligible to take part in the settlement should contact attorneys for the class for more information. A class-action lawsuit was filed on behalf of an Arkansas man and others against out-of-state debt collectors because the companies allegedly did not register with the Arkansas State Board of Collection Agencies.
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