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Case ID: 3417 | Credit / Debt | 05/18/2004
The parties have reached a $1.65 million settlement in an administrative proceeding filed against Fairbanks Capital Corporation on behalf of nearly 40,000 Florida borrowers over claims that the company required illegal late fees and other charges. Persons eligible to take part in the settlement should contact the attorneys who prosecuted the action.
Among the illegal practices alleged by Attorney General Charlie Crist and Chief Financial Officer Tom Gallagher were that the company charged improper fees to borrowers who paid off mortgages early and made unwarranted charges for appraisals. Fairbanks also agreed to improve customer-service procedures and stop charging unjustified late fees. The settlement followed a national settlement with federal agencies in November 2003 that required the company to set up a $40 million fund to compensate tens of thousands of customers for similar alleged abusive practices. Refunds are expected to be sent in the next six months. 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 statewide class action has been filed in Indiana against collection specialists Weltman, Weinberg & Reis. The action is brought on behalf of all Indiana consumers who received standard form type collection letters from Weltman, Weinberg & Reis which failed to provide an accurate accounting of the consumer's outstanding debt. The action is brought under the federal Fair Debt Collection Practices Act and seeks statutory damages as well as injunctive and declaratory relief.
If you are having trouble paying all your bills, it might be best for you to consult a certified financial counselor before you make any decisions. A class action has been filed against Denver-based loan-buyout company EquityLink, LLC, on behalf of Colorado homeowners who allege that the company's "HomeSaver" program is actually deceptive and highly predatory, and violates state lending laws.
A class action lawsuit has been filed on behalf of loan originators at Kansas based Bank of Blue Valley, Inc. The loan originators claim that they were supervised, treated, and controlled in the same manner as employees, and required to work hours far in excess of 40 per week. Notwithstanding this, the originators claim, they were paid as independent contractors on a commission basis and the amounts paid were far less than what would be required for employees, for straight pay and overtime, under federal labor laws. The loan originators seek back pay and other damages. A class action lawsuit has been filed on behalf of uninsured patients who received and were billed for medical care by any hospital within the Seattle based Providence Health Systems network of hospitals. The suit contends that Providence billed its uninsured patients at rates far in excess of the rates employed for insured patients and that this practice was and is both discriminatory and illegal. A class action lawsuit has been filed in the Western District Court of Michigan against the law firm of Muller, Muller, Richmond, Harms, Myers & Sgroi, PC for violations of the Fair Debt Collection Act. The class seeks a declaratory judgment, an injunction, damages, attorney's fees and costs of the action. A South Carolina consumer filed a class-action lawsuit against the three national credit bureaus, charging that they allow a practice that lowers millions of individuals' credit scores. |
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