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Before you enter into a mortgage agreement, read the entire contract very carefully--if you need to, get an unbiased professional to go over it with you. The parties have reached a tentative settlement, apparently valued at $1.2 million, in an action filed against Ameriquest Mortgage Company on behalf of borrowers who allege that the company miscalculated the amounts of the borrowers' prepayment penalties for paying off mortgages that were taken out between September 1998 and October 2001 on California property. The claims deadline has been extended from December 9, 2003, to July 30, 2004. Claims must be submitted by the new date to be considered valid.”

Chevy Chase Bank has settled a seven-year-old class-action lawsuit that could affect hundreds of thousands of credit card holders who say they were charged late fees and excessive interest rates that were not part of their agreements with the bank.

A company that has a great deal of power in one market should not be able to legally use that power to leverage its way into other markets--this is the heart of many antitrust actions. A class action has been filed against American Express Company on behalf of merchants who accept the company's charge cards, alleging that American Express uses its market power unlawfully to force class members to accept its credit cards at excessive rates in violation of federal antitrust laws.

A class action has been filed against First Union Bank and members of its retained law firm for violations of the Fair Debt Collection Practices Act for deceptive banking acts, statutory deception and for money had and received. He seeks damages, costs and attorneys' fees.

A national class action has been filed in New York against collection specialist, Maximus, Inc. The action is brought on behalf of all U.S. residents who received a collection letter from Maximus which demanded payment within 30 days. Consumers claim this demand has the effect of overshadowing the statutorily required statement entitling consumers to challenge the validity of the alleged debt. The action is brought under the federal Fair Debt Collection Practices Act and seeks statutory damages as well as injunctive and declaratory relief.

A class action lawsuit has been filed against LendingTree and its subsidiary, Home Loan Center Inc.

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