December 5, 2022
Pentagon Federal Credit Union, also known as PenFed, granted to its employees the right to apply for a fixed-rate mortgage or refinancing loan at a discount from its regular rates for ordinary mortgage customers. But the complaint alleges that PenFed did not make the required disclosures to the employees who took out these mortgage loans, because it did not treat the loans as variable, disclosing that the interest rates only applied as long as the borrower remained an employee of PenFed.
Case Event File: Pentagon Federal Credit Union Disclosures for Employee Mortgages TILA ComplaintRelated to: Pentagon Federal Credit Union Disclosures for Employee Mortgages TILA Class Action