TILA

Pentagon Federal Credit Union Disclosures for Employee Mortgages TILA Class Action

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,  Read more

US Bank Credit Cards Issued Without Customer Request Class Action

This class action against US Bank, NA alleges that the bank pressured its employees to make sales of financial products, and that this pressure resulted in employees issuing credit cards to customers who had not requested them. The complaint alleges that these issuances violate the Truth in Lending Act (TILA) and Regulation Z.  Read more

Dave App Cash Advances High Borrowing Costs Class Action

Dave, Inc. provides the Dave app, which lets people “get paid early,” advancing them up to $250, purportedly without charging them a fee. But the complaint for this class action alleges that Dave is skirting lending regulations “through a linguistic trick: calling the payments to use its service ‘tips,’ ‘express fees,’ and a ‘subscription fee,’  Read more

Bankers Healthcare Group “Commercial” Loans to Consumers Class Action

Bankers Healthcare Group, LLC (BHG) is a financial company that makes loans to healthcare-related individuals and businesses. The complaint for this class action alleges that the company has been making loans to individual healthcare workers but has disguised them as loans to businesses by putting the letter “d/b/a” before the borrowers’ names. The complaint claims  Read more

Gregory Funding Mortgage Statements TILA and FDCPA Settlement

Gregory Funding, LLC is paying $400,000 to settle a class action alleging it violated the Truth in Lending Act (TILA) and Fair Debt Collection Practices Act (FDCPA) because the statements it sent to customers misrepresented suspense balances.  Read more

Citibank Reclassification of PayPal, Venmo Purchases Class Action

The problem addressed in this class action has arisen from the use of mobile electronic payment (MEP) apps, like Venmo, PayPal, and Cash App to pay for purchases: How should these be classified by the linked banks and credit cards, and why does this matter? The complaint brings suit against Citibank, NA, alleging that the  Read more

Wells Fargo Buydown Settlement

Wells Fargo Bank, NA is paying nearly $7 million to settle a class action related to its Buydown Agreements or Buydown Deposit Agreements. The complaint alleged that Wells Fargo (1) violated the federal Truth in Lending Act (TILA) by improperly disclosing the interest rate that would be in effect during the buydown; (2) used a  Read more

Wyndham Vacation Resorts No-Consent Credit Accounts Class Action

How would you feel if you attended a timeshare presentation, then found out that the presenting company had opened a credit card account in your name, without your request or permission? The complaint for this class action alleges that Wyndham Vacation Resorts, Inc. and Comenity Capital Bank use consumers’ personal information to institute credit card  Read more

JPMorgan Chase Misleading Credit Card Fee Statement TILA Class Action

The Truth in Lending Act (TILA) aims to offer consumers proper disclosure of the terms of credit. The complaint for this class action alleges that JPMorgan Chase Bank, NA made disclosures “with inaccuracies or omissions” about its annual account or membership fees for its credit card accounts, thus violating the requirements of TILA.  Read more

Synchrony Bank Interest Rate Omission on Statement Class Action

The Truth in Lending Act (TILA) requires that lenders provide complete and accurate information about things like interest rates. The complaint for this class action, however, alleges that Synchrony Bank provided “disclosures with inaccuracies or omissions that violated” TILA in connection with its credit card accounts.  Read more