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Consumer Law

1923 ABA Journal Consumer Law articles.

Bank to Repay $4.5 M in Credit Card Fees

A South Dakota bank has agreed to pay $4.5 million to settle a claim by the New York attorney general that it charged credit-challenged customers excessive fees. The money will now be available to reimburse customers who paid huge fees for subprime credit cards with tiny credit limits because of…

Aug 17, 2007 11:42 PM CDT

Cost of Biggest Data Breach: $256 Million

It will cost at least $256 million to correct a massive data breach involving the theft of computerized information about 45 million credit and debit cards. Reportedly the biggest such security breach ever to occur in the U.S., the yearlong theft of computer data from TJX Cos., based in Framingham,…

Aug 15, 2007 6:31 PM CDT

FL Fights for Internal State Farm Docs

A battle between Florida regulators and the state’s biggest property insurer is capturing the attention of lawyers there and elsewhere, because of what’s really at issue. Property insurance rate-setting is the official topic. But attorneys on both sides are waiting to see whether State Farm, a Bloomington, Ill.-based insurer, has…

Aug 15, 2007 5:26 PM CDT

Bloomberg: Insurers Aren’t Paying Claims

Despite having had to cover Hurricane Katrina, the worst U.S. disaster in the history of insurance, carriers are earning record profits. One reason why is that many don’t pay claims to the extent promised in insurance policies, a news agency says. “Insurers often pay 30-60 percent of the cost of…

Aug 3, 2007 8:47 PM CDT

Foreclosure Challenge Loses

A federal judge has dismissed a lawsuit against a company created to electronically record every mortgage loan in the United States. Judge Timothy Corrigan of Jacksonville, Fla., ruled that Mortgage Electronic Registration Systems did not misrepresent itself to lenders, the Daily Business Review reports. MERS had obtained a legal interest…

Aug 1, 2007 10:57 AM CDT

MI Mega-Farms a Mega-Nuisance?

Siding with complaining neighbors of mega-farms that house huge numbers of animals, Michigan lawmakers have introduced a package of five bills establishing more stringent rules for so-called animal factories. A hovering stench that casts a pall over surrounding properties and concerns about groundwater pollution are among the concerns that have…

Jul 31, 2007 12:42 AM CDT

BAR/BRI Sued Again

BAR/BRI is facing another lawsuit claiming law students paid too much for the bar review course. The $48 million class-action suit claims the company’s advertising materials fraudulently induced New York law students to overpay by about $1,000 each, the National Law Journal reports. The class includes anyone who graduated from…

Jul 30, 2007 12:34 PM CDT

Proposed Bill Targets ‘Bye-Bye Syndrome’

It happens so often that there’s a name for it: bye-bye syndrome. A small child, eager to say goodbye to a beloved relative or friend, rushes up to a car backing out of the driveway and is run over and killed. Some 200 people throughout the country are killed in…

Jul 23, 2007 10:07 PM CDT

Sweepstakes Loser Finally Wins

A Quebec businessman misled by a Time magazine sweepstakes promotion is entitled to nearly $100,000, a Canadian judge has found. Justice Carol Cohen said Time’s sweepstakes letter violated Quebec consumer protection laws, the New York Times reports. The solicitation “had the capacity to mislead if viewed through the eyes of…

Jul 23, 2007 6:44 PM CDT

Texas Lawyer Ordered to Repay $35.7 M

A big-name Houston plaintiffs lawyer has been ordered by an arbitration panel to repay $35.7 million in improper legal fees he charged to some 3,000 plaintiffs he represented in breast implant litigation. Including interest and attorney fees to be paid to the plaintiff lawyer who brought the claim, the total…

Jul 19, 2007 10:09 PM CDT

New Regulations for Subprime Lenders

A new regulatory pilot program for subprime lenders was announced by a group of federal and state agencies today—the eve of Federal Reserve Chairman Ben Bernanke’s planned two-day testimony before Congress. Focusing initially on approximately a dozen “nondepository” subsidiaries of banks and thrift institutions, as well as mortgage brokers who…

Jul 17, 2007 11:01 PM CDT

Police: WiFi Enables Child Porn Users

In miracles of modern technology, cell phone transmission records can locate lost users and provide evidence to suggest alleged criminals were—or were not—at the scenes of their crimes. Cameras record practically everything that happens in public in London. And radio speakers reportedly installed by the government in every home in…

Jul 17, 2007 7:20 PM CDT

Form Contract Puts Sprint in Class Action

Sprint-Nextel Corp. essentially scored an own goal, an Illinois appeals court says, by including in its adhesionary form contract a choice-of-law provision that allows customers to bring a national class action. Upholding a Madison County trial judge’s class certification, the 5th District Appellate Court decided the case over the cell…

Jul 12, 2007 9:08 PM CDT

Court Voids Class-Action Ban

Cingular Wireless raised the bar too high when it banned class actions in its standard subscriber contracts, the Washington Supreme Court has ruled. The provision is unconscionable and cannot be severed from a clause compelling mandatory arbitration, making both unenforceable, the court said in an en banc ruling. The class-action…

Jul 12, 2007 6:21 PM CDT

Thrift Regulator May Set New Loan Rules

In the wake of what many consider widespread problems with American bank lending practices, a federal thrift regulator may soon introduce an aggressive set of proposed rules to curb abuses. “If adopted, the proposal would be the most aggressive regulatory response this year aimed at tightening oversight of financial institutions,…

Jul 11, 2007 11:37 PM CDT

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