Chase Settles Credit Agency Fraud Case For $5M

Law360, Los Angeles (November 7, 2011, 8:25 PM EST) -- A California federal judge on Friday gave final approval to Chase Bank USA NA’s $4.9 million settlement with a class of consumers who alleged the bank paid millions to credit counseling agencies that fraudulently told consumers they were operating as nonprofits.

“I’ve prepared a minute order I’m going to issue [that] grants the motion for final approval as well as the attorneys’ fee awards, as well as costs, as well as enhancement fees,” U.S. District Judge Cormac J. Carney told attorneys for both sides on Monday....
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.