ReliaStar Skirts Class Action Over Loan Interest Charges

Law360, New York (April 3, 2012, 9:49 PM EDT) -- ReliaStar Life Insurance Co. on Tuesday escaped a putative class action in Florida federal court claiming it failed to inform policyholders that it would continue to charge interest on cash loans taken out of their accounts after the loans were repaid in full.

Plaintiff Judith Slack, a Florida teacher, dropped her claims Monday. U.S. District Judge William Terrell Hodges granted her motion to voluntarily dismiss the suit with prejudice the next day.

The complaint, filed in August, said the Minneapolis-based insurer's actions violated the Florida Deceptive and Unfair...
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