Fifth Third Bank Hit With Excessive Interest Class Action

Law360, New York (February 13, 2013, 1:34 PM EST) -- Fifth Third Bank NA on Tuesday was hit with a proposed class action in Florida federal court accusing it of charging unlawfully excessive interest rates on short-term lines of credit given to its checking account customers.

According to plaintiffs Lori and Daniel Laskaris, Fifth Third had unfairly preyed upon desperate customers with its Early Access program credit lines, charging "usurious" interest rates — in some cases, in excess of 1,000 percent per year once annualized — and misleading customers about the true rate in violation of...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Laskaris et al v. Fifth Third Bank


Case Number

1:13-cv-20529

Court

Florida Southern

Nature of Suit

Contract: Other

Judge

James Lawrence King

Date Filed

February 12, 2013

Companies

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.