A selection of consumer financial class actions that have settled over the last few months. The cases again illustrate how class actions not only help victims of predatory lending and other illegal financial practices, but also result in injunctive relief that holds large corporations and institutions accountable while deterring future misconduct.
Study: How Consumer Financial Class Actions Help and Protect Americans
Excerpt: "This report illustrates how anytime, anywhere, an unscrupulous bank or lender could steal money from you, your family, or your small business. ... If, say, a bank opens a fraudulent bank account in your name, charges you fees and ruins your credit; or, a company illegally freezes money in your bank account, or cuts access to your prepaid cards, so you can’t pay your bills or withdraw money; or, a bank makes illegal credit inquiries without your permission and hurts your credit score so you can't get a loan; or, a bank charges you fraudulent mortgage or loan fees and then illegally try to collect the debt.”
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