Navy Federal Credit Union offers customers — current and former military servicemembers and their families — a wide range of financial products and services, including loans that must be repaid. But when those customers fell behind on those payments, federal regulators allege that NFCU illegally threatened borrowers and restricted access to their accounts. To resolve these allegations, the company must now pay $28.5 million in refunds and penalties. [More]
legal action
Federal Inquiry Probes TCF Bank’s Overdraft Practices
By 11.6.15
Overdraft fees cost consumers an average of $32 billion each year. The hefty fees and their often less-than-transparent policies, which vary greatly between banks and financial products, have long garnered the ire of consumer advocates and federal regulators. Case in point: a Minnesota-based bank is now under investigation for possibly unfair and deceptive practices related to its overdraft program. [More]
West Virginia Sues VW Over Deceptive Advertising For Vehicles Equipped With “Defeat Devices”
By 10.6.15
Since the Environmental Protection Agency revealed that Volkswagen had rigged its “clean diesel” to cheat on emissions tests, a number of consumers and cities have sued the carmaker. Now West Virginia becomes the first state to join the list of those alleging the company tricked car-buyers into paying thousands of dollars more for supposedly environmentally-friendly vehicles. [More]
Health Group Challenges E-Cig Makers After Tests Find High Levels Of Toxic Chemicals In Most Products
By 9.3.15
A health watchdog group took legal action against some of the country’s largest e-cigarette manufacturers for failing to properly warn consumers about the risk of such products after tests show that most produce high levels of toxic chemicals. [More]
KFC Sues Three Chinese Companies For Allegedly Starting Rumors It Uses Eight-Legged Chickens
By 6.1.15
Kentucky Fried Chicken wants customers to know that it hasn’t created mutant chickens with eight legs and six wings to fill its big ol’ buckets. While one might think the notion of a chicken with more than two wings and two legs is a bit farcical, a rumor of such genetically modified birds has been circulating in China, leading KFC’s parent company to file lawsuits against three Chinese businesses for allegedly concocting and publicizing fabricated stories about the chain’s products on social media. [More]
NYC Steakhouse Goes To Court To Obtain Identity Of Fake Yelp Reviewer
By 9.11.14
It’s one thing for a company to pursue legal action against an online reviewer who posted negative things about the company when it is actually true. Currently the Sparks Steakhouse in Manhattan, a former job applicant, Yelp, and a mysterious fourth party are involved in legal action to discover the identity of “Besfort S.,” a Yelper posing as a former Sparks employee who posted about how spitting in food is routine. [More]
