(Michael Daddino)

Bank Of America Settlement Could Be Worth As Much As $17 Billion

Earlier this summer, when it looked like Bank of America and the Justice Dept. were reported to be on the brink of a settlement that would close the books on multiple cases involving the bank’s mishandling of toxic home loans in the run-up to the collapse of the housing market, it looked like BofA would be on the hook for around $12 billion. But now comes news that the deal could hit the bank for anywhere from $16-17 billion. [More]

(CBS Los Angeles)

Insurance Company Pays Man $21,000 With Buckets Of Loose Change

Money is money — but it’s a whole lot easier to receive a bunch of it with a check or even cash, than entirely in loose change. That’s how one California man said an insurance company paid him $21,000 in a legal settlement, dropping off more than 16 five-gallon buckets filled with coins. [More]

Hewlett Packard To Pay $32.5M To Settle Allegations Of Overcharging USPS

Hewlett Packard To Pay $32.5M To Settle Allegations Of Overcharging USPS

Breaking a promise and overcharging for products is a pretty shady deal to begin with, but when the company you’re taking money from is the already financially-strapped U.S. Postal Service, it’s like rubbing salt in the wound. Hewlett Packard has agreed to pay $32.5 million to settle allegations that it overcharged the USPS for nine years. [More]

(Molly)

Reverse Mortgage Company Caught Mailing Deceptive Info To Seniors

Even under the best of circumstances, choosing to take out a reverse mortgage is a difficult and often costly decision for many senior citizens and their families. But when you throw in a number of half-truths and marketing materials designed to mislead consumers into thinking they are taking part in a government-run program, well, that’s just wrong. And the state of New York won’t stand for it as one company recent found out. [More]

Companies Settle Charges For Allegedly Scamming Millions With Work-From-Home Schemes

Companies Settle Charges For Allegedly Scamming Millions With Work-From-Home Schemes

If many work-from-home opportunities seem too good to be true, that’s because they probably are. And the Federal Trade Commission put an end to two companies that allegedly scammed millions of dollars from consumers by promising substantial income through home-based businesses. [More]

Justice Dept. Letting Bank Of America Squirm While CEO Asks For Mortgage-Related Settlement

Justice Dept. Letting Bank Of America Squirm While CEO Asks For Mortgage-Related Settlement

Bank of America has reportedly been working out a settlement deal with the Department of Justice over its mortgage-related misdeeds. Last week, the arrangement was for a rumored $12 billion at least. But the negotiations stalled out, and the two parties haven’t talked in a week or more. Apparently, the bank is blinking first, and trying to get the Attorney General back to the table. [More]

Apple Settles E-Book Antitrust Class Action Suit; Terms Not Revealed

Apple Settles E-Book Antitrust Class Action Suit; Terms Not Revealed

The saga surrounding Apple’s purported e-book price-fixing collusion ring seems to be entering its final chapter –– but not without keeping things shrouded in mystery for a little while longer. [More]

NCAA Settles With Student Athletes For A Decade Of Using Their Likenesses In Video Games Without Permission

NCAA Settles With Student Athletes For A Decade Of Using Their Likenesses In Video Games Without Permission


Just last week, video game giant (and two-time Worst Company In America winner) EA agreed to settle a lawsuit with student-athletes whose likenesses it had used in NCAA sports video games without their permission. Today, lawyers representing the students announced that they’ve also reached a settlement agreement with the NCAA. Between the two cases, students who were eligibly for up to $951 each in compensation are now eligible for… roughly $1000 in compensation. [More]

Sallie Mae, Navient To Pay $97M To Settle Servicemember Student Loan Violations

Sallie Mae, Navient To Pay $97M To Settle Servicemember Student Loan Violations

Taking advantage of members of the military isn’t looked upon lightly by federal regulators. This idea was driven home today by the Depts. of Education and Justice, and the Federal Deposit Insurance Corp., who jointly announced a sizable settlement against student loan servicers Sallie Mae and Navient for overcharging and imposing excessive fees to military members.
[More]

FTC Continues Crackdown On Companies That Make False ‘Green’ Promises About Products

FTC Continues Crackdown On Companies That Make False ‘Green’ Promises About Products

Sometimes consumers make purchases based on the fact that the product is good for the environment, or at least won’t wreak havoc on it. So misleading consumers on the nature of a products natural composition is grounds for a slap on the wrist by the Federal Trade Commission. [More]

Bank Of America Could End Investigations Into Its Troubled Mortgage Investments For $20B

Bank Of America Could End Investigations Into Its Troubled Mortgage Investments For $20B

There’s another new chapter being written in the ongoing saga known as the financial crisis. The Justice Department is aiming to make a deal, in the area of $20 billion, with Bank of America for the company’s part in selling troubled mortgage investments. But resolution doesn’t look to be happening anytime soon. [More]

(blue_j)

FTC Stops “Work-at-Home” Job Scammers From Working Anywhere With $55m Settlement

Some jobs really do let you work from home part or all of the time. And some jobs really do pay $50 or more per hour. Those jobs don’t come knocking on your door asking you to take them, though, and they don’t advertise openings through overly excited, unsolicited e-mails and texts. But scammers do offer those “opportunities” in spam galore–and of course, they are actually opportunities for miscreants to part consumers from their money. The FTC, however, does not take kindly to scammers using deceptive tactics to pry money out of people, and has just shut several of them down. [More]

Child Protection Advocacy Group Rejects Facebook Privacy Lawsuit Settlement, Asks Court To Reconsider

Child Protection Advocacy Group Rejects Facebook Privacy Lawsuit Settlement, Asks Court To Reconsider

Facebook is notorious at this stage for playing fast and loose with users’ privacy. In 2013, the social sharing behemoth faced and settled a class-action lawsuit regarding its privacy practices. Today, one of the advocacy groups awarded a share of the settlement has reversed their stance, refused the payment, and is asking the court to reconsider the deal. [More]

(SCHMEGGA)

Did Your Kid Make In-App Purchases On Your iPhone Without Asking? You Might Be Due Some Cash From Apple

A couple years back, Apple came under fire from parents and regulators after reports that kids were making in-app purchases, sometimes to the tune of four figures, on their folks’ iPhones and iPads. The company has since changed its policy to prevent children from draining their parents’ wallets in this fashion, but that didn’t stop the class-action lawsuit from the people who’d lost money before the policy change. [More]

(RockaWolf)

Not Everyone Is Disappointed With De Beers Class Action Checks

Yesterday, we shared the news that people have started to receive their settlement checks from the class action lawsuit that accused diamond merchants De Beers of price-fixing. (Gasp!) The first reader we heard from, Sean, was upset that he only received $48 back on a $3,000 claim, or about 1.6%. Other readers are happier with their settlements…but, to point out the obvious here, people with larger settlements are a lot happier, and people who spent more on shiny rocks in the first place received larger checks. [More]

EA Triples Original Payouts In Settlement Of Football Games Class-Action Suit

EA Triples Original Payouts In Settlement Of Football Games Class-Action Suit

If you bought an EA football game — Madden NFL, NCAA Football, or Arena Football — between 2005 and 2012, here’s some good news. Not only are you due a few bucks thanks to a class-action settlement with the reigning two-time Worst Company In America champ, but the dollar amount of the individual payouts to affected consumers have been tripled. [More]

(zyphbear)

UPS Hit With $40 Million Settlement In Illegal Online Pharmacy Probe

UPS may have lost to FedEx in the first round of the Worst Company In America competition, but the shipping giant is getting away relatively unscathed from a Dept. of Justice criminal probe into deliveries it made for illegal online pharmacies. [More]

(Earth2Kim)

Milk, Aspirin, Broadband, And LivingSocial: Some Class Actions You Might Be Eligible For

Organic milk, LivingSocial vouchers, Norton Antivirus, Verizon Wireless games, and Clearwire Internet service: what do they all have in common? All of these companies have open class-action lawsuits against them for which eligible customers can file claims and get cash. [More]