Late Fees, bank late fee class action

Late Fees and Overlimit Fee Class Action

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While banks and other entities think they can charge late fees as these choose, there are some legal restrictions. We are looking to file a class action regarding overlimit fees, late fees, and other misleading practices. Various claims are possible:

1. Inadequate Disclosure

Properly disclosed, a consumer may agree to them. However, it some cases they are surprise, policies change, and the charges are unexpected and unlawful. For example, "Plaintiffs allege that defendants use advertising to market secured credit cards to people who otherwise have difficulty receiving credit, that the ads hide certain fees by not mentioning them thereby deceiving customers, and that when an applicant is approved for a secured card, defendant bank sends a document titled "FCNB Credit Card Agreement" with a disclosure statement on the reverse side in six-point type. Both plaintiffs claim that they did not learn of annual or overlimit fees until incurred and then only when a customer service representative referred them to the "minuscule" disclosure statement...

2. Consumer Fraud

Charges may be misrepresented in violation of deceptive practices statutes.

The gist of plaintiffs' deceptive practices claim is that the typeface and location of the fee disclosures, combined with high-pressure advertising, amounted to consumer conduct that was deceptive or misleading in a material way, causing plaintiffs damages for purposes of General Business Law § 349. Whether defendants' conduct was deceptive or misleading is a question of fact. The applicable legal standards against which 290 the disclosure statement must be analyzed are provided by Regulation Z, which is derived from the Federal Truth in Lending Act (12 CFR 226.5; Sagal v First USA Bank, 69 F Supp 2d 627 [1999], affd 254 F3d 1078 [2001]). Regulation Z does not preempt state consumer protection laws completely but requires that consumer disclosures be "clearly and conspicuously in writing" (12 CFR 226.5 [a] [1]) and, considering type size and placement, this is often a question of fact (see Landreneau v Fleet Fin. Group, 197 F Supp 2d 551 [2002]).

3. Breach of Contract

Sometimes the obligation to pay late or overlimit fee are not a part of any legitimate contract, and the charges are therefore unlawful.

HOW DO I CONTACT YOU

Law Offices of Howard A. Gutman,
230 Route 206, Flanders, New Jersey 07836
(973) 598-1980, E-mail Howian@aol.com
Fax (973) 598-1982

New York Office
305 Madison Avenue, Suite 449
New York, New York (212) 886-4838

FREE INITIAL CONSULTATION

We offer a free initial telephone consultation to discuss your Late fee, Over-limit charge, or consumer fraud case.