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Bank of America starts overdraft rebate outreach
Headline Legal News |
2011/08/08 09:24
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If you had a Bank of America account with a debit card between January 2001 and May of this year, you may be due some cash.
The nation's largest bank has started contacting customers who may be entitled to a refund. It recently reached a class-action settlement over the way it charged overdraft fees. Most of the other suits are continuing to work their way through federal court in Florida.
Bank of America agreed to set up a $410 million fund to settle the lawsuit. The money will be used to pay back customers who were charged overdraft fees as a result of the company's policy of processing debit card transactions based on the size of the transaction, rather than when the purchases occurred.
The bank is one of about three dozen named in a series of class-action lawsuits over the practice of "reordering." A policy that became widespread in the 2000s, reordering involves deducting purchases from an account starting with the largest dollar amount first. That means a customer may end up paying additional overdraft fees.
For instance, someone with an account balance of $95 and who made three purchases in one day, the first for $5, the next for $25 and the last for $75, would be charged two overdraft fees, rather than one.
The suits claim that reordering was done to intentionally increase the number of overdraft fees collected. Banks took in about $39 billion in overdraft fees annually before the Federal Reserve put new rules in place last year. Now banks are required to obtain a customer's written permission before providing overdraft protection.
To inform customers that they may be eligible for a refund of some overdraft fees, Bank of America is sending postcards to customers with a brief explanation of the settlement and the address of a website where more information is available.
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Once-exonerated Conn. man ordered back to prison
Court Watch |
2011/08/07 09:25
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A month after the Connecticut Supreme Court reinstated murder convictions against two men who had been exonerated, a judge on Monday ordered one of them back to prison but allowed the other to remain free while fighting cancer.
George Gould was sent back to prison while Ronald Taylor, whose lawyer says he has terminal colon cancer, was allowed to remain out on bail. Both men await a new appeal trial connected to their murder convictions in the 1993 fatal shooting of New Haven grocery shop owner Eugenio Deleon Vega.
Gould and Taylor were both sentenced to 80 years in prison for the killing. They filed habeas corpus appeals, challenges to imprisonment that typically come after other appeals fail.
They were freed in April 2010 after 16 years behind bars when Superior Court Judge Stanley Fuger ruled they were victims of "manifest injustice" and declared them "actually innocent." Fuger's ruling came after a key prosecution witness recanted her trial testimony. He ordered both men released.
Prosecutors appealed to the state Supreme Court, which issued a unanimous decision last month saying that Fuger was wrong to overturn the convictions because Gould and Taylor hadn't proven their innocence. The high court ordered a new habeas corpus trial for the two men.
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Lawyer pleads guilty to illegal Edwards donations
Court News |
2011/08/05 09:12
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A prominent Los Angeles attorney could face six months in federal prison for making illegal contributions to the 2004 presidential campaign of former Sen. John Edwards.
The U.S. attorney's office says Pierce O'Donnell pleaded guilty Thursday to two counts of making illegal campaign contributions and agreed to a six-month sentence and a $20,000 fine. O'Donnell is set to be sentenced in November.
In a statement, O'Donnell's attorney Brian J. O'Neill says he and O'Donnell are pleased with the resolution.
O'Donnell acknowledged he provided some $20,000 to Edwards' campaign for the 2004 Democratic presidential nomination by reimbursing straw donors.
In 2006, O'Donnell was ordered to pay more than $155,000 after pleading no contest to using a false name while making political contributions to former Los Angeles Mayor James Hahn's campaign.
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Phone hack lawsuits loom, foam attack sentence cut
Court Watch |
2011/08/05 09:12
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Several alleged victims of tabloid phone hacking in Britain will soon file lawsuits against a second newspaper group, Piers Morgan's former employer Trinity Mirror PLC, their lawyer said Friday.
Mark Lewis said the claims would be filed in "a few weeks," but would not disclose identities of his clients or say precisely when the papers would be presented at court.
Lewis represents the family of Milly Dowler, a 13-year-old girl abducted and murdered by a pedophile in 2002. The revelation a month ago that her voicemail messages had been accessed by the News of the World tabloid while she was still missing outraged British opinion, and triggered a crisis for Rupert Murdoch's News Corp.
The phone hacking scandal centers on allegations that journalists eavesdropped on private phone messages, bribed police for information and hacked email accounts.
So far the crisis has centered on Murdoch's media empire, leading him to shut down the News of the World and abandon a bid to take over British Sky Broadcasting. Several former executives of the newspaper have been arrested by police investigating the eavesdropping.
But there have also been allegations of hacking by other newspapers. This week Paul McCartney's ex-wife, Heather Mills, claimed in a BBC interview that she was hacked by a Trinity Mirror journalist in 2001. |
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NYC lawyer pleads guilty to tax charge
Court News |
2011/08/05 09:12
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A lawyer has pleaded guilty to not paying taxes on nearly $11 million in income while working at a major Wall Street law firm.
John O'Brien entered the plea Thursday in federal court in Manhattan.
The government had accused the 48-year-old O'Brien of failing to pay $2.5 million taxes on $10.8 million in income from 2001 to 2008. They say during that time, he splurged on a weekend home, international travel and a rare book business.
Prosecutors say O'Brien has agreed to pay $2.8 million in back taxes and interest. At his Nov. 16 sentencing, he faces a maximum of four years in prison, though the term will probably be shorter under sentencing guidelines.
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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The content contained on the web site has been prepared by Securities Law News as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case. | Affordable Law Firm Website Design by Law Promo |
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