Monday, February 3, 2014

Vantage CU Settles Class Action Lawsuit

Missouri Lawyers Weekly recently unearthed a large class action settlement against Vantage Credit Union of St. Louis, Missouri.

According to the story, Vantage Credit Union in early 2013 agreed to write off $28 million in judgments and debts and to try to fix credit reports for more than 3,000 people to settle a complaint over allegedly faulty repossession notices.

Also, $3 million in cash was set aside for certain class members; attorneys’ fees; and an incentive award to the class representative.

The settlement applied to people whose property was repossessed as collateral from January 28, 2006, to January 31, 2011.

Read the story in Missouri Lawyers Weekly (paid subscription required).

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