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The case is Bulls et al v USAA Federal Savings Bank et al, U.S. District Court, Eastern District of North Carolina, No. 21-00488. (Reporting by Jonathan Stempel in New York; editing by Jonathan Oatis)
In 2023, customers filed 417 complaints to the Consumer Financial Protection Bureau over the bank's checking and savings accounts, a dramatic increase from 150 in 2018.
In April, a federal grand jury in Louisiana indicted 21 people involved with stealing nearly $7 million from USAA customers — particularly the accounts of older individuals with high bank balances.
As of July 31, 2000, there were 13 settlements or judgments totaling $1.158 billion against the federal government, with more than 100 more cases pending, as a result of the Winstar decision. [2] Winstar Corporation and its subsidiary United Federal Savings Bank was successfully represented by Charles J. Cooper. The board of United Federal ...
In that fashion, USAA's litigation department becomes the URIE's 2nd largest source of operating capital - right after the Federal Savings Bank's deposits. The problem with this sort of working capital is that if you're going to grow, you need an ever expanding base of litigation to provide the requisite working capital.
The total value of the settlement will be about $7.25 billion. [9] [10] This amount could be decreased based on the number of plaintiffs who opt-out. [11] A part of the settlement that allows merchants to charge fees to customers paying via credit card in order to recoup swipe fees took effect on January 27, 2013.
The lawsuits drove the company to declare bankruptcy in 1995, before it agreed to pay $2.3 billion to settle claims from 240,000 women in amounts ranging from $2,000 to $250,000 each in 2004 ...
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