Mar 29, 2022 | Blog
CFPB Finds Credit Card Companies Charged $12 Billion in Late Fee Penalties in 2020
The Consumer Financial Protection Bureau (CFPB) has issued a report showing that credit card issuers charged $12 billion in late fees in 2020. Late fee penalties are charged in addition to interest when a cardholder does not make the minimum payment by the due date.
Some Findings of the CFPB’s Report Included:
Many major issuers charge the maximum late fee allowed under the immunity provisions set by the Federal Reserve Board of Governors in 2010. Eighteen of the top 20 issuers set late fees at or near the established maximum level.
Subprime cards and private label cards are particularly susceptible to late fee charges. For example, the average deep subprime account gets charged $138 in late fees per year, and deep subprime accounts are more likely than super-prime accounts to carry smaller balances. As a result, deep subprime cardholders pay late fees that represent a higher percentage of their balances (11% compared to 0.8% for super-prime accounts). These late fees are in addition to accrued interest charges. For private label cards, late fees comprised the overwhelming majority—91%—of all consumer fees and 25% of total interest and fees (compared to 45% and 7%, respectively, for general purpose credit cards).
CLICK HERE to read the CFPB’s full report.
Source: Consumerfinance.gov
Mar 27, 2022 | Blog, Data Breach
Charles Schwab Files “Notice of Data Breach” – Information potentially affected may include name and one or more of the following: Social Security number or tax identification number, driver’s license or other state identification number, passport number, or username/password.
According to Charles Schwab’s “Notice of Data Breach,” “[o]n December 16, 2021, Schwab discovered a potential issue regarding certain chat and email messages and immediately began an investigation. As a result of the investigation, [Charles Schwab] recently determined that between May 18, 2021, and December 16, 2021, certain chat and email messages sent through Schwab.com were inadvertently sent to external email systems.”
Source: oag.ca.gov/privacy/databreach/list
Have You Been Harmed As A Result Of A Data Breach Which Has Exposed Your Private Personal, Protected Health Or Personally Identifiable Information?
If you have experienced actual or attempted harm or been the victim of fraud due to the illegal or unauthorized exposure of your private personal, protected health or personally identifiable information, please contact Kehoe Law Firm, P.C., [email protected], for a free, confidential consultation and no-obligation evaluation of potential legal claims.
Mar 24, 2022 | Archive
Owners and Lessees of Honda CR-V, Honda Civic (2019-2021) and Honda Accord (2021) Vehicles Equipped with “Earth Dreams” 1.5L Direct Injection Engines May Have Legal Claims.
On March 23, 2022, a class action lawsuit was filed in federal court against American Honda Motor Co., Inc. and Honda Motor Company, Ltd..
According to the class action complaint, Honda, despite its longstanding knowledge of a material and manufacturing defect, has failed to disclose to Plaintiffs and other consumers that the “Class Vehicles” [i.e., Honda CR-V, Honda Civic (2019-2021) and Honda Accord (2021)] are predisposed to an engine defect that causes fuel contamination of the engine oil, resulting in oil dilution, decreased oil viscosity, premature wear and ultimate failure of the engines, engine bearings and other internal engine components and an increased cost of maintenance.
Premature failures, according to the class action complaint, also can result in stalling events and other dangerous situations for Class Vehicle occupants and others on the road.
Owners and Lessees of Honda CR-V, Honda Civic (2019-2021) and Honda Accord (2021) Vehicles Equipped with “Earth Dreams” 1.5L Direct Injection Engines
If you owned or leased one of the Class Vehicles, you are encouraged to contact Kehoe Law Firm, P.C., Michael Yarnoff, Esq., (215) 792-6679, Ext. 804, [email protected], [email protected], for a free, confidential consultation and no-obligation evaluation of potential legal claims.
Mar 23, 2022 | Archive
Class Action Lawsuit Filed On Behalf of All Illinois Residents Whose Biometric Information or Biometric Identifiers, In the Form of Scans of Facial Geometry, Was Collected, Used, or Stored by Clarifai.
On March 21, 2022, a class action complaint was filed in federal court against Clarifai, Inc. regarding “the surreptitious misappropriation and misuse of potentially hundreds of thousands of Illinois residents’ biometric information by a tech startup named Clarifai.”
According to the class action complaint, OkCupid user photos were provided to Clarifai, and “Clarifai used those images to train or refine its facial recognition software, a process that necessarily extracts biometric data in the form of maps of facial geometry.”
The complaint alleges that “Clarifai’s brazen disregard for individual privacy rights violates Illinoisans’ rights under [the Illinois Biometric Information Privacy Act (“BIPA”)], which was specifically designed to protect Illinois residents from this kind of underhanded behavior.”
According to the lawsuit, “[i]n order to give Clarifai a leg up over the competition, thereby hedging the bet he made when investing in Clarifai, Corazon’s co-founder[,] Max Krohn[,] surreptitiously provided OkCupid’s database of user photographs to Clarifai.”
Clarfai, allegedly, “mined this enormous cache of photographs for OkCupid users’ biometric data and used it to improve its tools’ capabilities,” and “OkCupid users were given neither notice nor any opportunity to consent to Clarifai’s collection, use, and storage of their biometric identifiers.”
Do You Believe Your Biometric Information May Have Been Illegally Collected, Stored, Used, Disclosed, Transmitted Or Disseminated?
Illinois’ Biometric Information Privacy Act (“BIPA”) provides a private right of action in an Illinois state circuit court, or as a supplemental claim in federal district court, against an offending party. Among other relief, BIPA provides for liquidated damages of $1,000 or actual damages, whichever is greater, against a private entity that negligently violates a provision of BIPA, as well as liquidated damages of $5,000 or actual damages, whichever is greater, against a private entity that intentionally or recklessly violates a provision of BIPA.
If you believe your biometric data has been illegally collected, stored, used, disclosed, transmitted or disseminated, please contact Kehoe Law Firm, P.C., Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected], for a free, confidential consultation and no-obligation evaluation of potential legal claims.
Mar 20, 2022 | Archive
Owners and Lessees of 2019-2022 Volkswagen Atlas, Golf, Jetta, Tiguan and Taos Vehicles With Wiring Harness Defects May Have Legal Claims.
Owners and lessees of 2019-2022 Volkswagen Atlas, Golf, Jetta, Tiguan, and Taos vehicles should be aware that a class action lawsuit was filed on March 18, 2022 on behalf of a class of past and present owners and lessees of allegedly defective 2019-2022 Volkswagen Atlas, Golf, Jetta, Tiguan and Taos vehicles (collectively, the “Class Vehicles”) designed, manufactured, marketed, distributed, sold, warranted, and serviced by Defendant Volkswagen Group of America, Inc. (“VW” or “Volkswagen”).
According to the class action complaint, VW has been aware that the subject Class Vehicles suffer from a dangerous manufacturing and/or design defect that causes the Class Vehicles’ door wiring harnesses to fail and results in, among other things, the Class Vehicles erratically applying the emergency brakes, opening and closing the windows, and displaying numerous error messages and emitting warning noise.
The wiring harness defect is, according to the complaint, a serious safety hazard that substantially increases the likelihood of a vehicle collision and injury to drivers, passengers and pedestrians, and prevents the vehicles from providing safe or reliable transportation.
