The loan documents stated that the initial interest rate  would be the sum of a specified Index plus a set Margin or, a rate less than that sum.  The documents also stated  “Your interest rate will be based on the weekly average yield on United States Treasury securities adjusted to a constant maturity of 1 year (the ‘Index’) plus an amount called a ‘Margin.’”

Later in the document, the disclosures stated that “Your initial interest rate may be discounted and will not be tied to the Index.”   Thus the bank allegedly charged the borrowers an initial interest rate higher than the sum of the Index and Margin.

Chase Adjustable Rate Mortgage (ARM) Lawsuit is a post from: Class Action Lawsuits

The case states that Domino’s did not comply with the legal requirements of the federal Fair Credit Reporting Act (FCRA) by (1) running background checks on employees without proper authorization, and (2) “systematically” failing to provide employees with copies of their background checks prior to taking adverse employment action against them.

Claims have been made that checks were performed on individuals before they started working, and they were subsequently dismissed based on undisclosed information discovered during their background checks.  This information was never shared with them by Domino’s.  Also they were not provided a copy of the report or advised of any rights before the termination. Additionally  they were required to sign a consent form that contained extraneous information and was not separate from the application packet.

The law states that employers must provide certain information to consumers before taking any adverse action against them – including not hiring them or terminating them – if the background check is completed after hiring. A a copy of the background check report as well as a statement of their rights prepared by the Federal Trade Commission (FTC), which enforces the FCRA should be given at that time. Consumers are thus protected against inaccurate or incomplete background checks and are given the opportunity to set the record straight.

Up to $1,000 damages per person can be awarded in this case.

Domino’s Background Check Lawsuit is a post from: Class Action Lawsuits

Individuals who obtained an adjustable rate mortgage (ARM) from Chase ( either JP Morgan Chase Bank or Chase Home Finance) before April 2006 are seeking compensation as part of a class action lawsuit.  This is happening only in California at the moment – though borrowers in other states can instigate legal action if Chase set their interest rate wrong.

The loan documents stated that the initial interest rate  would be the sum of a specified Index plus a set Margin or, a rate less than that sum.  The documents also stated  “Your interest rate will be based on the weekly average yield on United States Treasury securities adjusted to a constant maturity of 1 year (the ‘Index’) plus an amount called a ‘Margin.’”

Later in the document, the disclosures stated that “Your initial interest rate may be discounted and will not be tied to the Index.”   Thus the bank allegedly charged the borrowers an initial interest rate higher than the sum of the Index and Margin.

Chase Adjustable Rate Mortgage (ARM) Lawsuit is a post from: Class Action Lawsuits

Individuals who obtained an adjustable rate mortgage (ARM) from Chase ( either JP Morgan Chase Bank or Chase Home Finance) before April 2006 are seeking compensation as part of a class action lawsuit.  This is happening only in California at the moment – though borrowers in other states can instigate legal action if Chase set their interest rate wrong.

The loan documents stated that the initial interest rate  would be the sum of a specified Index plus a set Margin or, a rate less than that sum.  The documents also stated  “Your interest rate will be based on the weekly average yield on United States Treasury securities adjusted to a constant maturity of 1 year (the ‘Index’) plus an amount called a ‘Margin.’”

Later in the document, the disclosures stated that “Your initial interest rate may be discounted and will not be tied to the Index.”   Thus the bank allegedly charged the borrowers an initial interest rate higher than the sum of the Index and Margin.

Chase Adjustable Rate Mortgage (ARM) Lawsuit is a post from: Class Action Lawsuits