We have recovered hundreds of millions of dollars from banks and credit unions for charging overdraft fees in violation of their contracts with their customers by utilizing underhanded tricks to maximize overdraft charges. Another area of significant financial abuse that our firm fights is payday lending. We have cases pending against large banks like Fifth Third Bank that engage in unlawful usurious lending and against online payday lenders that have hidden behind fake relationships with Native American Tribes to invoke sovereign immunity to get away with loans with interest rates well above what is lawful.
Recently our firm won a settlement that returned hundreds of millions of dollars to victims of unlawful payday lending. Similarly, we have recovered millions of dollars for insureds who were overcharged by their insurance companies for insurance premiums. Tycko & Zavareei LLP is currently litigating against numerous insurers who are refusing to make full and complete payment on legitimate claims. We are also litigating dozens of cases across the country against mortgage loan services that are charging their own customers unlawful fees as high as $15 for the privilege of paying their mortgage over the phone or the internet.
Our firm is leading the way to eliminate these unlawful “pay-to-play” fees and returning millions of dollars to homeowners. Unfortunately, many (if not most) large financial institutions will use every tool at their disposal to maximize revenue from their customers using questionable tactics. And almost always, these tactics have a disproportionate impact on poor and minority communities. We are committed to fighting these practices and putting this money back into the pockets of the cheated consumers.
