Legal Advice, can anybody help me?
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Legal Advice, can anybody help me?
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The following message was in my mailbox and i am wondering what in the world it means... please help..
UNITED STATES DISTRICT COURT
FOR THE EASTERN DISTRICT OF VIRGINIA
Richmond Division
KEYANN GLADDEN,
Plaintiff,
v.
NAVY FEDERAL CREDIT UNION,
Defendant.
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Civil No. 3:08-cv-304 (REP)
NOTICE OF A PROPOSED CLASS ACTION SETTLEMENT, FINAL FAIRNESS HEARING AND RIGHT TO APPEAR
YOU ARE NOT BEING SUED. THIS IS NOT AN ATTORNEY'S SOLICITATION.
This notice is sent to you because the records of Navy Federal Credit Union show that it received a credit application from you between May 21, 2006 and January 30, 2009, and Navy Federal denied that application – either directly or through a car dealer. In its denial letter to you, Navy Federal stated as the only reason for the denial that unspecified information in your credit bureau report did not meet Navy Federal’s lending criteria. The Plaintiff in this case sued alleging that this violated a Federal law – the Equal Credit Opportunity Act. Navy Federal denied that it violated the law and is prepared to defend the content of its denial letter. To avoid the expense and uncertainty of litigation, the parties then reached a proposed settlement of all such claims, including yours. This notice tells you what rights and options you have in this matter.
PLEASE READ THIS NOTICE CAREFULLY, AS YOU ARE A CLASS MEMBER IN A LAWSUIT AND YOUR LEGAL RIGHTS MAY BE AFFECTED BY THE PROPOSED SETTLEMENT. THIS NOTICE ADVISES YOU OF IMPORTANT FACTS REGARDING A PROPOSED CLASS ACTION SETTLEMENT BETWEEN YOU AND OTHER MEMBERS, ON THE ONE HAND, AND NAVY FEDERAL ON THE OTHER HAND. THIS NOTICE EXPLAINS THE SETTLEMENT AND ADVISES YOU OF YOUR RIGHTS WITH RESPECT TO THE SETTLEMENT. THE STATEMENTS MADE IN THIS NOTICE ARE NOT FINDINGS OF THE COURT.
1
WHAT THIS NOTICE PACKAGE CONTAINS
CAPITALIZED WORDS AND PHRASES IN THIS NOTICE PACKAGE INDICATE TERMS THAT ARE SPECIALLY DEFINED IN THE STIPULATION OF SETTLEMENT, WHICH IS AVAILABLE AT WWW.NAVYFEDERAL.ORG/CASESETTLEMENT/.
I. BASIC INFORMATION PAGE
1. Summary 3
2. What is this Lawsuit about? 3
3. Why is this a class action? 3
4. Why did you receive this Notice Package? 3
5. What is the status of the Lawsuit? 3
6. Will you have to give up anything if the Stipulation is given Final Approval? 4
II. SETTLEMENT BENEFITS
7. What relief will be provided under the Stipulation? 4
8. Who will pay the costs of implementing and administering the Stipulation? 5
9. How and when will the relief offered under the Stipulation be provided? 5
III. LEGAL EFFECT OF THE SETTLEMENT
10. What am I giving up as part of the settlement? 5
11. Can the parties change the terms of the settlement? 6
12. Does the Stipulation have any current legal effect? 6
IV. YOUR LEGAL RIGHTS AND OPTIONS
13. What are your options as to the Stipulation? 6
14. If the Stipulation is given Final Approval, what must you do to receive relief? 6
15. What if you want to object to the proposed Stipulation? 7
16. What if you want to exclude yourself from the settlement? 8
V. THE COURT'S FINAL FAIRNESS HEARING
17. Will there be a Court hearing about the Stipulation? 8
VI. COUNSEL REPRESENTING SETTLEMENT CLASS MEMBERS
18. Who are the attorneys representing Settlement Class Members? 8
19. How will counsel for Settlement Class Members be paid? 8
20. Do you need to hire your own attorney in connection with the Stipulation? 9
VII. GETTING MORE INFORMATION
21. Where can you get additional information? 9
APPENDIX A ---- Release 10
APPENDIX B ---- Summary Of Your Legal Rights And Options In This Settlement 12
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I. BASIC INFORMATION
1.
Summary
This is a proposed settlement in a class action lawsuit that could affect your rights. Under this proposed settlement, neither you nor other class members will receive a cash payment.
2.
What is this Lawsuit about?
This Lawsuit concerns the content of the notice that Navy Federal provides to individuals who apply for credit with Navy Federal and are denied. Under the federal Equal Credit Opportunity Act (“ECOA”), Navy Federal is required to provide a declined credit applicant a statement of the specific reasons for the denial. The Plaintiff in this lawsuit applied for credit with Navy Federal and Navy Federal denied her application. Navy Federal sent her an Adverse Action Notice that stated that the reason for the denial was the existence of unspecified information in her credit bureau report. Plaintiff contends that Navy Federal violated ECOA by failing to identify with sufficient specificity the reason for the denial.
Navy Federal denies the allegations made against it. Navy Federal also maintains that it has fully complied with all requirements of ECOA and provided Plaintiff with an Adverse Action Notice containing numerous avenues to obtain the specific reasons for the denial of her application, including a free copy of her credit bureau report, a toll-free number to contact Navy Federal to obtain a
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Glenn
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Hello,
After reading through this it appears there was someone who had bad credit and couldn't get a lone so they decided they would get navy federal members to pay for it through some legal action. Essentially we are all part of it and get $1.00 and forfeit any rights to take any further action down the road unless you write to them and request to "opt out" which is what I will be doing after I write this. Who do they think pays for all of these legal fees and incentive rewards? WE DO!! If you want to help then fill out a suggestion box or talk to a branch manager or have this much interest in your credit score in the first place so you wont get denied the loan. Don't sue your own bank. That's just the backwards way our country thinks these days. You and I will get $1.00 now but each member will probably have to pay more then that to cover the cost of this trial settlements and rewards and the only ones who really see any profit are the lawyers, Keyann Gladden, and the Navy and Marine relief fund. I would highly recommend that everyone who receives this and is a bank member "opt out" as per section 16 requests and let Keyann Gladden and her band of merry misfits pay for there own auto's instead of us bank members. I hate when people use me and that's exactly how Keyann Gladden and her lawyers have made me feel. Please reply with any questions or comments and I will have my lawyer look over this document. Perhaps I will write and auto response to "opt out" and post it here in a few days with addresses to respond too. That way all you have to do is copy and paste and mail. Good luck and don't let people try to climb to the top on our backs. We only end up with a face full of mud and the bill.
G |
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Jo
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I cannot give you an answer to your question because I received it also because I am a member of NFCU and was denied credit. I looked over the Stipulationa and I have a question on that:
It says that NFCU will pay $485,000.00 to the Navy Relief Society The Relief Payment shall be made to the Relief Society with the understanding and on the condition that the Relief Society use the Relief Payment in support of its Quick Assist Loans program, which provides emergency interest-free loans to members of the Naval Services of the United States and their families.
Now my question is, I am a member of NFCU because I had served in the USN, but I am not active duty or retired so with I still be able to obtain help from the Navy Relief Society under this stipulation. Looking for an answer, please help...... |
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Lena
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I received it to in my bank inbox. All it means is that someone started a class action suit and if the settlement is reached, in the people's favor, we will be paid. Usually it is a very small amount becuase of it being a class, many people involved, action. You need to read it and determine whether you want to be a part of it or you don't care. The bank's attorneys had to make you aware of the situation but that does not mean you have to be a part of it. |
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No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
