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Dear LISA: 

I’m hearing credit unions across the country are being targeted in a new wave of lawsuits related to overdraft and NSF fees. How can I find out more?  -- FRIGHTENED CU

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Dear FRIGHTENED CU:

Unfortunately, what you have heard is true.  To learn more about the types of lawsuits that are occurring, go to www.topclassactions.com (a website used to solicit clients) and enter “credit union” in the search bar.     

Since attorneys often shop for class action lawsuits by visiting websites, your credit union may want to consider placing various disclosures and forms in a password-protected area so only your members, and not litigious attorneys, can view. 

Also, HCUA Compliance has requested a White Paper from an attorney regarding this topic and will publicize it in the newsletter just as soon as it becomes available.

Vocab Compliance: