Washington Mutual Inc., the largest U.S. savings and loan, agreed to pay $350,000 to settle a New York class-action lawsuit accusing it of sending misleading debt collection letters.


Judge Robert Levy of the U.S. District Court in Brooklyn, New York approved the settlement on Wednesday, 3-1/2 years after the case began, court papers show.


Each of the 700 class members is expected to receive about $325. The plaintiffs’ lawyers will be entitled to about $115,000, or roughly one-third, of the settlement fund.


For this complete story, please visit Washington Mutual settles NY class-action lawsuit.


Next Article: Austin Logistics Announces General Availability of its ...

Advertisement