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05/04/15 11:45 AM
May 'Member News' Posted
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From the Editors of CU Weekly
THE COST OF 'TCPA' NON-COMPLIANCE
08/11/14 01:44 PM
Challenges and Recommendations
Wells Fargo Bank: $950,000. JP Morgan Chase: $11.3 million. Bank of America: $32.1 million. Wells Fargo Home Mortgage: $17.1 million. Sallie Mae: $24.1 million.
These are just a sampling of class-action settlements seen in the last few years based on alleged violations of the Telephone Consumer Protection Act (TCPA).
With statutory penalties of $500 to$1,500 per violation (each call is treated as a separate violation), TCPA is quickly becoming the new favorite statute among class-action attorneys.
Click here to read the entire Legal column within the August/September edition of Credit Union Digest!