In Re Citibank Heloc Reduction Litigation
Published: Dec. 22, 2012 | Result Date: Nov. 6, 2012 | Filing Date: Jan. 1, 1900 |Case number: 3:09-cv-350 Settlement – $400,000
Court
USDC Northern
Attorneys
Plaintiff
James R. Patterson
(Patterson Law Group APC)
Alisa A. Martin
(AMartin Law PC)
David C. Parisi
(Parisi & Havens LLP)
Sean P. Reis
(Reis Law Firm APC)
Suzanne L. Havens-Beckman
(Parisi & Havens LLP)
Defendant
Lucia Nale
(Mayer Brown LLP)
Facts
A class action was filed against Citibank alleging unlawful home equity lending practices by reducing or suspending homeowners' lines of credit based upon declines in property values.
Result
Without admitting any wrongdoing, Citibank agreed to settle the matter wherein a subclass would receive certain benefits from the bank, including $120 in cash award, totaling roughly $400,000, and an opportunity to reinstate their home equity lines of credit in some cases.
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