The 36,000-member LA Financial Credit Union, a federally chartered CU headquartered in Pasadena, Calif., will soon close a complaint that it violated the Electronic Funds Transfer Act.
According to court documents and the counsel involved, the credit union will pay people who had made transactions at its six ATMs between May 5, 2007 and May 28, 2009 at least 50 cents plus interest, per person, per transaction, but no more than $10.
The settlement amount in any case shall not exceed the $33,889 that the CU has placed into a court-administered escrow account, according to Michael Martinez, a lawyer with Martinez & Charles, a Pasadena law firm which represented the plaintiff Dennis Minkler.
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