Thank you for sharing!

Your article was successfully shared with the contacts you provided.
pile of cash under a judge's gavel Source: Shutterstock.

A Maryland credit union settled a class action lawsuit for more than $200,000 that will be paid to members who claimed the $198 million Marriott Employees Credit Union in Bethesda, Md. violated the Truth in Lending Act (TILA) by failing to disclose the true cost of mini-loans for which members were allegedly charged an interest rate of 46%.

Peter Strozniak

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.