United Services Automobile Association building. Photo: frankieleon via Wikimedia Commons Federal Judge Clears Path for Policyholder's Class Action Against USAA for $7M Interest on Improperly Retained Late Fees
U.S. District Judge Peter J. Messitte of the District of Maryland ruled the plaintiff pleaded facts clearly to suggest USAA "knew full well that they had the use of the late fees," and "they understood the time-value of the fees" and their interest-bearing potential, according to a June 11 opinion.
June 14, 2024 at 10:55 AM
5 minute read
After the United Services Automobile Association and its subsidiaries agreed to reimburse thousands of policyholders more than $8 million for inappropriately assessed late fees, a federal judge in Maryland is now allowing a separate matter to proceed, in which policyholders seek more than $7 million worth of interest on those improperly retained charges.
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