A proposed class action lawsuit accusing New York-based Banco Popular of violating state usury laws with its overdraft fees has been remanded from federal court back to the Commercial Division where it was filed.
Southern District Judge Louis Stanton (See Profile) ruled on Tuesday in Valle v. Popular Community Bank, 1:12-cv-09315, that the case should stay in state court because all of its claims arise under state law, even though the federal court could choose to exercise diversity jurisdiction since some potential class members are in other states.
