Firm Has Settled with Bank of America, Previously Settled with
Discover, Chase Over Similar Issues
Baron and Budd is announcing a settlement totaling more than $5 million
on behalf of the States of Mississippi and Hawaii regarding Bank of
America’s deceptive marketing of credit card payment protection plans. Baron
and Budd lawyers Russell Budd, Laura Baughman, Ann Saucer and Burton
LeBlanc served as counsel in the litigation, along with co-counsel and
each states’ respective Office of the Attorney General.
Baron and Budd negotiated a $3.7 million settlement on behalf of the
State of Hawaii and a $1.6 million settlement on behalf of the State of
Mississippi, working with co-counsel and the Attorneys General from both
Hawaii and Mississippi.
Baron and Budd worked closely with Jim Hood, the Attorney General of
Mississippi, and David M. Louie, the Attorney General of Hawaii, to
achieve these results.
“Through this settlement, we are sending a powerful message to the
credit card companies that what they are doing is not right,” said
Russell Budd. “We are honored to have worked with each state’s Attorney
General to help promote a positive change in corporate conduct in their
Many consumers may be familiar with credit card payment protection
plans. In many instances, consumers are contacted by their credit card
company via phone and asked if they want to sign up for a payment
protection plan. However, these calls can be highly confusing and
misleading to consumers, many of whom unintentionally sign up for a
payment protection plan. After signing up, consumers are charged monthly
fees by their credit card company for the service, even though they may
not have understood what they were signing up for.
The plan is advertised as a way to protect the consumer in the event of
unemployment, disability or other difficult life events. Yet, these
plans offer no real benefit for the consumer, and are merely used as a
means for the credit card companies to make additional profit.
Baron and Budd previously settled similar cases regarding deceptive
payment protection plans against Discover, Chase and others. The firm
negotiated a $13 million settlement on behalf of the State of West
Virginia with Discover, Chase, Bank of America and other credit card
companies. The firm also previously negotiated a settlement with
Discover on behalf of the States of Hawaii and Mississippi that totaled
To learn more about Baron and Budd’s financial fraud practice, call
866-844-4556 or visit the firm’s website at http://baronandbudd.com/.
About Baron & Budd, P.C.
The national mesothelioma
law firm of Baron & Budd, P.C. has been “Protecting What’s Right”
sufferers and their families for nearly 40 years. As one of the first
law firms to successfully litigate an asbestos lawsuit, Baron & Budd
continues to actively represent veterans, industry workers and others
who are suffering as a result of exposure to asbestos. Contact Baron and
Budd at 1.866.855.1229 for additional information on mesothelioma
treatments, mesothelioma cancer doctors and treatment centers and
Baron & Budd, P.C.
Amanda Billo, 214-991-1051
Source: Baron & Budd, P.C.