Higher One Accounts
June 2014: A federal judge preliminarily approved a $15 million settlement to a class-action lawsuit against Higher One Holdings, Inc. The complaint, which was originally filed in 2012, alleges that, among other things, Higher One falsely represents that debit cards and accounts are endorsed or required by the student’s college or university when, in fact, the college/university did not require or endorse the use of the Higher One account. According to the settlement terms, class members are eligible to receive cash payments and the amount of those payments will vary depending on the number and type of fees they incurred and the number of claims made. For more information, go to www.oneaccountsettlement.com. (In re: Higher One OneAccount Marketing and Sales Practices Litigation, Case No. 12-md-02407, D. Conn.).
For more information about other banking-related class action lawsuits and TINA.org’s coverage of the issue, click here.