Posted May 21st, 2018 No Comments
Class Action Phishing Scheme

The League has recently become aware of a website and social media advertisement apparently sponsored by a class action law firm. Both the website and the advertisement invite credit union members to contact the law firm if they have been charged an overdraft or NSF fee in connection with use of a debit card.

The website is

The following advertisement has appeared on Facebook:

We can only assume that the law firm is investigating possible violations of the Regulation E disclosure and opt-in requirements for overdraft services found at 12 C.F.R. §1005.7(b).


We wanted to make you aware of the efforts by this law firm in case you are contacted by concerned members or volunteers. While we do not condone this approach, nor do we believe it to be in the best interest of the members, it is not illegal per se and a not uncommon tactic utilized by plaintiff class action firms.

We understand the challenges of compliance in an increasingly complex regulatory environment, and we encourage you to communicate with credit union staff and vendors to ensure that your programs are fully compliant. We also encourage you to use the resources available to you through your League with tools such as InfoSight, PolicyWorks, PolicyAid and ComplySight.

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