The South Dakota Supreme Court says a lawsuit against a Rapid City credit union and an insurance company can be handled as a class action.
The lawsuit alleges the Black Hills Federal Credit Union and CUNA Mutual Insurance Society improperly raised rates for insurance that makes loan payments if borrowers become disabled. The suit alleges the insurance rates were raised without sufficient notice to borrowers.
A trial judge ruled the lawsuit could not be handled as a class action. But the Supreme Court says there's no evidence that handling the case as a class action would harm the interests of any of the more than 4,000 borrowers involved.
The high court also says issues related to whether borrowers waited too long to sue can be handled in a class action.
Most Popular Today
The Super Bowl Ad Game: Celebrities, Animals And Humor
- 2.Your Money Matters
Phishing Emails Targeting Jobseekers
- 3.Retail & Restaurants
Football Fans Fill Sports Bars For Super Bowl 50
Sioux Falls Is A Top Pick For College Grads
- 5.Health Care
New $18 Million Hospital Planned For Custer
- 6.Education Funding
Sales Tax Hike For Teacher Pay Passes State House Committee
- 7.Education Funding, Education
Teacher Pay Tax Hike Set For Debate In Legislative Committee
- 8.Crops, General
USDA Grant To Help South Dakota Increase Ethanol Usage
Monday Morning Business Brief
Midco To Test Gigabit Internet In Fargo