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
Rock Stars To Celebrate Pawn Shop Ground Breaking
- 2.Retail & Restaurants
Long John Silver's Building To Become Taco Shop
- 3.Gas & Energy, General
Lights Out Lunch In Sioux Falls After Power Failure
Goodyear Recalls SUV Tires Due To Tread Cracks
- 5.Gas & Energy, General
Blacked Out Lunch Hour
- 6.Your Money Matters
New Reverse Mortgage Rules
- 7.Tourism, General
Black Hills Law Enforcement Plan For Sturgis Rally
- 8.Gas & Energy, Courts
Settlements Reached In So-Called 'Hot Fuel' Litigation
- 9.Transportation, General
Kia Recalling Nearly 87,000 Fortes Because Of Fire Risk
Friday Afternoon Business Brief