Correction On LA Financial FCU Settlement

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PASADENA, Calif. – An article in the Aug. 5 Credit Union Journal Daily Briefing incorrectly reported terms of a lawsuit related to LA Financial FCU.

According to the LA Financial FCU, the credit union has not set aside $10 million for the settlement of a suit related to ATM fee disclosures; in fact, the credit union said, the actual amount is less than 1/100th that amount. In addition, the article incorrectly stated the settlement was related to a violation of the Electronic Funds Transfer Act; it is not. The article also incorrectly stated the deadline for ATM users to submit a claim form online or via postmark; the correct deadline is Aug. 11. Credit Union Journal apologizes for the errors.

 

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