Lawsuit claims that Louisiana-based Crescent Bank & Trust imposes greater fees, penalties, and interest upon its customers in conjunction with their automobile loans than is authorized by the loan agreements.
Atlanta, Ga. (PRWEB) December 30, 2009 -- Atlanta-based law firm Webb, Klase & Lemond, LLC has filed a class action lawsuit against Crescent Bank & Trust ("Crescent") alleging bad faith imposition of unauthorized interest, fees, and penalties on Crescent's automobile loan customers. Crescent has developed relationships with numerous new and used car dealerships across the country whereby Crescent purchases vehicle loans directly from the dealerships. Crescent has focused its auto loan business on sub-prime customers who are often not able to obtain financing through traditional channels. The lawsuit alleges that Crescent routinely ignores the actual terms of its customer loan agreements - which are purchased from dozens of different car dealerships across several states - and instead imposes a one-size-fits-all billing and payment system. The suit contends that this practice results in customers paying higher fees, interest, and penalties than authorized by their loan agreements.
The Plaintiff has brought class action claims for breach of contract, conversion, trespass to personalty, and money had and received. The Plaintiff has also asserted an individual claim for violations of the Georgia Fair Business Practices Act. Based on these claims, the Plaintiff alleges that Crescent is liable for all damages that have resulted from the imposition of improper fees, interest, and penalties on car and truck loan customers.
The case, styled Joseph v. Crescent Bank & Trust, is pending in the Superior Court of Fulton County, Georgia and has been assigned case number 2009-CV-179274. Crescent has not yet answered the case and the discovery process has not yet begun. After a suitable period of discovery, Plaintiff intends to move for certification of the case as a class action on behalf of all similarly situated Crescent customers.
If you wish to discuss this action or have any questions concerning this press release, please contact Matthew C. Klase, Esq. by e-mail at Contact(at)WebbLLC(dot)com or by calling (770) 444-9325. Webb, Klase & Lemond, LLC is a law firm that practices complex litigation with a focus on litigation arising from wrongful deprivations by corporate and government entities. The firm has handled numerous consumer class actions. For further information about Webb, Klase & Lemond please visit the firm's website at www.WebbLLC.com.
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[Via Legal / Law]