VIENNA, Va.–A class action lawsuit has been filed against Navy Federal Credit Union that alleges it did not properly inform account-holders that they will not be reimbursed for financial losses due to fraud on the person-to-person payment platform Zelle.
The lawsuit has been filed by member Jacqueline Wilkins in New Jersey Federal Court, according to TopClassActions.com.
“(Navy Federal) misrepresents and omits a key fact about the service that is unknown to accountholders: that there is virtually no recourse for consumers to recoup losses due to fraud,” the Navy Federal class action states, according to the website. “Wilkins claims Navy Federal ‘prominently touts’ that Zelle is a ‘secure, free and convenient way to make money transfers.’ Despite these representations, Wilkins argues there is no recourse for individuals who fall victim to fraud on Zelle, including ways to recoup financial losses on account of it.
TopClassActions.com further cited the plaintiff as alleging Navy Federal also “misrepresents and omits the truth” about its “secret policy” not to reimburse its account holders for losses caused by fraud on Zelle even in the event that they are reported in a timely fashion.
‘Failed to Do So’
“NFCU was required not to misrepresent the unique and dangerous features of the Zelle service in its marketing about it and in contractual representations. But it failed to do so,” TopClassActions.com quoted the suit as alleging.
Wilkins is further claiming the alleged misrepresentations by Navy Federal led account holders like herself to sign up for the Zelle service “without the benefit of accurate information regarding that service,” according to the report.
TopClassActions.com said Wilkins is claiming Navy Federal is guilty of breach of contract, including breach of the covenant of good faith and fair dealing, and in violation of the New Jersey Consumer Fraud Act.
Jury Trial Requested
According to the report, Wilkins is seeking to represent a nationwide class and New Jersey subclass of individuals with a Navy Federal account who signed up for service with Zelle and were not reimbursed for losses caused by fraud. She also demands a jury trial and requests declaratory relief along with punitive, exemplary, actual and/or compensatory damages for herself and all class members, TopClassActions.com added.
Are You Missing Out?
Don’t forget to check your Spam/Junk email folder if you haven’t been receiving your free, popular and daily CUToday.info news headlines.
And if you haven’t yet signed up for the new email solution on which CUToday.info has partnered with ResponseGenius, you can do so here. Signing up requires less than one minute of your time.
CUToday.info has received very positive response from readers following the move to an improved provider of the daily headlines, but many also noted they did need to go to their Spam/Junk folder and mark it as safe.
The new email solution has not only improved every reader’s delivery experience, but it also features a fresh, new format that is easy to read, especially on mobile devices.
Please note and/or make your IT department or email administrator aware the emails will be coming from the domains CUTodayinfo.com and CUTodayinfoReply.com