News in Brief October 7 – JPMorgan, Tommy Hilfiger and More

JPMorgan Reward Point Lawsuit Ends with $2 Million Settlement

JPMorgan Chase & Co. is set to pay $2 million to end a proposed class action that claimed the company suddenly closed credit card accounts, leaving account holders unable to redeem their reward points. Named plaintiff Harry Gao alleged that his credit card account was closed without warning – despite not missing any payments – rendering him unable to redeem two years’ worth of rewards. The settlement will go toward compensating a group of 55,000 Chase customers.

Tommy Hilfiger’s Parent Company Settles Wage and Hour Suit

PVH Corp. (which owns Tommy Hilfiger, Calvin Klein and IZOD) recently agreed to pay $3.25 million to more than 13,000 employees who were allegedly shorted on overtime pay and break time. The settlement, if granted final approval, will put to rest allegations that PVH violated California state law, as well as the Fair Labor Standards Act.

Valley National Bank Sued Over Job Applicant Credit Reports

New Jersey bank Valley National is facing a putative class action that claims it illegally acquired the credit reports of job applicants without letting them know. The suit alleges that Valley National violated the Fair Credit Reporting act and is looking to certify a class of more than 1,000 applicants – and award them between $100 and $1,000 each.

Hartford Douses Overtime Class Action with $3.7 Million Settlement

Hartford Fire Insurance Co. has agreed to settle claims that it failed to pay its claims analysts proper overtime wages. The $3.7 million settlement fund will be split between six class representatives and 43 opt-in class members. (After attorneys’ fees and litigation expenses, the settlement will be close to $2.65 million). A handful of arbitration cases making the same claims against Hartford were settled earlier this week as well.