Case Study: Ally Financial government matter
Administering complex government enforcement matters
This $80 million settlement included three categories of class members, a notice program in seven languages, several rounds and mediums of reminders for the class, unique digital logins, and much more.
In 2013, Ally Financial Inc. and Ally Bank entered into a settlemend agreement with the U.S. Consumer Financial Protection Bureau and the U.S. Civil Rights Division of the Department of Justice. The alleged violation of the Equal Credit Opportunity Act was based on an interest rate markup allegedly paid by African American, Hispanic, and Asian/Pacific Islander borrowers.
This case study walks through the steps it takes to administer complex government enforcement matters, with a positive result of over 95% of funds distributed.