News Room

Court Grants Final Approval To U.S. Bank Mortgage Satisfaction Class Action Settlement

On September 26, 2017, Judge Robert C. Winkler of the Court of Common Pleas for Hamilton County, Ohio entered an order granting final approval to a class action settlement negotiated by Goldenberg Schneider and its co-counsel in Wade v. U.S.Bank Nat’l Assoc., Case No. A1501522.  The settlement successfully resolved the plaintiff class’ claims stemming from U.S. Bank National Association’s (“U.S. Bank’s”) repeated failure to timely record thousands of mortgage satisfactions as required by Ohio Revised Code Section 5301.36.  Ohio law requires lenders to record a satisfaction of mortgage within 90 days from the date a loan is paid off.  Failure to timely record a satisfaction can result in a statutory damages payment to each such homeowner.  The $1.75 million settlement fund created by the settlement will provide up to $225 for each class member who submits a valid claim.

The case, Wade v. U.S.Bank Nat’l Assoc., Case No. A1501522, was pending before Judge Winkler in the Court of Common Pleas for Hamilton County, Ohio.

« Back to News Room