SD Court Asked To Make Lawsuit A Class Action
by Associated Press
April 23, 2013 11:41 AM
The South Dakota Supreme Court has been asked to order that a lawsuit against a credit union and insurance company proceed as a class action.
The lawsuit alleges that the Black Hills Federal Credit Union and CUNA Mutual Insurance Society improperly changed the terms and rates of insurance policies that make loan payments if borrowers become disabled.
A lawyer for the borrowers says the lawsuit must be handled as a class action because it would be impossible for 4,461 borrowers to file their own lawsuits.
An attorney for the insurance company argues the dispute cannot be handled as a class action because each borrower would have to testify about whether they waited too long to sue.
The Supreme Court will decide the case later in a written ruling.