PNC bank is one of the largest banks in the United States and has millions of customers. However, its reputation is not entirely favorable. Like most banks, you can take various legal actions against PNC bank, and many of the lawsuits are relevant to you, even as an individual customer. This article looks at what you need to know about PNC lawsuits and whether you qualify.
Lawsuits Allowed Against PNC Bank
Individual Consumer Lawsuit
Even if your PNC contract may state that you cannot sue the bank in any other court other than small claims courts, there is an option for an arbitration clause. This is because the process becomes much more complicated and time-consuming if you sue the bank through the small claims courts.
Therefore, consumer arbitration is a better solution–a process laid out by PNC bank. It allows you to argue the case through an independent arbitrator who will force the bank to compensate you and fix the issue. You can pursue a PNC lawsuit through the consumer arbitrator in the comfort of your home.
You Can File a Class Action Lawsuit
A class action lawsuit allows a group of individuals with the same complaints to file a claim. However, if an arbitration clause is allowed in your contract, you might not be able to join or file a class action lawsuit. You might often see several cases pursued by other financial institutions or governmental agencies against a bank, but their legal options may not benefit an average consumer.
Some of the common lawsuits pursued against PNC bank include. Lawsuits for unjust mortgage fees, lawsuits over Ponzi schemes, overdraft charges, racial profiling, improper overtime pay, and helping in fraud schemes.
Steps to Follow When Pursuing Lawsuit Against PNC
Check Whether You Qualify to Pursue PNC Lawsuit
Firstly, before suing the bank, make sure that the claim qualifies because small claims courts are reserved for particular types of claims. The two things you should consider before pursuing a PNC lawsuit are the types of compensation you want because small court claims only allow monetary rewards.
The second thing to consider is the amount of compensation you want because small claims courts in each state have monetary limits. And when the financial issues involve overdraft fees, overcharges, or fraud, the amount can get high.
Send A Demand Letter
Start the process by sending a demand letter if you qualify to sue the bank; this is because small claims courts require you to write an official letter to the address of the bank requesting them to fix the issue voluntarily.
Fill out The Court Forms
If there is no response from the PNC bank, it is time to move on and fill out the right paperwork at the small claims court suing the bank. Ensure you check the correct forms on the court’s website, depending on your state; also, ensure you have enough copies to carry on to the next step.
Present The Forms to The Court
When done filling in the forms, it is time to physically submit them to the courthouse. Upon reaching the court, you will hand over the documents to the clerk; if the forms are in order, they will be stamped, and you will be issued with a copy and the hearing date of the case.
Give A Copy of the Forms to PNC Bank
Among the stamped copies you have, one copy is for PNC bank; you will deliver it to the PNC bank to let them know you have filed a case against them at the small claims courts. The process is called serving, and each court has a procedure and requirements on how you should serve the defendant. The last thing is to appear to the court for the case hearing.
When pursuing a PNC lawsuit, two types of lawsuits are allowed: the class action lawsuit, which involves a group of people with similar complaints, and an individual consumer lawsuit. However, the arbitrator clause enables you to argue the case through an independent arbitrator who will force the bank to pay you and fix the issue.