The Lawyers got $7.2 Million - All I got was a lousy 24 Cent Check

In Simon v . Schwartz, a class action lawsuit was filed against Citibank on behalf of credit card holders claiming that the company violated the federal Truth-in-Lending Act by not timely crediting payments made by card holders.

The members of the class won $18 million, out of which the lawyers received $7.2 million (the lawyers had tried to get $9 million). If the other members all received 24 cent checks like I did, then that means there must have been about 45 million members of the class [(18 million - 7.2 million) / 24 cents = 45 million]. Ahhh... American justice.

I was not aware that I was even a member of the class action until I received the check. What this country needs (among other things) is a registry that people can sign up for that will automatically exempt them from being included in class action lawsuits. Something similar to the no-call registry to stop calls from telemarketers.

Organizations promoting legal reform:
Washington Legal Foundation
Common Good

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BTW, Heard any good lawyer jokes lately?



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