State Supreme Court Says Loan Lawsuit Can Be Class Action

Posted on Aug 16, 2013

The South Dakota Supreme Court says a lawsuit against a Rapid City credit union and an insurance company can be handled as a class action.

The lawsuit alleges the Black Hills Federal Credit Union and CUNA Mutual Insurance Society improperly raised rates for insurance that makes loan payments if borrowers become disabled. The suit alleges the insurance rates were raised without sufficient notice to borrowers.