UPDATE: In a big win for Defendant, TCF, U.S. District Court Judge David S. Doty (Sr. Judge, D. Minn.) has granted TCF’s motion to stay proceedings and compel arbitration.
Original post (10/21/10): [An ancient legal “tenet” is “de minimis, non curat lex,” literally translated, “of minimal things, the law does not concern itself.”]
TCF Bank has been sued in connection with the bank’s practices related to overdraft fees. Plaintiffs’ counsel seek to maintain a class action, arguing, in part, that the “de minimis” or minimal losses for each customer alleged to have been improperly overcharged should weigh against ordering the many individual cases into individual arbitration. Plaintiffs’ counsel argues that low damage matters simply will not be pursued because they are economically non-viable. TCF, on the other hand, argues that, if the plaintiffs’ claims were deemed meritorious, they would be entitled to attorneys’ fees. Therefore, the argument goes, the minimal damages do not bar the feasibility of individual actions and do not warrant class treatment to vindicate class members rights.
Plaintiffs have three experts offering opinions that the putative class claims would not be brought as individual actions (one of which is here). TCF matched plaintiffs with three of their own (here, here, here). The motion was argued before U.S. Mag. Judge Franklin L. Noel on October 18. The case is before U.S. Sr. District Court Judge David S. Doty (D. Minn.). Judge Noel granted the motion to stay the action pending the decision as to whether or not this lawsuit would join the “MDL” in Florida but he “expressly” took under advisement the motion to stay and compel individual arbitrations.