Credit Union Retirement Plan Fee Challenge Denied Class Status

Four participants in the Credit Union Retirement Plan Association 401(k) Plan who say they were wrongly charged excessive administrative fees lost their bid to litigate these claims on a class-wide basis.

The annual fees charged to each of the named plaintiffs ranged between $10 and $472, and three of the four plaintiffs were charged fees they admit were reasonable, Judge James D. Peterson said. Peterson’s order, issued Tuesday in the US District Court for the Western District of Wisconsin, denied their motion to certify a class of more than 9,000 people, saying a class action can’t cover “both harmed ...