McGreevey v. GOLDMAN SACHS BANK, USA

What this case is about

The plaintiff, McGreevey, is suing Goldman Sachs Bank USA for allegedly violating the federal Truth in Lending Act. This law requires lenders and financial institutions to clearly and accurately disclose the terms and costs of credit products to consumers. The lawsuit claims that Goldman Sachs Bank failed to meet these disclosure requirements in connection with a consumer credit product or loan, leaving borrowers without the transparent information they are legally entitled to receive before taking on debt. The proposed class would likely include other consumers who obtained similar credit products from Goldman Sachs Bank and were subjected to the same allegedly deficient disclosures. The case seeks remedies available under federal consumer protection law for these disclosure failures.

What happens next

The case is in its earliest stage. The defendant has not yet responded. Class certification — the court's decision on whether the case can proceed as a class action — typically takes 12 to 24 months after filing. See our FAQ for how class actions work and what it means to be a class member.

Source: CourtListener docket entry. This summary was generated automatically from the public docket and has not been reviewed by an attorney. It may contain errors and may not reflect subsequent filings. Published by Access Law Group; responsible attorney Bogdan Enica, Esq..