here are two ongoing lawsuits against Cardinal Financial:
- Telemarketing class action lawsuit: In 2021, a class action lawsuit was filed against Cardinal Financial alleging that the company violated the Telephone Consumer Protection Act (TCPA) by contacting consumers without their express consent. The lawsuit is still pending, but in 2023, Cardinal Financial agreed to pay $7.2 million to settle the lawsuit.
- Deal-related lawsuit: In 2022, a lawsuit was filed against Cardinal Financial alleging that the company violated federal securities laws by filing a “materially false and misleading prospectus and joint proxy statement” with the Securities and Exchange Commission (SEC) in connection with its merger with another company. The lawsuit is still pending.
It is important to note that Cardinal Financial has denied any wrongdoing in both of these lawsuits.
In addition to the lawsuits, Cardinal Financial has also been the subject of a number of complaints filed with the Consumer Financial Protection Bureau (CFPB). These complaints allege a variety of problems, including:
- Unfair debt collection practices
- Deceptive marketing practices
- Difficulty obtaining customer service
The CFPB is currently investigating Cardinal Financial, but it is unclear when the investigation will be completed or what action the CFPB may take.
If you are considering doing business with Cardinal Financial, it is important to be aware of these lawsuits and complaints. You should also do your research and read the fine print carefully before signing any contracts.
