Law's Eric Chaffee weighs in on class settlements

Capital One loses $425 million fight over savings account secret

The Street: Eric Chaffee, the John C. Hutchins Professor of Law, noted courts once rubber-stamped class settlements, but rejections are increasingly common—and coordinated state attorney general pressure, not dissenting class members, flipped the outcome here. The result: a revised $425M Capital One deal that directs more money to depositors, with total relief exceeding $1.2B.