Washington Mutual Bank: Case for Consumer Rights

McKell v. working capital common Bank (2006) is a case for consumer rights highlighting the prerogative of the consumers to buy at the right price. In this case, the consumers were not buying goods and services. Rather, the market consisted of real property and one of the stakeholders Washington Mutual, Inc. was overstating the prices of underwriting, tax services, and wire transfer fees in conjunction with home loans. 1 Washington Mutual Bank had overcharged the buyers for these services so-c bothed the plaintiffs (few of the buyers) when the actual prices that the imprecate had paid to service providers for the self same services were less.The defendants (Washington Mutual) were simply making a profit on the services they had bought off divers(prenominal) providers and selling to other members of society that needed them at the time. Is this kind of profit making unlawful? From the viewpoint of consumers, it whitethorn very well be unlawful, see that all consumers want to pay the best prices. However, if the consumers were to stop using the services of Washington Mutual Bank, they would possibly be in possession of to visit various service providers for underwriting, tax services, and wire transfers, and still come to the defendants for home loans.In the integrative business of Washington Mutual, everything is taken care of. In view of this, it was decided by a trial court in California that the complaint made by the plaintiffs must be dismissed on the grounds that there had been no create verbally agreement between the parties to state that Washington Mutual, Inc. cannot charge in excess of the prices that it pays to the service providers. The case went into appeal. It is going to continue being considered in fact, the California homage of Appeal has agreed with a part of the plaintiffs complaint and agreed to review this consumer case further.2The main reason why the McKell v. Washington Mutual Bank case has still not been shut is that consu mers feel deceived when they are told that they are being charged simply the prices of the services bought, when in fact the sellers have overcharged. Although profit making is not considered illegal, in this case the consumers feel cheated because they had been informed by Washington Mutual that they were being charged the prices of certain services that bell a certain amount.As it turned out, the prices charged included a huge markup, while the consumers continued to believe that they were paying the right prices. The plaintiffs failed to produce all necessary documents to support their allegations. Nevertheless, the fact that Washington Mutual had failed to mention to the consumers that a service fee was being added for the services in question has landed the bank in hot water. Moreover, by charging a price that is higher than the market price, the bank is responsible for going against Congresss stated intent to value consumers from unnecessarily high settlement charges.3 Inde ed, this is the strongest argument to keep the McKell v. Washington Mutual case going in the near future.Washington Mutual Bank may be charged with near-monopolistic practices in the coming days, although it has not been determined whether the banks competitors are charging markups that are vastly dissimilar. Assuming that the competitors of the bank are charging a lot less than Washington Mutual, the justice system may very well decide that Washington Mutual must pay the legal charges of unfair competition. beholding that both federal and state laws demur near-monopolistic practices, that is, charging prices that are much higher than those at the market equilibrium the Californian courts may eventually end up with a strong hand protecting the interests of the consumer and charging Washington Mutual Bank much more than it charged its consumers through allegedly unfair practices.4Works CitedMcKell v. Washington Mutual IN THE COURT OF APPEAL OF THE STATE OFCALIFORNIA, spot APPELLAT E COURT, DIVISION ONE. 2006. 4 June 2007..McKell v. Washington Mutual-Class Action self-abnegation Cases Defense Motion To apprise ClassAction Improperly Granted As To Breach of Contract And UCL Claims establish On Federal RESPA Violations California Court Holds. Class Action Defense Blog. 2007. 4 June 2007 .1 McKell v. Washington Mutual-Class Action Defense Cases Defense Motion To Dismiss Class Action Improperly Granted As To Breach of Contract And UCL Claims Based On Federal RESPA Violations California Court Holds, Class Action Defense Blog, 2007, 4 June 2007 .2 McKell v. Washington Mutual IN THE COURT OF APPEAL OF THE STATE OF CALIFORNIA, SECOND APPELLATE COURT, DIVISION ONE, 2006, 4 June 2007, . 3 McKell v. Washington Mutual-Class Action Defense Cases. 4 Ibid.