+--------+---+----------------------+--------+-----------------------+---+
| # O    | # |                      |        |                       | # |
|        | # |                      |        |                       |   |
| ##     | # |                      |        |                       |   |
|        | # |                      |        |                       | # |
|        |   |                      |        |                       |   |
|        | O |                      |        |                       |   |
|        | C |                      |        |                       | # |
|        | C |                      |        |                       | # |
|        |   |                      |        |                       |   |
|        | 2 |                      |        |                       |   |
|        | 0 |                      |        |                       |   |
|        | 0 |                      |        |                       |   |
|        | 6 |                      |        |                       |   |
|        | - |                      |        |                       |   |
|        | 2 |                      |        |                       |   |
|        | 0 |                      |        |                       |   |
+--------+---+----------------------+--------+-----------------------+---+
|        | * |                      |        |                       |   |
|        | * |                      |        |                       |   |
|        | O |                      |        |                       |   |
|        | C |                      |        |                       |   |
|        | C |                      |        |                       |   |
|        | B |                      |        |                       |   |
|        | U |                      |        |                       |   |
|        | L |                      |        |                       |   |
|        | L |                      |        |                       |   |
|        | E |                      |        |                       |   |
|        | T |                      |        |                       |   |
|        | I |                      |        |                       |   |
|        | N |                      |        |                       |   |
|        | * |                      |        |                       |   |
|        | * |                      |        |                       |   |
+--------+---+----------------------+--------+-----------------------+---+
| ## Com |   |                      |        |                       |   |
| ptroll |   |                      |        |                       |   |
| er of  |   |                      |        |                       |   |
| the Cu |   |                      |        |                       |   |
| rrency |   |                      |        |                       |   |
|        |   |                      |        |                       |   |
| > A    |   |                      |        |                       |   |
| dminis |   |                      |        |                       |   |
| trator |   |                      |        |                       |   |
| > of   |   |                      |        |                       |   |
| > Na   |   |                      |        |                       |   |
| tional |   |                      |        |                       |   |
| >      |   |                      |        |                       |   |
|  Banks |   |                      |        |                       |   |
+--------+---+----------------------+--------+-----------------------+---+
| ## Su  |   | ## Class Action      | ##     | ## G                  |   |
| bject: |   | Fairness Act of 2005 | Descri | uidance for Filing No |   |
|        |   |                      | ption: | tices of Proposed Cla |   |
|        |   |                      |        | ss Action Settlements |   |
+--------+---+----------------------+--------+-----------------------+---+

**TO**: Chief Executive Officers, Compliance Officers, and Legal Counsel
of All National Banks, Federal Branches and Agencies, Department and
Division Heads, and All Examining Personnel

The Class Action Fairness Act of 2005, 28 USC 1711 et seq., requires
notification to appropriate federal and state officials of proposed
class action settlements. The asserted purposes of the Act are to assure
fair and prompt recoveries for class members with legitimate claims, to
provide class action litigants with broader access to federal courts,
and to benefit society by encouraging innovation and lowering consumer
prices.

The new notification requirements set forth in 28 USC 1715 apply to
federal and state depository institutions, depository institution
holding companies, foreign banks, and nondepository institution
subsidiaries of any of these entities that are defendants in proposed
class action settlements. If a proposed settlement is reached, each
institution must provide to its primary federal regulator the notice
required by the statute whenever any of the matters alleged in the class
action are subject to regulation or supervision by that regulator. The
Class Action Fairness Act requires national banks, their operating
subsidiaries, and federal branches and agencies to notify the Office of
the Comptroller of the Currency of proposed class action settlements
involving activities regulated by the OCC, such as deposit-taking or
lending practices, or practices associated with other bank products or
services.

Within 10 days of filing the proposed settlement with the court, notice
should be sent to the institution's supervisory office and to the
Director, Litigation Division, 250 E Street, SW, Washington, DC 20219.
*The notice must include the following eight items:*

-   A copy of the complaint and any materials filed with the complaint;

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-   Notice of any scheduled judicial hearing in the class action;

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-   Any proposed or final notification to class members;

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-   Any proposed or final class action settlement;

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-   Any settlement or other agreement contemporaneously made between
    class counsel and counsel for the defendants;

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-   Any final judgment or notice of dismissal;

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-   If feasible, the names of class members who reside in each state and
    their proportional share of the settlement or, if that is not
    feasible, a reasonable estimate of the number of class members in
    the state and their share of the settlement; and

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-   Any written judicial opinion relating to the materials described
    above.

The court may not issue a final settlement order until 90 days after the
appropriate federal and state officials are served. A class member may
refuse to comply with and may choose not to be bound by a settlement
agreement or consent decree in a class action if the class member
demonstrates that the notice required under 28 USC 1715 has not been
provided.

All institutions supervised by the OCC should establish procedures to
ensure that counsel representing them in class action litigation receive
this bulletin.

You may direct questions to the supervisory office or to the Litigation
Division at (202) 874-5280.

Daniel P. Stipano

Deputy Chief Counsel

Attachment: [Class Action Fairness
Act](http://frwebgate.access.gpo.gov/cgi-bin/useftp.cgi?IPaddress=162.140.64.88&filename=publ002.pdf&directory=/diskb/wais/data/109_cong_public_laws)

\[http://frwebgate.access.gpo.gov/cgi-bin/useftp.cgi?IPaddress=162.140.64.88&
filename=publ002.pdf&directory=/diskb/wais/data/109_cong_public_laws\]