Early this year, Howard Bernstein helped direct $1.7 million to 11 charities near his home in Lake Worth, FL — among them, the Kravis Center for the Performing Arts in West Palm Beach.

His actions received glowing write-ups in the local papers – the kind one cuts out, enshrines between glass and frames in silver.  He was appropriately modest about his role.

“This isn’t about me,” he told the Sun Sentinel.

However, in addition to the money sent to charities, Bernstein pocketed $25,000 for his role as lead plaintiff in a class action lawsuit against Chase Bank that settled in 2014.

And the law firm that he founded back in Ohio took in almost $2 million of a $5 million settlement that seems to have provided little relief to class members who never knew about the agreement.

“Where is the social utility in this?” said Richard Painter, the S. Walter Richey Professor of Corporate Law at the University of Minnesota Law School.

“The system is supposed to make the class whole, not enrich law firms.”

Bernstein alleged that Chase improperly allocated his and other Florida cardholders’ payments to their promotional loan balances rather than their credit card purchase balances. The case was heard in circuit court in Palm Beach County.

By W.J. Kennedy

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