This deadline has passed, but here’s another class action for you.
The loanDepot Electronic Fund Transfer Act (EFTA) Class Action alleges that loanDepot.com, LLC debited funds from consumers’ bank accounts on a recurring basis without providing copies of the written authorization for these preauthorized electronic fund transfers, in violation of the EFTA.
Who Qualifies for a Payout in This Settlement?
Individuals in the United States whose bank accounts were debited on a recurring basis by loanDepot.com, LLC between September 21, 2021, and October 6, 2023, without receiving a copy of the authorization for the preauthorized electronic fund transfer, are eligible for this settlement.
Is It Necessary to Provide Proof (or Proof of Purchase)?
The settlement website does not specify the need for proof of purchase. However, submitting a Claim Form is required to receive settlement benefits.
What Amount Can I Receive from This Settlement?
Eligible class members will receive a pro rata share of the $1,025,000 Settlement Fund after deductions for attorneys’ fees, litigation costs, incentive awards, and settlement administration costs. The exact amount per claimant will depend on the number of valid claims submitted.
How Can I Submit My Claim?
To submit a claim, complete the Claim Form available on the official settlement website by March 3, 2025.
Important Dates
- Claim Submission Deadline: March 3, 2025
- Exclusion or Objection Deadline: January 15, 2025
- Final Fairness Hearing: April 21, 2025, at 9:30 a.m.
For comprehensive details and updates, please visit the official settlement website.
