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This settlement is closed!
Please see what other class action settlements you might qualify to claim cash from in our Open Settlements directory!
UPDATE 2:
- Top Class Actions viewers reported this settlement paying out up to $119.46 as of late October 2021.
- Congratulations to everyone who filed a claim and got paid!
UPDATE:
- On April 7, 2021, the Court preliminarily approved the revised American Web Loan settlement.
- The updated claim deadline for pre-2012 loans through the online lender is July 9, 2021.
A $141 million settlement has been reached to resolve claims that online lender American Web Loan violated loan interest laws.
The settlement deal benefits individuals who obtained a loan from American Web Loan between Feb. 10, 2010, and June 26, 2020.
Plaintiffs in the American Web Loan class action lawsuit claimed that the online lender violated federal law by issuing loans without the authority to do so. The lender allegedly used their status under the Otoe-Missouria Tribe of Oklahoma to issue loans with high interest rates which would otherwise be prohibited under state laws.
However, according to the plaintiffs, American Web Loan can’t skirt state interest rate laws simply because of their tribal affiliation.
“American Web Loan is not a legitimate arm of the tribe and tribal sovereign immunity does not shield American Web Loan or any other defendants from liability in connection with the unlawful online payday lending scheme,” the American Web Loan class action lawsuit argued.
The online lender hasn’t admitted any wrongdoing but has agreed to resolve the claims against them in a settlement valued at $141 million. The online lender has agreed to forgive 45,305 loans totaling $76 million and fund a $65 million cash fund.
Under the terms of the deal, Class Members will have their loans cancelled as disputed debt and adjusted to a zero balance. American Web Loan will reportedly request that Clarity Services, the applicable credit reporting agency, delete any credit reporting associated with the cancelled loans.
The settlement will also provide cash payments. Class Members who had a loan issued between Feb. 10, 2010 and Dec. 31, 2011 will receive flat payments of $20 or a proportional share of the settlement cash fund – depending on the documentation provided with their claim.
Other Class Members who had loans issued between Jan. 1, 2012 and June 26, 2020 will receive a proportionate share of the cash fund – not a full refund of paid interest.
Class Members who had loans issued between Jan. 1, 2012 and June 26, 2020 are not required to file a claim form to benefit from the settlement. However, Class Members whose loans were issued between Feb. 10, 2010 and Dec. 31, 2011 must file a valid claim form by Nov. 3, 2020 in order to benefit form the settlement.
Claim forms require Class Members to provide a copy of the loan agreement; a copy of a bank statement evidencing the receipt of an American Web Loan loan or a repayment withdrawal in connection with such loan; and/or an email from AWL indicating that a loan application was approved and that funds were being released. If more documentation is provided, payments may be higher.
The deadline for exclusion was Aug. 10, 2020 and the deadline for objection is Sept. 21, 2020. The final approval hearing for the American Web Loan class action settlement is Oct. 21, 2020.
Who’s Eligible
Individuals who obtained a loan from American Web Loan between Feb. 10, 2010 and June 26, 2020.
Potential Award
Cash payments and loan forgiveness.
Class Members will have their loans cancelled as disputed debt and adjusted to a zero balance. American Web Loan will request that Clarity Services, the applicable credit reporting agency, delete any credit reporting associated with the cancelled loans.
Class Members who had a loan issued between Feb. 10, 2010 and Dec. 31, 2011 will receive flat payments of $20 or a proportional share of the settlement cash fund – depending on the documentation provided with their claim.
Other Class Members who had loans issued between Jan. 1, 2012 and June 26, 2020 will receive a proportionate share of the cash fund – not a full refund of paid interest.
Consumers can check their eligibility for payments on the settlement’s known Class Member portal. A notice ID and the last four digits of a Class Member’s Social Security number is required to check this portal.
Proof of Purchase
A copy of the loan agreement; a copy of a bank statement evidencing the receipt of an American Web Loan loan or a repayment withdrawal in connection with such loan; and/or an email from AWL indicating that the loan application was approved and that funds were being released.
If more documentation is provided, payments may be higher.
Claim Form
NOTE: If you do not qualify for this settlement do NOT file a claim.
Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.
Claim Form Deadline
7/09/2021 UPDATED
Case Name
Royce Solomon, et al. v. American Web Loan Inc., et al., Case No. 4:17-cv-00145-HCM-RJK, in the U.S. District Court for the Eastern District of Virginia
Final Hearing
7/09/2021 UPDATED
Settlement Website
Claims Administrator
AWL Settlement Class Administrator
c/o A.B. Data Ltd.
P.O. Box 170500
Milwaukee, WI 53217
info@AWLsettlement.com
877-868-6825
Class Counsel
David W. Thomas
MICHIE HAMLETT
Kathleen M. Donovan-Maher
Norman Berman
Steven J. Buttacavoli
Steven L. Groopman
BERMAN TABACCO
Matthew B. Byrne
GRAVEL & SHEA PC
Defense Counsel
Thomas L. Strickland
Jonathan E. Paikin
Molly M. Jennings
WILMER CUTLER PICKERING HALE & DORR LLP
Saba Bazzazieh
Robert A. Rosette
ROSETTE LLP
Charles K. Seyfarth
Elizabeth Scott Turner
O’HAGAN MEYER
Robert M. Cary
Simon A. Latcovich
Rachel Rodman
WILLIAMS & CONNOLLY LLP
Christopher E. Ondeck
Timothy W. Mungovan
William D. Dalsen
PROSKAUER ROSE LLP
Matthew J. Fedor
FAEGRE DRINKER BIDDLE & REATH LLP
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Customized Silicone Wristbands, Pin Buttons Class Action Settlement
659 thoughts onAmerican Web Loan Class Action Settlement
What about loans after 6/26/2020? took out a $1000 loan on 7//14/20 and was recently told I’d be paying like $3600. Seems ridiculous.
Since your loan is outside the dates of the lawsuit, you would not be eligible.
The interest rates are higher then then Illinois law allows so yes if you borrowed 1000 you be paying just the minimum on it,it would be somewhere around 3000 back. I did just 500 and paid pack that plus 1500 ish
Is there any update from the Final Hearing on October 21, 2020?
It says Final hearing updated 11/04 so I’m wondering that’s when we will know
I read that. Strange thing is the website about the settlement has not updated. Still showing final hearing on 10/21/2020.
I had a loan with AWL April 2020. I assume I’m part of this settlement. When and how will i find out the outcome for my particular loan
when and how will people be notified they have funds being returned to them.
I have moved since my loan
I have a new bank account since my loan
Please explain.
I know personally I paid over $1000 in interest on the loan I had back in 2016
I would like to be kept informed
Yes! Yes! Yes ! Thank you God!!! I had to use them a few times for a emergency I was facing. They gave me $2000 but I paid back over $12k because of interest each time … I knew that was illegal but I couldn’t do anything about it but pray. Thank you to all the lawyers, prosecutor, Judge and those that’s fighting for the little people I found out I am eligible via email and I had to do nothing further I just checked again with my ID number that was provided for me and it said I am eligible! Thank u
what number did you call?
We got emails with our participant number to the email address you used to sign up for an account with. You can go to the lawsuit website and there is a number there to call if you feel you should be included but have not been contacted yet.
Go to awlsettlement.com
add me please, i had several loans over this time period.
Give them a call and verify that you’re included. I didn’t know I was, and I checked this morning. It’s automatic for most people.
Does this include all online loans
Does include all online loans
I have had some loans with AWL , but never recieved a unique ID. Loans were from 2014 through 2017 Need a unique ID
Question. My loan with AWL was in 2019. I did not receive a notice to enter the notice ID. Is it possible to find out what my notice ID is? I had moved since then and didn’t receive anything in the mail.
Same here
I got mine via Email. Check your Junk/spam folders
Question: I have documentation that I received a loan on 11/23/2019.. I made at least one payment and then defaulted as they kept charging interest… Above it states that
“Class Members will have their loans cancelled as disputed debt and adjusted to a zero balance. American Web Loan will request that Clarity Services, the applicable credit reporting agency, delete any credit reporting associated with the cancelled loans”
But when I go to check my eligibility, it states I’m not eligible..so, I don’t understand why. And I live in Virginia if that matters..Why can’t my debt be erased as well and I be included in the suit? Thanks…Virginia