Top Class Actions’s website and social media posts use affiliate links. If you make a purchase using such links, we may receive a commission, but it will not result in any additional charges to you. Please review our Affiliate Link Disclosure for more information.
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
Read About More Class Action Lawsuits & Class Action Settlements:
Wells Fargo Unfairly Repossesses Vehicles, Class Action Lawsuit Says
Why Are Hospital Workers Filing Ecolab Lawsuits?
Customized Silicone Wristbands, Pin Buttons Class Action Settlement
Honda, Hyundai, Kia, Subaru vehicle data collection class action lawsuit investigation
May 17, 2024 | Legal News
659 thoughts onAmerican Web Loan Class Action Settlement
Dear Vickie:
Payments to class members who are eligible for a Cash Award are expected to be sent in late September, which is 30 days after the Effective Date as defined in the Revised Settlement Agreement. Payment will be sent digitally by email to the email address on file.
Your Cash Award under the terms of the Settlement will depend on how much you paid on your AWL loan(s), the state in which you resided when you took out your loan, and the amount of money available in the Settlement Fund. You will only get a proportionate share of the total settlement cash, not a full refund of the amount of money you paid over principal, because the total amount of Settlement funds available to be distributed will not allow class members to receive a full refund. The amount of your Cash Award is also based on the fact that more than 784,082 loans – representing more than 367,600 other class members – are eligible for a Cash Award.
Payments did not go out by end of Sept. It is now middle of Oct. and we are still awaiting payments. I like many others could sure use that money now. I dont understand why we keep being told the money is on the way. We just want to be told truth so we can plan ahead. From past information told I expect our payments to be delivered this entire week. Let us see if that is the case.
Just checking to see if anyone at all saw any money at all. I am in a Tier 1 state and have yet to see anything beyond the initial email to expect it.
I am also Tier 1 and am waiting for an email with Notice ID to check am out I could receive. I have seen nothing yet.
Dallia- original email was 2020. I would call them
Anyone getting their money yet?
I believe you already know the answer to your question. I noticed a final hearing date of 10/20/2021 so I would be shocked if anyone receives a payment before that time or if we will ever receive a payment. Remember we all received loan from a company who charges excessive interest rates and that shouldn’t have made any loans in the first place.
“The final approval hearing for the American Web Loan class action settlement is (WAS) 10/21/2020.”
you are correct, I missread the date.
Thank you. I am a paralegal. I understand the courts quite well. They have until the end of this month to get the payments to us. So yes I do know the answer.
Not underestimating your understanding or intelligence. Hope you receive whatever you’re untitled to receive.
Good so if your a paralegal Vickie don’t you think there violating every law starting with the tier payout and the fact we’re getting paid by gift card
Vickie, Is that correct? They are bound by law to issue payments by the end of month? I couldn’t find any restrictions on how long they have to pay.
on the long notice form, page 6-7 it explains that if you prefer a paper check then one will be provided. Yes they must have the payments out by Nov. 1, 2021. I cannot find an extension of permission for payment filed.
Question if you are a paralegal you should be getting paid very well then why would you apply for a horrendous loan from awl. Just saying
No payment received yet, and I received the payment coming soon notice on October 4th.
They make interest off the money so they are in no hurry!
Be grateful you have at least gotten something. I haven’t received shit. NO emails at all.
I’m in tier 2. I got my confirmation email last week but no money. This is frustrating to say the least.
I got an email State and I was entitled to a settlement from AWL .. I DON’T KNOW MY NOTICE ID# how can I find out what number that is so I can check the yes I’m getting some kind of refund
Just email them and they’ll tell you what your ID# is
Top of email that was sent. I had to look twice but I dont know when to expect it but able to see the amount I will be getting
If they truly said payments start today….did anyone get paid? I’m guessing not.
Nope
Nope, it is all one big game
The email that says my payment is soon ready came through at like 8pm eastern time. So might want to check later evening
Yeah, when I got my “coming soon” email it was 1:30 on Sunday. So they aren’t in any schedule
Yeah, when I got my coming soon email it was 1:30 on Sunday. So they aren’t in any schedule
Nope!!
I just called and spoke with Whitney, she states payments are going out tomorrow (not holding my breathe though) so we will see. I received email on 10.6 stating payments were to be expected soon so best of luck to us waiting.
I hope that’s true. I could use the money. Thank you for the update.
Thank you for the update
I have a question. If we choose paypal as a method of payment, can we then transfer the money to our bank accounts? It seems like they are trying to force us to buy things with the money instead of having it as cash.
If paypal option is available then Yes you can transfer to your linked bank account
Thank you.
The video also said you can setup payment to bank.
When I called today I was told they will start sending the payments out tomorrow. It is computer generated so there is no rhyme or reason to the order. All should be sent by the end of October. It will either be Amazon, target or virtual master card. Nothing else.
I feel like they are stringing us along at this point
How come we can’t have it directly deposited to pay pal or our bank account it would be so much easier
some places have a hard time with a virtual card
when do we expect our payment
I’m really upset I’m trying to find out why I didn’t receive any information yet why is my bank card getting charged 156 2 times in one month from you guys
This is for awl class action call AWL directly
Has anyone actually received their payment? I received the notice email on Thursday.That would help pay a bill or two.
Can someone tell me where to find the claim ID # in order to check the amount of refund? I am not seeing a # in my notice sent via email.
Mine was in a July 2020 email. You can likely call them to get it
I called them and gave my last 4 of social, email, name and they gave me my claim ID #
Has anybody actually got paid! It looks like the “payment coming soon” emails are coming out. But when is “soon”? Lol
I haven’t seen anyone say they got paid yet. I got my email on 10/6 about payment coming soon. I sort of read it to mean within a week, but that would be tomorrow so am guessing that is not accurate.
the email said it would take more than a week
I really don’t understand this process. Exact payment amounts have been calculated and known for months. They waste more time and energy to send out emails in batches to notify payments are coming. Uh, we know payments are coming because the case was settled and we agreed. We know how much because it was predetermined. Forget the notifications, just send the damn money and get this over with!
Called claims administrator today and basically nothing has changed but this person stated that no payments have been sent out, only the emails that your payment is forthcoming in which some of us has received. I purposedly called several days in a row to see what type of answer I would get when inquiring about payment status and unfortunatley, I received different responses. I wouldn’t plan on receiving any payment, anytime soon. We shouldn’t be suprised.
How do we know exact payment?