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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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Why Are Hospital Workers Filing Ecolab Lawsuits?
Customized Silicone Wristbands, Pin Buttons Class Action Settlement
659 thoughts onAmerican Web Loan Class Action Settlement
Hey Top Class Actions. The settlement is not closed.
It’s closed in the sense that no additional claims can be filed.
If I currently have a loan with them, does this mean all current loans will be wiped out to a zero balance? Also, they were not able to get payment this past week from my account because of Veterans Day and have not heard from them?
It depends on what date the loan was originated from. There is no guarantee it will be paid off in full if it is included in the lawsuit. You should have gotten an email from the attorneys with a claim number.
Court scheduled a settlement conference December 17 at 10am.
Hello did you get any feedback from the mediation
Court Order from 11/06/2020 is on the website. Heading to mediation in December 2020. Court determined the amount offered by AWL is not enough and attorney fees are excessive. Probably means another 6 to 12 months or longer waiting.
It looks like final approvement was denied!
Is that for sure
Pacer..
Yeah..you can read some of the transcripts on Pacer…final approval and attorney fees orders were denied. They’re supposed to have mediation again next month in front of the judge…we’ll see.
Where did you see that
If this is true I wonder why the website has not been updated. Thanks for the update.
If anyone receives their settlement via email, let us know. Thanks.
Dude I just called the helpline the bitch was very rude and stated that the hearing was actually pushed back to yesterday not October 21st and would receive notification in the next couple of months
Thanks for the update.
Hello,
This is Cicely Sykes and I am trying to get a notice i d number so I can see if I was included in the class action
I got mine via Email. Check your Email.
Anybody got anything how much and what was it under email or Mail
I got my notice, I should clarify sorry
I am anxiously waiting to see what I would receive I am eligible for a cash payment I took on multiple American Web Loans from the beginning of 2012 until the end of 2014 I hope the judge he’s by every loan I took out with them
I never received an ID# and I know I qualify…what do I need to do?
Sent them an email
Any one know if the case is done.the settlement site is not updated..trying to find out if there is any way to find out what the percent of money where suppose to get back I have have paid theses fools around 15000.two 20000 in intreste that for sure..I got my letter and iam suppose to get the cash settlement..if anyone as any idea of the new update or anything please respond back thanks everyone..
There was a hearing on November 4th but got denied so there is a mediation on December 17th I know the feeling I took out multiple loans from them in the beginning of 2012 until the end of 2014 I’m anxious to see what I get as far as I know judge wants more money for the victims and less attorney fees
Thanks. We need to get all of it back plus 5 percent of what we put in..its a shame that that place is still open..stay safe every one. Thanks again
I have my ID# so I’m qualified but AWL is still taking payments out on the loan I took out some months ago and before I found out about the lawsuit. And they’re calling and leaving me messages that they need to speak with me regarding an important business matter.