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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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659 thoughts onAmerican Web Loan Class Action Settlement
Any news haven’t heard anything in a while
Please be advised that payments for Distribution 2 will be issued on February 5, 2021.
That’s great news. How did you get this information?
I think she found out from pacer it’s a site where you can get copies of court documents but how come they haven’t updated there website
When was distribution 1 sent out, since distribution 2 will be sent out February 5, 2021
I’m wondering if she means distribution 2 is the second part of the payment whoever took a loan out from January 1st 2012 to June 26th 2020 and the part could be whoever took out a loan from January 1st 2010 to December 31st 2011 and had to submit a claim form I wish people would be a little more specific when they post something if they gather the information but it’s just a guess
Where did you get this information? Do you have to pay for documents on pacer? Also what is dust. 2 vs 1? Thanks in advance for any info sharing
Hi there— how did you get this information?
Anybody know what happened at the hearing on 12/17/2020?
So I decided to call to see what’s going on basically they haven’t even heard anything back yet she even stated even if the judge granted approval for the case it could take up to 60 and add additional time due to covid delays so if I haven’t heard by the end of the first quarter to call back but basically everything is updated on there website when they have the information
Thanks for finding that out. I sent them an email today to try to find out what was going on.
Thank you.
Will be a while before any is us see some cash flow back -.-
I was told it got denied
Hey who did you hear that from?
Sir yeah maybe from the Nov 6th hearing but there was a mediation on December 17th I called2 days ago and was told they didn’t have any new information and said it could take up to 60 days for the judge to make a decision plus add additional time due to covid delays any information is updated on there website
December 17, 2020 AWL settlement update
Has there been any updates on the law suit if the hearing was held on December 17th?
Did anyone hear anything about the hearing from today?
I did a follow up via email and was told another hearing tomorrow December 17. So maybe an update after that?
Thank you!
When I opened this loan in October I read my payment would be $186/month they started taking that payment each paycheck oh my gosh I have already paid back half the loan and it still shows a full balance and then some. These types of loans are not legal in Colorado, the laws were changed a few years ago. Is there anything that can be done for me? I’m happy to pay back what I owe with a reasonable interest rate but not more than they deserve. This seems illegal to me. Please advise if there is anything that can be done when the laws in Colorado prohibit this.
Read before you sign your life away ..
This is why the lawsuit is one 3 times the loan amount is 2 much
Any idea where I can get my Notice ID? I don’t have access to the email I signed up with (work email from previous employer) and I moved a few months ago. Feels impossible but please let me know!
Try contacting the claim administrator
I just got a loan and was not informed I would b paying anything other then the 900 I received now it seems as I log into account I’m obligated to pay 4000 back why can they do this
You need to read all the documentation before you accept the loan. I have had several loans through them and all of them have been very clear about the interest rate and the amount I would pay overall.
It’s “Hurry Up And Wait”