Top Class Actions  |  September 4, 2020

Category: Closed Class Actions

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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!

American Web Loan has agreed to resolve claims that the online lender violated interest rate laws.

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

CLICK HERE TO FILE A CLAIM »

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 from the settlement.

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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658 thoughts onAmerican Web Loan Class Action Settlement

  1. ashley s holman says:

    I never got my money

  2. taylor johnson says:

    unable to cash check went beyond the 60 days please contact me at address below on how to get reimbersed.

  3. taylor johnson says:

    unable to cash check went beyond the 60 days please contact me at address below on how to get reimbersed

  4. Thomas OCon says:

    Has anyone found out why they did not distribute payment #3 in January 2023 and when will they be mailing the checks?

  5. Terri says:

    I wish they would give a better date than by the end of the month for checks. It sure would be nice to get it soon.

    1. Edwin says:

      I hope is before Christmas

      1. Terri says:

        I just called today and they have no idea when they will be mailed and they are out of the office the next two days. Doesn’t look like it will be by the end of the year.

        1. Edwin says:

          Ofcourse they got paid early thsts why they on vacation the least they vould of done was getting the checks to us before Christmas but it is what it is hopefully we get it for valentines day

          1. Terri says:

            I emailed them today and now they are saying the middle of January. Imagine that!

          2. Terri says:

            I emailed them today and now they are saying the middle of January. Imagine that!!

        2. Edwin says:

          I just email them and they said checks have been mailed as of january 4th so fingercrossed

    2. Edwin Martinez says:

      Got my check today.good things come to those who wait

      1. J says:

        Was it the same amount shown on the Known Member’s Portal on their website?

    3. Scott says:

      Have you seen any yet?

  6. brian burleson says:

    I requested a plastic card and didn’t get it until a month later. Now that I have it, I can’t activate it. I get a message saying there’s a delay in processing payments. been about another month month and I still can’t activate the card. I’m starting to think this is some kind of scam. now

  7. Selena says:

    Super annoyed that these emails where hidden in “promotion folders “
    I missed the deadline to for the settlement. How is there even a deadline?!

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Please note: Top Class Actions is not a settlement administrator or law firm. Top Class Actions is a legal news source that reports on class action lawsuits, class action settlements, drug injury lawsuits and product liability lawsuits. Top Class Actions does not process claims and we cannot advise you on the status of any class action settlement claim. You must contact the settlement administrator or your attorney for any updates regarding your claim status, claim form or questions about when payments are expected to be mailed out.