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Chime Financial Service Outage Settlement

Settlement Structure: Claims Made

Active: Closed

Closed Settlement Statement:

According to court documents, the claim submission deadline has passed. Please contact the claims administrator if you have any questions.

Case Summary:

This settlement resolves a class action against Chime Financial, Inc., the Bancorp, Inc., and Galileo Financial Technologies, on the subject of an intermittent service outage that lasted for three days. The complaint alleged that some holders of deposit accounts at Chime had disruptions in service for portions of time between October 16-19, 2019 and experienced losses or damages because of them.

Docket Number:

4:19-cv-06864

Company: Chime Financial, Inc.

Filing Deadline: February 15, 2021

Class Period: October 16, 2019 to October 19, 2019

Objection Deadline: February 1, 2021

Exclusion Deadline: February 1, 2021

Final Approval Hearing: April 1, 2021

Proof of Purchase:

You must provide proof of your losses because of the service outage if you want to make a Tier 2 claim of up to $750. You do not need proof for a Tier 1 claim of up to $25.

Eligibility:

You may be eligible if you an account holder in Chime’s business records, and you were unable to access your Chime deposit account for portions of time between October 16-19, 2019 as a result of the service disruptions.

Not all account holders are class members. You are not a member of the class if you tried and failed to access or spend the funds in your account for other reasons. Class members should have received a Notice about this settlement.

Typical Settlement Amount:

Tier 1: Without proof or documentation, cash payment of up to $25. Tier 2: With documentation of losses or damages caused by the outage, up to $750. Final amounts will depend on number and amounts of valid claims. Also, class members with active accounts should already have received a payment of $10 into their accounts. This $10 will be subtracted from other rewards.

Total Settlement Amount: $1,500,000

Class Representative Proposed Incentive Fee:

$500 each

Law Firms:
Arnold Law Firm – Clayeo C. Arnold
Morgan & Morgan

Claim Form: Chime Financial Service Outage Settlement Claim Form

Case Name: Richards et al. v. Chime Financial, Inc.

Settlement Website: Chime Financial Service Outage Settlement Website

Claims Administrator:
Epiq Class Action & Claims Solutions, Inc.

Claims Administrator Contact Information:

Richards v. Chime Financial
c/o Epiq
P.O. Box 6006
Portland, OR 97208-6006
1-855-917-3581

Tags: Service Interruptions, Your Bank