Settlement Structure: Claims Made
Active: OpenCase 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:
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, 2021Proof 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: $1,500,000Class Representative Proposed Incentive Fee:
Arnold Law Firm
Morgan & Morgan
Case Name: Richards et al. v. Chime Financial, Inc.
Settlement Website: Chime Financial Service Outage Settlement Website
Epiq Class Action & Claims Solutions, Inc.
Richards v. Chime Financial
P.O. Box 6006
Portland, OR 97208-6006