MoneyMutual Payday Loans from Unlicensed Lenders 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 claiming that MoneyMutual and other companies violated laws by promoting payday loans from unlicensed lenders. The complaint claims that the defendants in this case operated or were affiliated with certain websites used to refer borrowers to lenders, including MoneyMutual.com. It also alleges that many of the lenders promoted were illegally making loans to California residents because they were not licensed to do so.

The lenders at issue are Cash Yes, VIP PDL Services, LLC (aka VIP Loan Shop), SCS Processing, LLC (aka Everest Cash Advance), Action PDL Services, LLC (aka Action Payday), BD PDL Services, LLC (aka Bottom Dollar Payday and BD PDL Services.com, LLC), Integrity PDL Services, LLC (aka Integrity Payday Loans and IPL Today), Fast EFNDS, LLC (aka Fast Efunds), and MB Marketing, LLC.

Docket Number:

3-cv-01171-JSW

Company: MoneyMutual, LLC

Filing Deadline: August 26, 2020

Class Period: February 11, 2009 to February 8, 2016

Objection Deadline: May 28, 2020

Exclusion Deadline: May 28, 2020

Final Approval Hearing: June 19, 2020

Proof of Purchase:

You do not need to provide proof. Company records will be used for verification.

Eligibility:

You may be eligible if you are a California resident who received a payday loan from certain lenders between February 11, 2009 and February 8, 2016 using one of the websites, including MoneyMutual’s website.

Typical Settlement Amount:

A share of the net settlement fund, minimum $38. Final amount will depend on how many valid claims are received.

Total Settlement Amount: $675,000

Class Representative Proposed Incentive Fee:

$65,000 divided among nine plaintiffs

Law Firms:
Lakeshore Law Center
The Spencer Law Firm

Claim Form: MoneyMutual Payday Loans from Unlicensed Lenders Settlement Claim Form

Case Name: Gilbert v. MoneyMutual, LLC. et. al.

Settlement Website: MoneyMutual Payday Loans from Unlicensed Lenders Settlement Website

Claims Administrator:
CPT Group, Inc.

Claims Administrator Contact Information:

Gilbert v. MoneyMutual, LLC Settlement Administrator
c/o CPT Group, Inc.
50 Corporate Park
Irvine, CA 92606
MoneyMutualSettlement@cptgroup.com
1-888-992-0599

Tags: Not Licensed to Make Loans, Payday Loans