Settlement Structure: Claims Made
Active: OpenCase Summary:
A group of defendants are settling a class action about loans made by purportedly tribal entities, including Golden Valley, Silver Cloud, Majestic Lake, and Mountain Summit. The settling defendants include at seven tribal individuals and four non-tribal. The complaint alleged that the loans were made a higher interest rates than permitted under their respective state laws, and/or that the lenders did not have the proper license to engage in lending in certain jurisdictions, which made the loans unfair, illegal, or unenforceable.Docket Number:
Company: Asner Family Holdings, LLC
Filing Deadline: January 1, 2100
Objection Deadline: September 6, 2022
Exclusion Deadline: September 6, 2022
Final Approval Hearing: October 21, 2022Proof of Purchase:
You do not have to do anything to receive the benefits of the settlement.Eligibility:
You may be eligible if you are a consumer living in the US and you executed a loan agreement with Golden Valley, Silver Cloud, or Majestic Lake, or if you did so with Mountain Summit before February 1, 2021.Typical Settlement Amount:
If you have an outstanding loan, it will be cancelled. Tribal defendants will request that the loans be deleted from credit reports and not to sell the personally identifying information from the loans. Some people will also receive a cash payment, with the amount depending on what you paid in principal, what you paid in interest above your state’s legal limits, and how much money is available in the settlement fund. You will only get a proportionate share of the recovery, because the funds available are not likely to be enough to pay everyone the full amount paid on their loan.
You will not receive a cash payment if any of the following apply:
- You did not make any payments on your loans with the above lenders.
- You lived in Arizona, Arkansas, Colorado, Connecticut, Idaho, Illinois, Indiana, Kansas, Kentucky, Massachusetts, Minnesota, Montana, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Pennsylvania, Ohio, South Dakota, Vermont, Virginia, and Wisconsin and did not make payments above the principal on your loan.
- You lived in Alabama, Alaska, California, Delaware, Florida, Georgia, Hawaii, Iowa, Louisiana, Maine, Maryland, Michigan, Mississippi, Missouri, Nebraska, North Dakota, Oklahoma, Oregon, Rhode Island, South Carolina, Tennessee, Texas, Washington, West Virginia, Washington D.C., and Wyoming and did not pay interest above your state’s legal limits.
- You lived in Utah or Nevada, which had no interest restrictions.
Total Settlement Amount: $39,000,000 for payments to class membersClass Representative Proposed Incentive Fee:
Consumer Litigation Associates PC
Gupta Wessler PLLC
Kelly Guzzo PLC
Case Name: Hengle, et al. v. Scott Asner, et al.
Settlement Website: Tribal Lending High Interest Rate Loans Settlement Settlement
American Legal Claim Services, LLC
c/o Settlement Administrator
P.O. Box 23309
Jacksonville, FL 32241