What is loanDepot Class Action?
The loanDepot.com, LLC Class Action alleges that loanDepot.com, LLC violated the Electronic Fund Transfer Act (EFTA) by debiting consumers’ bank accounts on a recurring basis without providing the required written authorization for such transactions.
Who is eligible to get a payout in this class action?
Consumers in the United States whose bank accounts were debited by loanDepot.com, LLC on a recurring basis without receiving a copy of the authorization for the preauthorized electronic fund transfers, between September 21, 2021, and October 6, 2023, are eligible.
Is proof (or proof of purchase) required?
Claimants are required to provide information verifying their eligibility, but no additional proof beyond submitting the claim form is required at this stage.
How much money can I get?
Eligible claimants will receive a pro rata share of the $1,025,000 settlement fund, after deductions for attorneys’ fees, litigation costs, incentive awards, and settlement administration costs. The exact payment amount will depend on the number of valid claims submitted.
How can I file a claim?
To file a claim, visit the official settlement website and submit the claim form by March 3, 2025.
About Filing Settlement Claims
Please understand that submitting a settlement claim for payout with fraudulent information will result in the rejection of your claim form. By providing this information and attesting to its accuracy under oath, you acknowledge the potential legal consequences of perjury. It's important to recognize that such dishonest actions not only impact your own eligibility but also negatively affect those legitimately entitled to the benefits of the class action settlement. If you are unsure about your eligibility for this class action settlement, we encourage you to visit the official website of the class action administrator. It's important to note that ClaimClassActions.com serves as an informational resource only and is not affiliated with a class action administrator or a law firm.
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