If your bank account was debited by LOANDEPOT.COM, LLC, you may be affected by a Class Action Settlement.

SAN FRANCISCO, Nov. 15, 2024 /PRNewswire/ — The following notice is being issued by the Court-approved Claims Administrator and has been authorized by the Superior Court of the State of California, County of San Francisco, in Jamie Jweinat and Richard Lechleitner v. loanDepot.com, LLC, Case No. CGC-23-605149.

You may be affected by a settlement in a class action lawsuit claiming that loanDepot.com, LLC debited funds from consumers’ bank accounts without providing them copies of written electronic fund preauthorizations, allegedly in violation of the Electronic Funds Transfer Act, 15 U.S.C. § 1693 et seq. (“EFTA”) and the “unlawful” prong of California’s Unfair Competition Law, Cal. Bus. & Prof. Code § 17200, et seq. (the “UCL”). The lawsuit (“Action”), Jamie Jweinat and Richard Lechleitner v. loanDepot.com, LLC, Case No. CGC-23-605149, is pending in the Superior Court of the State of California, County of San Francisco. The parties to the Action, Jamie Jweinat and Richard Lechleitner (“Plaintiffs” and “Class Representatives”), and loanDepot.com, LLC (“Defendant”), have decided to settle the matter. Currently, a settlement has been proposed for a maximum payment of $1,025,000.00 by loanDepot.com, LLC. The proposed settlement is subject to the Court’s final approval.

ARE YOU INCLUDED?

You are included in the Settlement Class if you are a person in the United States whose bank account was debited on a reoccurring basis by loanDepot.com, LLC without your being provided a copy of the authorization to make a preauthorized electronic fund transfer between September 21, 2021 and October 6, 2023, inclusive (“Class Period”), and you are not loanDepot.com, LLC, its employees, officers, or directors, or the Court staff or judge(s) assigned to this matter.

WHAT IS THE CASE ABOUT?

Plaintiffs allege that loanDepot.com, LLC debited funds from consumers’ bank accounts on a reoccurring basis during the Class Period without providing copies of the written authorization to make a preauthorized electronic funds transfer. loanDepot.com, LLC denies all of the claims and allegations in the Action. The Court has not ruled on the merits of the claims. The parties have decided to settle the case without a trial, and the settlement is pending the Court’s approval.

The settlement, if approved by the court, will entitle Settlement Class Members to a pro rata share of the Settlement Fund made available through the common fund of $1,025,000, less deductions for Class Counsel’s attorneys’ fees, litigation costs, incentive awards to Plaintiffs Jamie Jweinat and Richard Lechleitner for serving as Class Representatives, and Settlement Administration Costs, which will all be paid out of the Settlement Fund.

WHO REPRESENTS ME?

The Court has appointed the Law Offices of Todd M. Friedman, P.C. to represent you and other Class members as Class Counsel. You do not have to pay Class Counsel or anyone else to participate. You may hire your own lawyer to represent you at your own expense. Jamie Jweinat and Richard Lechleitner are Class members like you, and the Court has appointed them to serve as the “Class Representatives.”

GETTING MORE INFORMATION?

If you want detailed information or other documents about this lawsuit and your rights visit the website: www.EFTAsettlement.com, call 1-844-755-2326, write to the Claims Administrator, PO Box 3868, Baton Rouge, LA 70816, or call Class Counsel at 1-877-619-8966. Please note: Claim forms must be submitted online/postmarked by March 3, 2025. Requests for exclusion and objections must be postmarked by January 15, 2025.

Source: Claims Administrator

SOURCE Jweinat v. loanDepot.com – Claims Administrator