NOTICE OF PROPOSED CLASS ACTION SETTLEMENT
You may be entitled to receive a settlement payment and to have your credit report modified in connection with a class action settlement with Fort Financial Credit Union.
You have been identified as a person who had a vehicle repossessed by Fort Financial Credit Union from June 21, 2008 through October 16, 2020.
An Indiana Court has authorized this notice.
This is not a solicitation from a lawyer.
You are not being sued.
- You do not need to take any action to receive the benefits of the settlement. Read this notice carefully.
- This settlement resolves a lawsuit over whether Fort Financial Credit Union (“Fort”) sent borrowers proper notice of their rights after vehicle repossession.
- Fort disputes the claims asserted in the Litigation. The parties disagree about whether any money (and if so, how much) could have been awarded to you if the Plaintiff were to prevail at trial. The settlement avoids the costs and risks to members of the Class like you from continuing with the lawsuit, and provides relief to the Class.
- This settlement will: (a) provide a gross fund of $2,100,000 to be distributed to Class Members after payment of administrative costs, Class Counsel fees and expenses, and a service award to Plaintiff; and (b) require Fort to request that the credit reporting agencies delete the credit reporting of your vehicle loan history, all in accordance with the proposed Class Action Settlement Agreement.
- Your rights are affected whether you act or not.
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Your Legal Rights and Options in this Settlement: |
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Do Nothing |
If the settlement is approved by the Court as presented, Fort will request the credit reporting agencies to delete your vehicle loan history from your credit report. You will also be paid a proportionate share of the net settlement proceeds. You will also be giving up any claims relating to the financing or repossession of your vehicle. |
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Object |
Write to the Court about why you don’t like the settlement and do not want it approved. Act by June 29, 2023. |
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Go to the Hearing |
Ask to speak in Court about the fairness of the settlement on August 24, 2023. |
- These rights and options – and the deadlines to exercise them – are explained in this notice.
- The Court in charge of this case still has to decide whether to approve the settlement. Payments will be made if the Court approves the settlement and after any appeals are resolved. Please be patient.
- For more information or to review key documents or the class action settlement agreement, everything can be found on this website.