APR Settlement
- Class members can make a claim for a piece of the $6 million settlement
- Mailed claim forms will need to be sent directly to the Settlement Administrator
When a credit card interest rate goes from being fixed to variable it usually doesn’t sit too well with cardholders. It is not every day, however, that a class action lawsuit gets filed over it. American Express cardholders that had a fixed rate changed to a variable rate between October 1st, 2005 and December 31st, 2010 may be entitled to compensation through the APR Settlement. This $6 million settlement is the result of a class action lawsuit entitled Lopez, et al. v. American Express Bank, FSB, et al in which both sides have come to an agreement to avoid the expense and distraction of ongoing litigation. Individuals who believe they are members of the settlement class can file a claim online by going to the APR Settlement page.
Important Dates Associated with the Lopez, et al. v. American Express Bank, FSB APR Settlement
- To be excluded settlement class members must mail their signed exclusion requests no later than August 30th, 2016
- Class members who don’t like the settlement must send their objections by the same August 30th, 2016 deadline to the Court, Class counsel, and American Express counsel
- August 30th, 2016 is also the deadline for which class members must submit their claim forms (can be done online at the APR Settlement page or through the mail)
- The final Approval Hearing will be held on October 17th, 2016 in order to determine whether to approve the settlement and fees, costs, and service award amounts
Class members that would like to receive a copy of the claim by mail should call the APR Settlement Administrator directly and make a request. Once the claim form is complete it should be mailed directly to the administrator for processing.
Lopez v AMEX Settlement Administrator Contact Information
- PO Box 3747 Portland, OR 97208-3747
- 1-877-803-8698
Reference
