What does the settlement provide?

This settlement is with Defendants Numi Financial and Central National Bank ("Defendants"). The settlement agreement with Numi may be found by clicking here. The settlement agreement with CNB may be found by clicking here. The terms are summarized below:

1. Payment Amount. Defendants agree to pay up to $4 million, which will be used to (a) reimburse eligible class members for the fees they paid through the release card and other damages, (b) pay attorney's fees and reimbursement of costs and expenses to the lawyers who represent the class, if approved by the court, and (c) make payments to the class representative for her effort and work in representing the class and assisting class counsel, if approved by the court.

2. How much money will I receive? You can receive a maximum of three times the amount of fees you paid under the release card or $15, whichever is greater. If the settlement is insufficient to pay these amounts for all approved claims after payment of attorney's fees, payments to class representatives, and expenses, the amount available for payment of claims will be divided pro-rata among those submitting valid claims. If all persons submitting valid claims are paid in full and there is money left in the settlement fund, the remaining amount will be distributed to non-profit organizations approved by the Court.

3. Your obligation. If you agree to this settlement and submit a claim, and the settlement is approved, all actual or potential claims you may have against Defendants regarding release cards will be dismissed, and you will not be permitted to file a lawsuit or arbitration based on those claims in the future. You also agree that the criteria for distributing payments to class members is governed by the terms of the settlement agreement.

4. Amount of attorney's fees. Class counsel anticipates seeking a fee award equal to 33% of the Settlement Fund plus reimbursement of costs and expenses paid by them in connection with this lawsuit and expenses incurred in providing notice and administering this settlement. These payments must be approved by the Court. A copy of the request that will be submitted by counsel will be posted to this website by November 1, 2024.

5. Amount of payment to class representatives. Class counsel anticipates asking for approval of $20,000 for the class representative.  The Court must also approve that award. 

6. Preliminary approval. The Court preliminarily approved the settlement agreements reached with each of the Defendants. Its order can be found by clicking here. The motion seeking preliminary approval of these agreements may be found by clicking here. That document explains why class counsel recommends that the settlements be approved. The settlement agreements are not effective, however, unless the Court gives final approval of the agreements following the hearing described in the next paragraph.

7. Your right to comment on settlement. You have the right to comment on the amount of attorney's fees that may be awarded by the Court, the amount of the payment to the class representative by the Court, or any other aspect of the settlement agreement. Any comment or objection to the settlement must be submitted in writing to the Court and Class Counsel at the addresses below. You may also voice those objections or comments at the hearing to consider whether the settlement should be approved on December 10, 2024, at 10:00 a.m. in courtroom 16 at the United States Courthouse, 1000 SW 3rd Ave, Portland, OR 97204. If you plan to attend that hearing, you must submit a written notice to Class Counsel at the address below with your name, address, and a description of your comment or objection. All comments, objections, and notices of attendance at the hearing must be received no later than November 19, 2024.

8. Class Counsel address. Notice to Class Counsel may be submitted by mail to Numi Release Card Settlement, 3101 Western Ave., Suite 350, Seattle, WA 98121, or by email to NumiReleaseCard@sylaw.com. ​