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loanDepot
loanDepot agreed to pay $1.025 million to settle claims it debited customers’ bank accounts without proper authorization under the Electronic Funds Transfer Act.
ClosedUnited States-wideClaim status: Closed on March 3, 2025Payout: VariesNo longer claimable
About this settlement
Claims relate to unauthorized electronic fund transfers from bank accounts by loanDepot between September 2021 and October 2023.
This settlement resolves claims that loanDepot debited customers’ bank accounts on a recurring basis without providing written authorization, violating the federal Electronic Funds Transfer Act. Eligible individuals may receive compensation by filing a claim before the deadline.
Who qualifies
- Persons in the United States whose bank accounts were debited on a recurring basis by loanDepot.com LLC without receiving a copy of the authorization.
- Debits occurred between September 21, 2021 and October 6, 2023.
Varies
Claim status: Closed on March 3, 2025