BY ORDER OF THE U.S. DISTRICT COURT FOR THE DISTRICT OF MARYLAND
If, at any point from August 2018 to the present, you had a credit card issued to you in Maryland by First Bank & Trust, SD that was serviced by Mercury Financial, LLC (“Mercury”), you could be part of a Class Action Settlement that affects your rights.
The U.S. District Court for the District of Maryland authorized this notice.
This is not a solicitation from a lawyer.
- Through a proposed class action settlement, the Defendant – Mercury – has agreed to resolve a lawsuit alleging that Mercury made/serviced personal loans, under $25,000, to consumers without the license required by Maryland Consumer Loan Law, Md. Code Ann., Com. Law, § 12-314.
- The proposed class action settlement avoids costs and risks of continuing the lawsuit, pays money to Settlement Class Members, and releases Mercury from liability to Class Members.
- Under the proposed settlement, Mercury and its parent, Mercury Financial Holdings, LLC, will fund a settlement of $5.75 Million (the “Settlement Fund”). This Settlement Fund will be used to make payments to all Class members who do not opt out, or exclude themselves, from the Settlement. In return, the Defendant will be released from liability to the Settlement Class Members.
- Court-appointed lawyers for Class Members will ask the Court to approve a payment of 1/3 of the Settlement Fund as attorneys’ fees, plus costs, for investigating the facts, litigating the case, and negotiating the settlement. In addition, Mercury has agreed to pay the Class representative an incentive payment of up to $15,000 in addition to the Settlement Fund, subject to Court Approval.
- The two sides disagree on whether a class action could have been maintained, whether Mercury did anything wrong, and how much money was at stake.
- If you are a Settlement Class Member, your legal rights are affected whether you act, or don’t act. Read the Long Form Notice in the important documents tab carefully.