BY ORDER OF THE U.S. DISTRICT COURT FOR THE DISTRICT OF MARYLAND
If, at any point from March 2014 to the present, you had an account for a credit card issued to you in Maryland by the Bank of Missouri or Celtic Bank and serviced by Continental Finance Company, LLC or Continental Purchasing, LLC (“Continental”), 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, Continental agreed to resolve a lawsuit alleging that Continental 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 and the Maryland Credit Services Businesses Act, Md. Code Ann., Com. Law, § 14-1901.
- The proposed class action settlement avoids costs and risks of continuing the lawsuit, pays money to Settlement Class Members, and releases Continental from liability to Class Members.
- Under the proposed settlement, Continental will fund a settlement fund of $5.75 Million (the “Common Settlement Fund”). This Common 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, Continental 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 Common Settlement Fund as attorneys’ fees, plus costs, for investigating the facts, litigating the case, and negotiating the settlement. In addition, Continental has agreed to pay the Class Representatives each an incentive payment of $25,000 in addition to the Common Settlement Fund, subject to Court Approval.
- The two sides disagree on whether a class action could have been maintained, whether Continental 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.