Notice Mailing Date:Nov 12, 2014
Claims Submission Deadline:Jan 12, 2015
Objection Deadline:Jan 12, 2015
Exclusion Deadline:Jan 22, 2015
Final Approval Date:Feb 18, 2015
Checks were mailed to those who submitted valid, timely claims on April 9, 2015.
Settlement Class Members are individuals who reside and/or resided in the Commonwealth of Pennsylvania and received a “Borrower Response Package” (“BRP”) from Bank of America, N.A. (“BANA”) and/or Walled Lake Credit Bureau LLC (“WLCB”) between March 22, 2012 and November 19, 2012. The Plaintiff, Melissa Devin Magness, brought the Lawsuit against BANA and WLCB claiming the BRP contained false and misleading information in violation of the Fair Debt Collections Act 15 U.S.C. § 1692, et seq. (“FDCPA”). Specifically, Plaintiff alleged that the BRP was a communication from a debt collector that did not meet the requirements of the FDCPA, and that it misled borrowers by stating it was only a communication concerning BANA’s loan modification programs.
Under the Settlement Agreement, BANA and WLCB paid Five Hundred Fifty Thousand Dollars ($550,000) into a settlement fund (the “Gross Settlement Fund”) to settle the Lawsuit. After attorneys’ fees and costs, settlement administration costs, and an Enhancement Award to the Plaintiff for bringing and prosecuting the Lawsuit (if awarded by the Court) were deducted from the Gross Settlement Fund, the remainder was the Net Settlement Fund.
The Net Settlement Fund was divided amongst the Settlement Class Members who elected to participate in the Settlement by submitting timely, valid Claim Forms (“Participating Class Members”). The Fund was divided pro rata among all Participating Class Members.
Plaintiff and Settlement Class Members:
Arkady Eric Rayz
Kalikhman & Rayz, LLC
1051 County Line Road, Suite A
Huntingdon Valley, PA 19006
Phone: (215) 364-5030
Fax: (215) 364-5029
Bank of America:
Andrew J. Soven
Reed Smith LLP
Three Logan Square
1717 Arch St., Suite 3100
Philadelphia, PA 19103
Gerald D. Wells , III
Connolly Wells & Gray, LLP
2200 Renaissance Blvd., Suite 308
King Of Prussia, PA 19406
Phone: (610) 822-3700
Fax: (610) 822-3800
Walled Lake Credit Bureau:
Martin C. Bryce, Jr.
Ballard Spahr Andrews and Ingersoll, LLP
1735 Market Street, 51st Floor
Philadelphia, PA 19103
If you have any additional questions or would like more information, please contact us by calling toll-free (844) 322-8247 or by emailing us at Magness@gcginc.com.