FAQ 1 - Why did I get the notice?
FAQ 2 - What is the lawsuit about?
FAQ 3 - Why is this a class action?
FAQ 4 - Why is there a settlement?
FAQ 5 - How do I know if I am part of the settlement?
FAQ 6 - What does the settlement provide?
FAQ 7 - What can I get from the settlement?
FAQ 8 - What do I need to do to receive a payment from the settlement?
FAQ 9 - When would I get my payment?
FAQ 10 - What am I giving up to get a payment?
FAQ 11 - How do I get out of the settlement?
FAQ 12 - If I don’t exclude myself, can I sue later for the same thing?
FAQ 13 - If I exclude myself, can I get money from this settlement?
FAQ 14 - Do I have a lawyer in this case?
FAQ 15 - How will the lawyers be paid?
FAQ 16 - How do I tell the Court that I don’t like the settlement?
FAQ 17 - What’s the difference between objecting and excluding?
FAQ 18 - When and where will the Court decide whether to approve the settlement?
FAQ 19 - Do I have to come to the hearing?
FAQ 20 - May I speak at the hearing?
FAQ 21 - What happens if I do nothing at all?
FAQ 22 - Are there more details about the settlement?
The records of McCoy Federal Credit Union (“Defendant”) show that you were assessed a Relevant Fee (as defined in footnote 1, listed below on the homepage). Because of this, you are a member of the Settlement Class, and you may be affected by this class action settlement.
The Court sent you notice because you have a right to know about the proposed class action settlement, and about your options, before the Court decides whether to approve the settlement. If you do nothing and the Court approves the settlement, and after any appeals are resolved, the settlement administrator will send you a payment as a check or as an account credit, and/or provide debt forgiveness, and your claims will be released.
The notice package explains the lawsuit, the settlement, your legal rights, what benefits are available, and how those benefits will be calculated.
The Court in charge of the case is the Circuit Court by and for the Eighteenth Judicial Circuit, Seminole County, Florida, and the case is known as Roman v. McCoy Federal Credit Union (with a related case being Johnson v. McCoy Federal Credit Union). The people who sued are called the Plaintiffs, and the credit union they sued is called the Defendant.
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The lawsuit claims that Defendant improperly assessed the fees described under FAQ 1 above. Defendant denies that it did anything wrong. Defendant claims that it was allowed to assess these fees, and properly did so in accordance with the terms of its account agreements and applicable law.
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In a class action lawsuit, one or more people called “Class Representatives” (in this case Agnes Roman and Beatrice Christie and, in related litigation, Terry Johnson) sue on behalf of themselves and other people who have similar claims. All of these people are called a Class or Class Members. This is a class action because the Court has decided it meets the legal requirements to be a class action solely for the purposes of settlement and notice. Because the case is a class action, one court resolves the issues for everyone in the Class, except for those people who choose to exclude themselves from the Class.
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The Court did not decide in favor of the Plaintiff or the Defendant. Instead, both sides agreed to a settlement. That way, they avoid the cost of a trial and the risks of either side losing, and they ensure that the people affected by the lawsuit receive compensation. Defendant does not in any way acknowledge, admit to or concede any of the Plaintiffs’ allegations and expressly disclaims and denies any and all fault or liability for the charges that have been alleged in this lawsuit. The parties think that the settlement is best for everyone involved under the circumstances. The Court will evaluate the settlement to determine whether it is fair, reasonable, and adequate before it approves the settlement.
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To see if you will get money from this settlement, you first have to decide if you are a Class Member.
If the notice is addressed to you then you are a member of the Settlement Class, you will be a part of the settlement, and you will receive the benefits of the settlement, unless you exclude yourself. If you are not sure whether you have been properly included, you can call (888) 369-3799 to check.
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The Defendant has agreed to create a Settlement Fund of $1,000,000 to settle this case and to forgive $400,000 in unsecured debt. As discussed separately below, attorneys’ fees, litigation costs, the costs of notice and for the costs of distributing the settlement benefits, among other settlement administration costs, and a service award to the Class Representatives will also be paid out of the Settlement Fund.
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After deducting the attorneys’ fees and expenses, costs of notice and administration, and service awards to the Class Representatives approved by the Court, there will be a Net Settlement Fund available for distribution to Class Members. Each Class Member will be paid from this fund on a pro rata basis, based on the amount of applicable fees paid by the Class Member. For example, a Class Member who paid $1,000 in applicable fees will receive a check or account credit for twice as much as a Class Member who paid $500 in applicable fees.
The actual amount of any Class Member’s check or account credit will be determined by an independent settlement administrator based on the following formula:
Class Member's Pro Rata % =
Relevant Fee Amounts Paid by That Class Member
Total of Relevant Fee Amount Paid by All Class Members
Class Member's Distribution = Class Member's Pro Rata % x Net Settlement Fund
You will not receive more in the settlement than the amount of the applicable fees that you paid during the Class Period and are likely to receive less.
In addition, if you owe any Uncollected Relevant Fees, all or a portion of those Uncollected Relevant Fees will be forgiven.
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You do not need to do anything to receive a payment from the settlement or forgiveness of Uncollected Fees. As long as you do not exclude yourself, you will receive a settlement payment, credit, or forgiveness if the settlement is approved and becomes final. If your address changes, however, please call (888) 369-3799 to report the address change so that your payment reaches you.
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The Court will hold a hearing on May 2, 2024, at 1:30 pm, to decide whether to approve the settlement. If the Court approves the settlement, there may be a period when appeals can be filed. Once any appeals are resolved or if no appeals are filed, it will be possible to distribute the funds. This may take several months and perhaps more than a year.
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Unless you exclude yourself, you are staying in the Class, and that means you can’t sue, continue to sue, or be part of any other lawsuit against Defendant relating to the legal claims that were or could have been brought in this case. It also means that all of the Court’s orders will apply to you. Once the settlement is final your claims relating to claims that were or could have been brought in this case will be released and forever barred.
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If you don’t want a payment, credit, or uncollected debt forgiveness from this settlement, but you want to keep the right to sue or continue to sue the Defendant on your own about the legal issues in this case, then you must take steps to get out. This is called excluding yourself—or is sometimes referred to as opting out of the Settlement Class.
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To exclude yourself from this settlement, you must send a letter by mail saying that you want to opt-out or be excluded from Roman v. McCoy Federal Credit Union. The letter must include your name, address, telephone number, and your signature. You must mail your exclusion request postmarked no later than March 10, 2024, to:
Roman v. McCoy Federal Credit Union
c/o Simpluris
PO Box 25226
Santa Ana, CA 92799
You can’t exclude yourself on the phone or by e-mail or by letter to a different address. If you ask to be excluded, you will not get any settlement payment, credit, debt forgiveness, and you cannot object to the settlement. You will not be legally bound by anything that happens in this lawsuit. You may be able to sue (or continue to sue) the Defendant in the future.
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No. Unless you exclude yourself, you give up the right to sue the Defendant for the claims that this settlement resolves. If you have a pending lawsuit, speak to your lawyer in that suit immediately. You must exclude yourself from this Class to continue your own lawsuit. Remember that the exclusion deadline is March 10, 2024.
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No. If you exclude yourself, you are not eligible for any money or forgiveness of uncollected fees from this settlement.
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The Court appointed the law firms of KalielGold, PLLC and The Kick Law Firm, APC to represent you and other Class Members. Together, the lawyers are called Class Counsel. You will not be charged for these lawyers. If you want to be represented by your own lawyer, you may hire one at your own expense.
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Class Counsel will ask the Court for attorneys’ fees and expenses of up to one-third of the Value of the Settlement, reimbursement of expenses, and service payments totaling $15,000 to the three Class Representatives, to be paid from the Settlement Fund. The amount of these fees must be approved by the Court.
You can tell the Court that you don’t agree with the settlement or some part of it.
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If you’re a Class Member, you can object to the settlement if you don’t like any part of it. You must state the reasons for your objection and include any evidence, briefs, motions or other materials you intend to offer in support of the objection. The Court will consider your views. To object, you must send a letter saying that you object to Roman v. McCoy Federal Credit Union. You must include your name, address, telephone number, your signature, and the reasons you object to the settlement. You must mail the objection to three different places postmarked no later than March 10, 2024.
COURT | CLASS COUNSEL | DEFENSE COUNSEL |
|---|---|---|
Clerk Circuit Court by and for the Eighteenth Judicial Circuit, Seminole County, Florida 301 N. Park Avenue Sanford, FL 32771-1243 | Taras Kick The Kick Law Fim, APC 815 Moraga Drive Los Angeles, CA 90049 | James Branit Litchfield Cavo LLP 303 W. Madison St. Suite 300 Chicago, IL 60606 |
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Objecting is simply telling the Court that you don’t like something about the settlement. You can object only if you stay in the Class. Excluding yourself is telling the Court that you don’t want to be part of the Class. If you exclude yourself, you have no basis to object because this case no longer affects you.
The Court will hold a hearing to decide whether to approve the settlement. You may attend and you may ask to speak, but you don’t have to.
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The Court will hold a Final Approval Hearing on May 2, 2024, at 1:30pm on at the Circuit Court by and for the Eighteenth Judicial Circuit, Seminole County, Florida, 301 N. Park Avenue, Sanford, FL 32771-1243315, or by telephonic or videoconference, which will be listed on the settlement website. At this hearing, the Court will consider whether the settlement is fair, reasonable, and adequate. If there are objections, the Court will consider them. The Court will listen to people who have asked to speak at the hearing and complied with FAQ 20. The Court may also decide how much to pay Class Counsel. After the hearing, the Court will decide whether to approve the settlement. We do not know how long these decisions will take. You are not required to attend this hearing.
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No. You are welcome to come at your own expense if you wish, but Class Counsel will answer questions the Court may have. If you send an objection, you don’t have to come to Court to talk about it. As long as you mail your written objection on time, the Court will consider it. You may also pay your own lawyer to attend, but it’s not necessary.
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You may ask the Court for permission to speak at the Final Approval Hearing. To do so, you must send a letter saying that it is your “Notice of Intention to Appear in Roman v. McCoy Federal Credit Union.” You must include your name, address, telephone number, your signature, and any evidence you intend to use at the hearing. Your Notice of Intention must be postmarked no later than April 17, 2024, and be sent to the Clerk of the Court, Class Counsel, and Defense Counsel at the three addresses listed under FAQ 16. If you hire a lawyer to speak for you, he or she must also comply with the requirements of this paragraph.
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If you do nothing, you will be a part of this settlement, and you will receive the payments, credit, or debt forgiveness provided by the settlement once it becomes final. In exchange for the payment, credit, and/or debt forgiveness you won’t be able to start a lawsuit, continue with a lawsuit, or be part of any other lawsuit against the Defendant relating to the claims released in the Settlement Agreement.
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The notice summarizes the proposed settlement. More details, including the settlement agreement, are available on the Home page of this website. You can also call toll free (888) 369-3799.
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