Published
November 28, 2024
Updated
July 29, 2026
LoanDepot’s $1.025 million settlement received final approval in April 2025, and the administrator says valid claims will be paid under the agreement.
Current Status
The court granted final approval on April 21, 2025. The March 3, 2025 claim deadline has passed. The official site says distribution will begin under the settlement terms but does not confirm a payment-issuance date.StatusFinal approval granted
Claim DeadlineMarch 3, 2025 (Passed)
BenefitPro rata cash payment
Proof RequiredA valid claim form was required
What Was This Case About?
The lawsuit alleged that loanDepot made recurring electronic withdrawals without providing consumers a copy of the written authorization for preauthorized transfers, as required by federal law. LoanDepot denied the claims and allegations.Who Was Included?
The class covered people in the United States whose bank accounts loanDepot debited on a recurring basis without providing a copy of the authorization from September 21, 2021 through October 6, 2023.How Are Payments Determined?
Approved claimants receive a pro rata share of the net fund after court-approved deductions. New claims are not accepted.Official Information
Review notices and documents on the LoanDepot EFTA Settlement website.
Settlement Amount
$1,025,000
Case Title
Jweinat and Lechleitner v. loanDepot.com, LLC
Case Number
CGC-23-605149
Court
Superior Court of California, County of San Francisco
Current Milestone
Final approval entered April 21, 2025
Official Website
LoanDepot EFTA Settlement
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