Numi Financial Settlement: How to Claim Your Share of the $4M Release Card Fund
Company
Numi Financial
Why
Unsolicited debit cards and fees
Total Settlement Amount
$4M
Maximum Individual Claimant Award
Varies
Claim Deadline
November 18, 2024
Did you receive a Numi Financial release card after being released from a correctional facility? You might be entitled to a share of the $4 million class action settlement. This settlement addresses allegations that Numi Financial charged excessive fees to cardholders who received their funds through these mandatory release cards.
Our step-by-step instructions will show you how to verify your eligibility, submit your claim, and get the compensation you deserve through Numi Financial.
Understanding the Numi Settlement
The Numi Financial settlement stems from a class action lawsuit challenging the company's practice of issuing unsolicited debit cards to released inmates. We found that when individuals were released from detention facilities, instead of receiving their confiscated cash, they were given pre-activated debit cards that came with various fees.
The lawsuit specifically addressed several concerning practices. These included a $5.95 monthly maintenance fee, a $2.95 ATM fee, and a $1.50 balance inquiry fee. The settlement class encompasses a significant number of affected individuals - 153,688 people who received these cards between April 1, 2017, and April 30, 2018.
The settlement terms are substantial, with Numi Financial and Central National Bank agreeing to establish a $4 million settlement fund. Here's what qualifies someone for the settlement:
Detention facility confiscated your cash upon arrest
Received a Numi release card after July 2014
Card was issued from one of the over 1,000 participating facilities
Each eligible class member who files a valid claim can receive up to three times the amount they paid in fees, with a minimum payment of $15 guaranteed.
Step-by-Step Claims Process
Verify Your Eligibility
Confirm you received a Numi release card after July 2014
Check if your detention facility is among the 1,000+ eligible locations
Gather Documentation
Collect proof of fees incurred on your Numi release card
Prepare any supporting documents showing card usage
Submit Your Claim
File your claim before November 19, 2024
Include all required documentation
Once your claim is processed, you can expect to receive at least $15, with the potential to recover up to three times the amount you paid in fees. The final payment amount may vary based on the total number of valid claims submitted, as payments could be adjusted on a pro-rata basis.
We recommend submitting your claim as soon as possible to ensure proper processing. The settlement's final approval hearing is scheduled for December 10, 2024, after which approved payments will begin to be distributed.
Conclusion
Time remains critical as the November 19, 2024 deadline approaches. The straightforward claims process we outlined makes it possible for eligible cardholders to seek compensation without unnecessary complications.