City Attorney Dennis Herrera and Dollar have reached a settlement requiring Dollar to pay restitution to California consumers who took out the loans at issue
City Attorney Dennis J. Herrera sued Dollar Financial Group Inc., alleging that certain payday loans offered in Money Mart stores in 2005 were illegal and that installment loans offered in Money Mart stores from 2005 to 2007 were illegal. The City Attorney and Dollar have reached a settlement requiring Dollar to pay restitution to California consumers who took out the loans at issue.
Who Is Eligible For Restitution?
You may be eligible to receive restitution if you borrowed a payday loan (sometimes called a Cash 'Til Payday Loan) at a Money Mart store between January 2005 and July 2005 or if you borrowed an installment loan (sometimes called a CustomCash loan) at a Money Mart store from July 2005 through March 2007.
How Much Restitution Can I Receive?
A customer who took out one or more of these loans could receive the full amount of interest, fees or finance charges that he or she paid, minus $45 for each two weeks of the loan term, minus any other amounts he or she owes to Dollar for the loan principal on this or other loans, and minus any amounts he or she owes to Dollar in connection with check-cashing transactions. The amount any customer receives will depend on his or her particular circumstances and may depend on how many people apply for restitution. More information is available in the Settlement Agreement.
How Can I Apply For Restitution?
Dollar, through the settlement administrator Gilardi & Co., will provide written notice to all customers who borrowed the loans described above over the next several months. The written notice will include a form that you can fill out and return to claim your restitution payment if you are eligible for one. If you think you are eligible for restitution and want to make sure that you get notice, please contact City Attorney's Office via at cityattorney@sfgov.org, with the subject line "Dollar Restitution" and include the following information:
Name:
Current Address:
Email Address:
Telephone Number:
If you want further information, you can contact deputy city attorney Christine Van Aken at (415) 554-3875.
