Consumer Loans Class Action
Many lenders, including big banks, mortgage servicers, auto-loan processors, and even credit-card issuers, accept an electronic payment today, park the cash in their own accounts overnight, and wait days to post the credit to yours. Those “float” days earn them risk-free interest while you rack up extra finance charges and the risk of late-fee hits or credit-score dings.
If borrowers stay silent, the industry will lock in a business model that turns every on-time payment into hidden revenue. Acting together, we can force lenders to post payments promptly, refund bogus charges, and respect the terms we all agreed to.
We work on contingency. There are no fees unless we recover money for you. Answer a few quick questions below; our team will review your answers at no charge and contact you if you qualify.
At a Glance
Who is affected?
Anyone who pays mortgages, auto loans, student loans, credit cards, or personal loans and has noticed a “processing delay” before the lender credits the payment.
Who is affected?
Loevy + Loevy is preparing a class action alleging that major financial institutions hold loan payments for days, earning float and padding interest while borrowers face late fees and higher balances, violating federal consumer-credit laws and state unfair-practice statutes.
Current stage
Gathering monthly statements, payment confirmations, and late-fee notices. No lawsuit filed yet; expected filing window in 2025.
Your rights
Borrowers may seek repayment of excess interest, reversal of late fees, statutory penalties, and an injunction requiring next-day crediting of funds.
Cost
Nothing up front. All litigation costs are advanced; we’re paid only if we win or settle favorably.
How you can protect your payments
If you send your mortgage, auto loan, student loan, or credit card payment on time and your lender waits days to credit it, costing you extra interest or late fees, you likely qualify for this case.
You don’t have to gather special evidence now; simply complete the secure form below and tell us which lender you use and how long the posting delay was. There is no cost for submitting, and our team will reach out only if we believe we can help. Our review is free, confidential, and you owe nothing unless we win compensation for you.
Submission Form
FAQs
Will my lender close my account or lower my credit line if I join?
Retaliation is illegal. Banks that try only add new liability. We can seek an injunction if needed.
Should I stop making payments?
No. Keep paying on time. The lawsuit targets delayed posting, not your obligation to repay.
Can this hurt my credit score?
No. Joining a class action is not reported to credit bureaus; timely payments help your score.
What could I recover?
Refunds of extra interest, reversal of late fees, and statutory damages, often $500–1,000 per violation, plus corrected account history.
What will this cost me?
Nothing up front. Loevy + Loevy advances every expense and collects a fee only if we win.
What proof should I keep?
Save payment confirmations, bank “payment received” notices, account statements showing posting delays, and any late-fee letters or credit-report entries tied to the delay. The clearer your records, the stronger your claim.
Why Join a Class Action?
Joining a class action means shared costs, greater leverage, and a real chance to hold wrongdoers accountable—all without taking on the fight alone. And you pay nothing unless we win.i
