Cash App Borrow Military Lending Settlement

You are in the Settlement Class only if all of the listed conditions apply: by May 28, 2025, you obtained a Cash App Borrow loan through Cash App from FEB or SFS; you were a covered borrower under the Military Lending Act (MLA) when you got the loan; and that loan’s Military Annual Percentage Rate was over 36%.

The notice says that people who received a mailed or emailed notice should have been identified as class members in Defendants’ records. If you are unsure, the notice directs you to contact the Settlement Administrator.

No claim form is required. If the Court grants final approval and you stay in the Settlement, the notice says payment will be automatic.

The current estimate is about $58.95 for each eligible Cash App Borrow loan. This is not a guaranteed fixed amount: payments come from the settlement fund after approved fees, expenses, administration costs, and any service award are paid.

The notice says there may be a second payment if some settlement payments are left uncashed or otherwise undeposited. The amount, if there is one, will depend on how many initial payment checks are cashed.

The notice says payment may be made by check or electronically. It says the payment will go to the address Cash App has on file unless you use the Settlement Website to choose electronic delivery or ask for an address change.

The notice does not give a separate deadline for making an electronic-payment selection or changing an address.

Opting out means leaving the Settlement. You would not receive settlement money, but you would keep any legal rights you may have to bring your own claims against the Defendants. You also would not be bound by the settlement’s release or the Court’s orders in this settlement.

To opt out, mail a written and personally signed request to the Settlement Administrator. It must be postmarked by January 25, 2027, and include your name, address, phone number, Cash App $Cashtag, and a statement requesting exclusion from this case.

You may object if you remain in the Settlement and believe it is not fair, reasonable, or adequate. An objection does not remove you from the Settlement. If the Court approves the settlement over your objection, you remain bound by it and will receive the settlement payment described in the notice.

Your written objection must identify the case, explain your reasons, and be filed with or sent to the Court by February 1, 2027. You may include supporting documents you want the Court to consider.

The Final Fairness Hearing is scheduled for 9:00 a.m. on March 23, 2027, at the Ronald V. Dellums Federal Building & U.S. Courthouse in Oakland, California. The Court will consider whether the proposed settlement is fair, reasonable, and adequate, and will hear objections.

You do not have to attend. The notice also warns that the hearing may be postponed without further notice and does not say when a final decision or payments will occur.