Frequently Asked Questions

  1. Why did I receive a notice?
  2. What is the lawsuit about?
  3. Why is this a class action?
  4. Why is there a settlement?
  5. How do I know if I am part of the settlement?
  6. What does the settlement provide?
  7. What can I get from the settlement?
  8. What do I need to do to receive a payment from the settlement?
  9. When would I get my payment?
  10. What am I giving up to get a payment?
  11. How do I get out of the settlement?
  12. If I don’t exclude myself, can I sue later for the same thing?
  13. If I exclude myself, can I get money from this settlement?
  14. Do I have a lawyer in this case?
  15. How will the lawyers be paid?
  16. How do I tell the Court that I don’t like the settlement?
  17. What’s the difference between objecting and excluding?
  18. When and where will the Court decide whether to approve the settlement?
  19. Do I have to come to the hearing?
  20. What happens if I do nothing at all?
  21. Are there more details available about the settlement?
  1. Why did I receive a notice?

    The records of Keesler Federal Credit Union (“Defendant”) show that you were assessed an APPSN Fee or Futile ODT Fee. Because of this, you are a Class Member, and you may be affected by this class action settlement.
    The Court sent you notice because you have a right to know about the proposed class action settlement, and about your options, before the Court decides whether to approve the settlement. If you do nothing and the Court approves the settlement, and after any appeals are resolved, the Settlement Administrator will send you a payment as a check or as an account credit, and your claims will be released.
    This package explains the lawsuit, the settlement, your legal rights, what benefits are available, and how those benefits will be calculated.
    The Court in charge of the case is the U.S. District Court for the Southern District of Mississippi, and the case is known as Lloyd v. Keesler Federal Credit Union. The people who sued are called the Plaintiffs, and the credit union they sued is called the Defendant.

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  2. What is the lawsuit about?

    The lawsuit claims that Defendant improperly assessed the fees listed under Question 1 above. Defendant denies that it did anything wrong. Defendant claims that it was allowed to assess these fees, and properly did so in accordance with the terms of its account agreements and applicable law.

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  3. Why is this a class action?

    In a class action lawsuit, one or more people called Class Representatives sue on behalf of themselves and other people who have similar claims. All of these people are called a Class or Class Members. This is a class action because the Court has decided it meets the legal requirements to be a class action solely for the purposes of settlement and notice. Because the case is a class action, one court resolves the issues for everyone in the Class, except for those people who choose to exclude themselves from the Class.

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  4. Why is there a settlement?

    The Court did not decide in favor of the Plaintiffs or the Defendant. Instead, both sides agreed to a settlement. That way, they avoid the cost of a trial and the risks of either side losing, and they ensure that the people affected by the lawsuit receive compensation. Defendant does not in any way acknowledge, admit to or concede any of the Plaintiffs’ allegations and expressly disclaims and denies any and all fault or liability for the charges that have been alleged in this lawsuit. The parties think that the settlement is best for everyone involved under the circumstances. The Court will evaluate the settlement to determine whether it is fair, reasonable, and adequate before it approves the settlement.

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  5. How do I know if I am part of the settlement?

    If the email or postcard notice was addressed to you then you are a Class Member, you will be a part of the settlement, and you will receive the benefits of the settlement, unless you exclude yourself. If you are not sure whether you have been properly included, you can call the number at the bottom of this notice to check.

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  6. What does the settlement provide?

    The Defendant has agreed to create a Settlement Fund of $3,000,000 to settle this case. As discussed separately below, attorneys’ fees, litigation costs, the costs of this notice and for the costs of distributing the settlement benefits, among other settlement administration costs, and a service award to the Class Representatives will also be paid out of this amount.

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  7. What can I get from the settlement?

    After deducting the attorneys’ fees and expenses, costs of notice and administration, and a service award to the Class Representatives approved by the Court, there will be a Net Settlement Fund available for distribution to Class Members. Each Class Member will be paid from this fund on a pro rata basis, based on the amount of applicable fees assessed against the Class Member. For example, a Class Member who was assessed $1,000 in applicable fees will receive a check or account credit for twice as much as a Class Member who was assessed $500 in applicable fees.
    The actual amount of any Class Member’s check or account credit will be determined by an independent settlement administrator based on the following formula:

    You will not receive more in the settlement than the amount of the applicable fees that you were charged during the Class Period and are likely to receive less.

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  8. What do I need to do to receive a payment from the settlement?

    You do not need to do anything to receive a payment from the settlement. As long as you do not exclude yourself, you will receive a settlement payment if the settlement is approved and becomes final. If your address changes, however, please call the number at the bottom of this notice to report the address change so that your payment reaches you.

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  9. When would I get my payment?

    The Court will hold a hearing on August 2, 2022 to decide whether to approve the settlement. If the Court approves the settlement, there may be a period when appeals can be filed. Once any appeals are resolved or if no appeals are filed, it will be possible to distribute the funds. This may take several months and perhaps more than a year.

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  10. What am I giving up to get a payment?

    Unless you exclude yourself, you are staying in the Class, and that means you can’t sue, continue to sue, or be part of any other lawsuit against Defendant relating to the legal claims that were or could have been brought in this case. It also means that all of the Court’s orders will apply to you. Once the settlement is final, your claims relating to claims that were or could have been brought in this case will be released and forever barred.

    EXCLUDING YOURSELF FROM THE SETTLEMENT

    If you don’t want a payment from this settlement, but you want to keep the right to sue or continue to sue the Defendant on your own about the legal issues in this case, then you must take steps to get out. This is called excluding yourself—or is sometimes referred to as opting out of the settlement Class.

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  11. How do I get out of the settlement?

    To exclude yourself from this settlement, you must send a letter by mail stating that you want to opt out or be excluded from Lloyd v. Keesler Federal Credit Union. The letter must include your name, address, telephone number, and your signature. You must mail your exclusion request postmarked no later than July 1, 2022 to:

    Lloyd v. Keesler Federal Credit Union

    Exclusions

    P.O. Box 43501

    Providence, RI 02940-3501

    You can’t exclude yourself on the phone or by email. If you ask to be excluded, you will not get any settlement payment, and you cannot object to the settlement. You will not be legally bound by anything that happens in this lawsuit. You may be able to sue (or continue to sue) the Defendant in the future.

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  12. If I don’t exclude myself, can I sue later for the same thing?

    No. Unless you exclude yourself, you give up the right to sue the Defendant for the claims that this settlement resolves. If you have a pending lawsuit, speak to your lawyer in that suit immediately. You must exclude yourself from this Class to continue your own lawsuit. Remember that the exclusion deadline is July 1, 2022.

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  13. If I exclude myself, can I get money from this settlement?

    No. If you exclude yourself, you are not eligible for any money from this settlement.

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  14. Do I have a lawyer in this case?

    The Court appointed the law firms of Kaliel Gold PLLC and Weldy Law Firm, PLLC to represent you and other Class Members. Together, the lawyers are called Class Counsel. You will not be charged for these lawyers. If you want to be represented by your own lawyer, you may hire one at your own expense.

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  15. How will the lawyers be paid?

    Class Counsel will ask the Court for attorneys’ fees and expenses of up to one-third of the Settlement Fund, reimbursement of expenses, and a service payment of $12,500 total for the Class Representatives, to be paid from the Settlement Fund. The amount of these fees must be approved by the Court.

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  16. How do I tell the Court that I don’t like the settlement?

    If you’re a Class Member, you can object to the settlement if you don’t like any part of it. You must state the reasons for your objection and include any evidence, briefs, motions or other materials you intend to offer in support of the objection. The Court will consider your views. To object, you must send a letter stating that you object to Lloyd v. Keesler Federal Credit Union. You must include your name, address, telephone number, your signature, and the reasons you object to the settlement. You must mail the objection to the Settlement Administrator postmarked no later than July 1, 2022:

    Lloyd v. Keesler Federal Credit Union

    Settlement Administrator

    P.O. Box 43501

    Providence, RI 02940-3501

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  17. What’s the difference between objecting and excluding?

    Objecting is simply telling the Court that you don’t like something about the settlement. You can object only if you stay in the Class. Excluding yourself is telling the Court that you don’t want to be part of the Class. If you exclude yourself, you have no basis to object because this case no longer affects you.

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  18. When and where will the Court decide whether to approve the settlement?

    The Court will hold a Final Approval Hearing at 9:30 a.m. on August 2, 2022 at the U.S. District Court for the Southern District of Mississippi. At this hearing, the Court will consider whether the settlement is fair, reasonable, and adequate. If there are objections, the Court will consider them. The Court will listen to people who have asked to speak at the hearing and complied with question 16 of this notice. The Court may also decide how much to pay Class Counsel. After the hearing, the Court will decide whether to approve the settlement. We do not know how long these decisions will take. You are not required to attend this hearing.

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  19. Do I have to come to the hearing?

    No. You are welcome to come at your own expense if you wish, but Class Counsel will answer questions the Court may have. If you send an objection, you don’t have to come to Court to talk about it. As long as you mailed your written objection on time, the Court will consider it. You may also pay your own lawyer to attend, but it’s not necessary.

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  20. What happens if I do nothing at all?

    If you do nothing, you will be a part of this settlement, and you will receive the payments provided by the settlement once it becomes final. In exchange for the payment, you won’t be able to start a lawsuit, continue with a lawsuit, or be part of any other lawsuit against the Defendant relating to the claims released in the Settlement Agreement.

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  21. Are there more details available about the settlement?

    This notice summarizes the proposed settlement. More details are available in the Settlement Agreement on file with the Court. You can also call toll-free 855-909-5539 or visit the website at www.kfcufeesettlement.com.

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