CONSUMER RESTITUTION. 2. That within ninety (90) calendar days following the Effective Date as defined below in Paragraph 21 of this Agreement, Prospect shall pay restitution to every borrower in every Participating State that was assessed a C2C Settlement Service Fee during the C2C Operations Period, (hereinafter, “Covered Borrower(s)”) in the amount of $40.00 with interest of ten (10) percent per annum from the date the C2C Settlement Service Fee was charged.
3. That each and every restitution payment contemplated under this Agreement will be made by check, payable to the Covered Borrowers’ last known mailing address, or such updated mailing address as can be identified through customary address verification means.
4. That if any restitution to any Covered Borrower(s) cannot be made due to the inability to locate the Covered Borrower(s) or the failure of any Covered Borrower(s) to cash the refund check, the State Mortgage Regulator may require that such funds be escheated to the state or submitted as unclaimed property in accordance with the applicable law of that Participating State. This in no way affects Prospect’s obligation to abide by the applicable unclaimed property law in a participating State.
5. That Prospect shall bear the cost of all related expenses related to providing consumer restitution described herein, including, but not limited to, the costs of mailing and stopping payment on outstanding checks that are not returned or cashed.
CONSUMER RESTITUTION. (1) Within fifteen (15) days, the Bank shall deposit five million one hundred thousand dollars ($5,100,000) into a segregated deposit account at the Bank (“Restitution Account”), which represents an estimate of the restitution required by this Article. Additional amounts shall be deposited into the Restitution Account if necessary to fully comply with this Article.
(2) Funds deposited into the Restitution Account pursuant to Paragraph (1) of this Article shall be used to make direct restitution payments by issuing checks to each “Eligible Consumer,” as defined in Paragraph (3) of this Article.
(3) “Eligible Consumer,” for purposes of this Agreement, is defined as any individual or entity that:
(a) had funds withdrawn from their account and deposited into an account at the Bank via a remotely created check (“RCC”), demand draft, or similar instrument generated by Giact on behalf of any of the following merchants between September 1, 2006 and August 31, 2007:
(i) Action Results Marketing LLC;
(ii) Enterprise Technology Group, Inc. dba AmeriTrust Financial;
(iii) GA Financial LLC dba Platinum Advantage;
(iv) Low Pay, Inc.
(v) Reliant Holdings, Inc. dba Horizon Card Services;
(vi) V2 & Sons dba Xxxxxxxxxxxxx.xxx;
(vii) C1L LLC dba Credit One Law;
(viii) EZO LLC dba SaveYourCreditRating;
(ix) My Clean Start, Inc.;
(x) Global USI Communications Services dba USI Services, Inc.;
(xi) RSLN Financial dba XxxXXX and dba Club America Fulfillment;
(xii) XxxxxxXxxxxxxx.xxx LLC; and
(xiii) Market Power Marketing Solutions LLC dba VS_MC Card Services; and
(b) the funds withdrawn from the individual or entity’s account have not already been repaid to the individual or entity by the Bank, Giact, the merchant, or the Federal Trade Commission (“FTC”).
(4) Restitution shall be in an amount that will fully reimburse each Eligible Consumer the amount of funds withdrawn from their account.
(5) Within fifteen (15) days, the Board shall engage the services of an independent consultant experienced with consumer restitution to assist the Bank in developing and implementing a restitution plan as required by Paragraph (6) of this Article. Prior to finalizing the engagement, the Bank shall submit the name and qualifications of the independent consultant to the Assistant Deputy Comptroller for prior supervisory review and non-objection.
(6) Within sixty (60) days, the Board shall develop a restitution plan for carrying out the restitution required by this Article and submit it to the Ass...
CONSUMER RESTITUTION. (1) Within thirty (30) days of the execution of this Order, the Bank shall provide for the Assistant Deputy Comptroller’s approval a plan to identify and compensate “Eligible Consumers” who were harmed as a result of PrivilegePay (“Restitution Plan”). The Restitution Plan shall identify the methodology and total dollar amount of restitution that Eligible Consumers may receive.
(2) At a minimum, the Restitution Plan shall identify and provide for compensation to “Eligible Consumers,” who are defined as follows:
(a) all consumers at the Bank from January 1, 2005 until the execution of this Agreement who, in any given month or on any monthly account statement, were charged and paid overdraft fees (continuous or per incident overdraft fees) in excess of the overdraft limit established by the Bank for each account, excluding the following fees from such compensation:
(i) continuous or per incident overdraft fees that were imposed but not paid or paid but later refunded; and
(b) all consumers at the Bank from October 1, 2007 until the execution of the Formal Agreement who paid more than seven continuous overdraft fees in any period in which the consumer’s account remained continuously overdrawn, excluding the following fees from such compensation:
(i) continuous overdraft fees that were imposed but not paid or paid but later refunded;
(ii) continuous overdraft fees that were paid after day thirty five of a continuous overdraft; and
(iii) continuous overdraft fees that are refunded pursuant to any restitution described above for overdraft fees paid in excess of the overdraft limit established by the Bank; but
(c) the term “Eligible Consumers” shall not include business accounts at the Bank.
(3) The Restitution Plan shall include a process for offsetting the following against the restitution sum due to an Eligible Consumer (“Netting”):
(a) the amount of any overdrafts covered by the Bank on the Eligible Consumer’s account and accompanying overdraft fees due from the Eligible Consumer, whether or not they have been charged off by the Bank;
(b) the amount of any overdraft fees that were refunded to an Eligible Consumer for a transaction that would otherwise be compensable under the Restitution Plan; and
(c) notwithstanding the above, the Bank is not entitled to reduce an Eligible Consumer’s restitution sum for fees that, had they been paid by the Eligible Consumer, would be included in the Eligible Consumer’s restitution sum.
(4) The Restitution Plan shall establish...
CONSUMER RESTITUTION. Respondent shall pay restitution as follows:
1. If Respondent is able to identify and segregate credit/debit card payments from cash transactions for fuel, Respondent shall issue a chargeback or other automatic refund of the Refund Amount directly to each consumer. Within 14 days of the Effective Date of this Assurance, Respondent will provide the State a list of consumers who received chargebacks under this provision. Such information shall include the Refund Amounts and the names of the persons receiving the chargebacks; and
2. If Respondent is not able to identify and segregate credit/debit card payments from cash transactions for fuel, and/or if Respondent has additional consumers who made cash payments for their fuel transactions, Respondent shall disgorge to the State of Texas the amount of TWO HUNDRED EIGHTY AND NO/100 DOLLARS ($280.00) for these consumers and Respondent shall make such payment to the State on the Effective Date. This payment will be referred to as the Restitution Payment. Respondent’s payment to the State of Texas shall be made by certified check or wire transfer, payable to the “STATE OF TEXAS,” bearing the reference AG# CX0089812683 and if not by wire transfer, delivered/mailed to the Office of the Attorney General, ATTN: Accounting, Division, 000 X. 00xx Xx., XX-000, Xxxxxx, XX 00000. The procedures for the distribution of the Restitution Payment are as follows:
3. The State will remit the Restitution Payment to the Claims Administrator to pay refunds and the costs of administration;
4. The parties have agreed to the use of the attached claim form or a substantially similar form agreed to by the parties. The Claims Administrator may begin accepting claim forms by April 15, 2019. The Claims Administrator will not accept claim forms later than June 30, 2019, which will be the Claims Deadline Date. No refunds will be distributed by the Claims Administrator until after the Claims Deadline Date passes. Consumers who properly complete the claim form will be eligible to receive a refund payment;
5. The Claims Administrator will have discretion, in consultation with the State of Texas, to determine if the claim form has been properly completed and timely submitted, and to determine the specific Refund Amount each Eligible Consumer will receive. Once all Eligible Consumers have received their Refund Amount, and once the administration costs have been paid, the Claims Administrator, in consultation with the State of Texas, may pay additio...
CONSUMER RESTITUTION. 6.1 Xxxxxx asserts that as a result of this investigation and in a measure of good faith it has reviewed its original invoices and bills sent to consumers and re-transmitted adjusted invoices to all consumers affected. In doing so it has made monetary adjustments to said invoices reducing the amount owed by approximately $203,000 as outlined in Exhibit #1.
6.2 In certain limited situations, Xxxxxx agrees, only after consultation with the OAG, to accept as final payment from consumers listed in Exhibit #1, an amount that will not be greater than an amount received by said consumer from their insurance company for hurricane related repairs or services.
CONSUMER RESTITUTION. (1) The Bank has deposited into a segregated deposit account at the Bank an amount not less than one hundred twenty-five million dollars ($125,000,000) to make restitution to consumers as required by this Article. Additional amounts shall be provided by the Bank as necessary to fully comply with this Article.
(2) Within sixty (60) days from the date of this Amended Agreement, the Bank shall make direct restitution to each “Eligible Consumer”. “Eligible Consumer” for purposes of this Amended Agreement, is defined as any individual or entity:
(a) that had a remotely created check (“RCC”) generated by Payment Processing Center, LLC (“PPC”); FTN Promotions, Inc. dba Suntasia Inc., Guardian Marketing Services, Corp., Strategia Marketing, LLC, or any related companies (collectively, “Suntasia”) or Netchex Corp., Your Money Access, LLC, YMA Company, LLC or any related companies (collectively, “YMA/Netchex”) drawn on their account and deposited into an account at the Bank owned by PPC, Suntasia or YMA/Netchex; and
(b) that has not been reimbursed for the amount of the PPC, Suntasia or YMA/Netchex-generated RCC by a return of the item to the Eligible Consumer by the Bank or otherwise.
(3) The Bank shall work in conjunction with the Receiver appointed in United States v. Payment Processing Center, LLC, Case No. 06-725, in the United States District Court, Eastern District of Pennsylvania , and the Receiver’s Claims Administrator, Rust Consulting, Inc. (“Rust”), to develop a database containing the name, current address and amount of restitution due to each Eligible Consumer (“the Rust database”). The Bank may also employ Rust to assist the Bank with carrying out the requirements of this Article.
(4) When the Rust database is complete, the Bank shall direct Rust to mail restitution checks directly to each Eligible Consumer via first-class U.S. mail. The Bank shall notify the Deputy Comptroller when the checks are delivered to the U.S. Postal Service for mailing.
(5) After the restitution checks are mailed to each Eligible Consumer, the Bank shall work with Rust to identify and compile a list of all checks that are returned to Rust by the U.S. Postal Service as undeliverable mail.
(a) For restitution checks in an amount greater than two hundred dollars ($200.00) that are returned to Rust as undeliverable mail, the Bank shall direct Rust to perform a one-time automated Lexis/Nexis search to determine whether the Eligible Consumer has a more current address. If a more c...
CONSUMER RESTITUTION. 18. Pursuant to this Assurance, Respondent agrees to provide restitution to consumers for transactions for the sale of 3M masks that took place from March 13, 2020 through the present. Within 45 days following the entry of this Assurance of Voluntary Compliance, Respondent shall provide credit card chargebacks to the consumers whose purchases are represented by the invoice numbers listed on Exhibit A. The amount of restitution paid will be the difference between what the Respondent paid for the masks and what each consumer paid for masks.
CONSUMER RESTITUTION. (1) Within fifteen (15) days, the Bank shall deposit into a segregated deposit account at the Bank an amount not less than one hundred twenty-five million dollars ($125,000,000), which represents an estimate of the maximum potential restitution that may be required by this Article; actual claims filed may result in restitution in a lesser amount. Additional amounts shall be deposited into a segregated deposit account at the Bank if necessary to fully comply with this Article.
(2) Funds from the segregated deposit account required by Paragraph (1) of this Article shall be used to make full restitution to each “eligible PPC consumer.” “Eligible PPC consumer,” for the purposes of this Agreement, is defined as any individual or entity:
(a) that had an RCC generated by Payment Processing Center, LLC (“PPC”) drawn on their account and deposited into an account owned by PPC at the Bank; and
(b) that files a claim signed by the eligible PPC consumer with the Receiver appointed in United States v. Payment Processing Center, LLC, Case No. 06-725, in the Eastern District of Pennsylvania (“PPC Receiver”), which the PPC Receiver determines to be valid.
(3) Restitution shall be in an amount that will fully reimburse eligible PPC consumers the amount of each PPC-generated RCC drawn on the eligible PPC consumer’s account and deposited into an account owned by PPC at the Bank where the RCC was not returned or the consumer has not otherwise been reimbursed.
(4) The Bank shall make the funds deposited into the segregated deposit account pursuant to paragraph (1) of this Article available to the PPC Receiver, under the following conditions:
(a) upon receipt from the PPC Receiver of a certified request for an amount certain that specifies the dollar amount of valid consumer claims which exceeds the total funds then available to the PPC Receiver, the Bank shall transfer the specified dollar amount to an account designated by the PPC Receiver for the purpose of making restitution to eligible PPC consumers; and
(b) the Bank shall be entitled to return of any funds transferred from the Bank to the PPC Receiver not used by the PPC Receiver to make restitution to eligible PPC consumers or to pay the expenses associated with the claims process.
(5) Funds from the segregated deposit account required by Paragraph (1) of this Article shall be used to make full restitution to each “eligible Suntasia consumer.” “Eligible Suntasia consumer,” for purposes of this Agreement, is defined as an...
CONSUMER RESTITUTION. Restitution shall be paid to all California Consumers, as set forth in Exhibit A, attached to the Confidential Agreement to Protect California Consumers’ Privacy Rights and Other Ancillary Terms executed in conjunction with this Agreement. Restitution shall include the amount of the Membership Initiation Deposit per the Subledger plus ten percent (10%) annual interest from the date of maturity of the Membership Initiation Deposit. California Consumers will have the option to decline payment of the annual interest and instead choose to receive only their Membership Initiation Deposit.
CONSUMER RESTITUTION. (1) Within fifteen (15) days, the Bank shall deposit into a segregated deposit account at the Bank an amount not less than seven hundred seventy-five thousand dollars ($775,000), which represents an estimate of the maximum potential restitution that may be required by this Article; actual claims filed may result in restitution in a lesser amount. Additional amounts shall be deposited into a segregated deposit account at the Bank as necessary to fully comply with this Article.
(2) Funds deposited into the segregated deposit account pursuant to Paragraph (1) of this Article shall be used to make full restitution to each “eligible consumer.” “Eligible consumer,” for purposes of this Agreement, is defined as any individual or entity:
(a) that had a Bank credit card account;
(b) that requested to close the account anytime between January 1, 2004 and October 31, 2006;
(c) that was charged an annual membership fee (“AMF”) anytime within ninety (90) days of requesting that the account be closed; and
(d) whose balance was paid to zero dollars ($0) within the ninety (90) days of requesting the account be closed.
(3) Restitution shall be in an amount that will fully reimburse the eligible consumer the amount of the AMF, as well as any other fees paid by the consumer that directly resulted from the imposition of the AMF, including, but not limited to, interest charges, late fees, and over-limit fees. If the Bank has already refunded the AMF to an eligible consumer then the Bank shall still reimburse any fees paid by that consumer that were a direct result of the imposition of the AMF.
(4) Within thirty (30) days, the Board shall develop a restitution plan and submit it to the Deputy Comptroller for prior determination of supervisory non-objection. The restitution plan shall include the following:
(a) a description of the methods to be used, and the time necessary to compile a list of eligible consumers, reasonably verify each consumer’s address and issue checks to these consumers;
(b) a description of the procedures for issuance and tracking of restitution payments to eligible consumers, including procedures for handling undeliverable and non-negotiated reimbursement checks; and
(c) a description of the procedures for monitoring compliance with the restitution plan.
(5) Upon receipt of a determination of supervisory non-objection to the restitution plan submitted pursuant to Paragraph (4) of this Article, the Bank shall adopt, implement and adhere to the restitution p...
