Welcome to the Information Website for the Richards v. Chime Financial Settlement
If You Were a Chime Financial, Inc. Account holder Between October 16, 2019, and October 19, 2019, a Class Action Settlement May Affect Your Rights.
Update October 8, 2021:
The Class Action Settlement Agreement is now final. There isn’t anything you need to do if you filed a claim by the claim deadline of February 15, 2021. If you were a Settlement Class Member who submitted a valid Claim, please note that individual payments are expected to be administered by November 19, 2021. Only those Settlement Class Members who submitted valid Claims will receive a payment, which will be reduced by any credits previously provided.
For those Settlement Class Members who submitted a Tier 2 claim, and who received a different amount of money than they claimed, please note that as explained in the terms of the Settlement Agreement, you are receiving a different amount of money because the Settlement Administrator could not substantiate the amount you claimed based on the documentation you provided. Your claims were either paid at the amount claimed that was substantiated or were treated as Tier 1 claims, and paid at that amount. The evaluation of each of the claims was done by the Settlement Administrator, not by Defendants or their counsel or the Class Representatives or their counsel. Should you have any questions or concerns regarding this, please contact the Settlement Administrator. Information for doing so is available on the “Contact" page of this website.
Please also note that if you elected to have your settlement payment deposited directly into your Chime account, and your Chime account has since been closed, a check will be mailed to the address you provided on the Claim Form. This may delay your payment.
A Settlement has been reached in a class action lawsuit concerning certain Chime Financial, Inc. (“Chime”) deposit accounts, and the intermittent disruption in service that some accountholders experienced for portions of a period of time between October 16, 2019, and October 19, 2019. The lawsuit is called Richards, et al, v. Chime Financial, Inc., Case No. 4:19-cv-06864 (N.D. Cal.). The lawsuit alleges that some holders of Chime deposit accounts experienced an intermittent disruption in service for portions of the period of time between October 16, 2019, and October 19, 2019 (the “Service Disruption”). The Defendants in the lawsuit are Chime Financial, Inc. (“Chime”), The Bancorp Inc. (“Bancorp”), and Galileo Financial Technologies LLC (formerly known as Galileo Technologies, Inc.) (“Galileo”) (and collectively “Defendants”). Defendants in the lawsuit deny that they are or can be held liable for the claims made in the lawsuit. The Settlement does not establish who is correct, but rather is a compromise to end the lawsuit.
Defendants have agreed to pay, subject to the Court’s approval and up to amounts as identified in the Settlement Agreement, the cost of notice and administration of the Settlement, the Service Awards to the Class Representatives, and Class Counsel’s attorneys’ fees and expenses.
The Settlement offers payments to Settlement Class Members who file valid Claims.
Your legal rights are affected whether you act or do not act. Please read this website carefully.