Earnin Users Seek OK For $12.5M Settlement Deal

By Emilie Ruscoe (July 28, 2020, 4:28 PM EDT) -- App-based pay advance service Earnin has agreed to pay as much as $12.5 million to end its users' claims that it misled the public about its offerings, hurting consumers who were charged bank fees as a result.

In a July 27 motion, plaintiffs Mary Perks and Stanley Alexander asked U.S. District Judge Beth Labson Freeman to approve a proposed settlement according to which Activehours Inc., the company that developed Earnin, would put $3 million into a settlement fund and would forgive up to $9.5 million owed by users whose accounts had been suspended for nonpayment but who want to use one...

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