Class Action Payment Methods: Building The Best Process
March 7, 2014, 4:57 PM EST
Law360, New York (March 7, 2014, 4:57 PM EST) -- In the class action settlement administration industry, the payment method chosen can have a great impact on budgets, timelines and administrative burdens. Counsel must also consider the best method to ensure class members can get the award they are due. Payment methods include checks that are sent through the mail, wire distributions or direct bank deposits.
In the U.S., most domestic payments are made by check, whereas in Europe, check usage is far lower and most distributions are made via wire or automated clearing house ("ACH")....