What is a class action?

In a class action, one or more people called Representative Plaintiffs sue on behalf of all other people with similar claims. Together, the people included in the class action are called a Class or Class Members. One court resolves the issues for all Class Members, except for those who exclude themselves from the Class.

Why is there a settlement?

The Court did not decide in favor of the Plaintiffs or the Defendant. Instead, both parties agreed to a settlement. This way, they avoid the cost and burden of a trial and the people affected can get benefits. The Settlement does not mean that Money Mart broke any laws or did anything wrong. Furthermore, the Court did not decide which side was right.

What does the settlement provide?

The Defendants agreed to settle the actions for a maximum of $21,385,000. After deduction of legal fees and expenses, there will be $13,543,830 to be distributed to the persons that file a claim in the Settlement. Assuming that the total cheque cashing fees paid by claimants exceed this amount, it will be divided among those claimants based on the total fees they paid. In other words, the share of a claimant that paid $2,000 in fees will be twice as much as a claimant that paid $1,000 in fees. The settlement benefit is in the form of a cash redeemable voucher that can either be used for services at a Money Mart location or converted to cash in late 2021 (estimated).

When would I get my settlement?

We estimate that the cash redeemable vouchers will be mailed to claimants on November 20, 2018. However, this may be delayed if there are problems with the calculation of entitlements or appeals are filed in the settlement. The vouchers can either be used for services at a Money Mart location or converted to cash in late 2021 (estimated).

What are the Released Persons and the Settled Claims?

Released Persons mean the Defendants (National Money Mart Company, Dollar Financial Group, Inc., Money Mart Spruce Grove Ltd., Money Mart St. Albert Ltd., Money Mart Leduc Ltd.,Noralta Money Mart Ltd., Money Mart Lloydminster Ltd., 1008485 Alberta Ltd., 815028 Alberta Ltd., and 632758 Alberta Ltd.), their respective predecessors, successors, parents, subsidiaries, affiliates, heirs, executors, administrators, assigns, officers, directors, shareholders, employees, attorneys, agents and representatives, and all others who received any benefit, direct or indirect, (including interest, fees, and any money or other property or thing in law, equity, statutory or otherwise) in connection with an Eligible Fast Cash Advance Transaction.

Settled Claims mean any claim, liability, right, demand, suit, matter, obligation, damage, loss or cost, action or cause of action of every nature and description, in law or in equity, that the Class Members have, had or may have up to and including the end of the Settlement Period, including assigned claims, whether known or unknown, accrued or which may hereafter accrue, asserted or unasserted, latent or patent, that is, has been or could have been asserted by the Class Members in the Actions against any of the Released Persons arising from or in any way related to the Common Issues and/or the facts and allegations asserted in the Actions. Without limiting the generality of the foregoing, Settled Claims shall include any claims for a breach or violation of s. 347 of the Criminal Code, for an injunction, for damages for conspiracy, punitive damages, interest and costs, and any claims for a breach or violation of any federal or provincial statute, case law, common law, other law, equity, regulation or ordinance; any claims for breach of any duty imposed by law, by contract, or otherwise; any claims based on negligence, reliance, breach of express or implied warranty, conspiracy, deceptive or unconscionable acts or practices, breach of statutory duty, consumer fraud, negligent misrepresentation or omission, reckless misrepresentation or omission or intentional misrepresentation or omission; any claims for recovery of, or an interest in, any money or other property or thing; and any claims for penalties, arising from or in any way related to the common issues and/or the facts and allegations asserted in the Actions. Excepted always from this definition are any claims arising out of the Settlement Approval Order and the Agreement and the failure of the Defendants to comply with their obligations particularized in the Settlement Approval Order and the Agreement.

Do I have a lawyer in this case?

The law firms of Bennett Mounteer LLP and Cuming & Gillespie were appointed by the Alberta Court of Queen's Bench and the Manitoba Court of Queen's Bench to represent class members.

How will the lawyers be paid?

The lawyers have already been paid from the settlement amounts. When Plaintiffs hired the lawyers to bring these actions (which were started in 2004), they entered into a retainer agreement which provided that the lawyers would be paid 1/3 of any amounts recovered in the class action, and be repaid for any costs assocated with bringing the claim (i.e. filing fees and travel expenses). When the Courts approved the Settlement they also approved that retainer agreement as fair and reasonable.

How do I get out of the settlement?

If you do not want to participate you can either do nothing or file an opt-out form. This form is located in the Court Documents section. Unless you exclude yourself by filing an opt-out form, you are giving up the right to sue Money Mart and the Released Parties for the claims that this settlement resolves. You must exclude yourself from this Settlement Class to start or continue with your own lawsuit against Money Mart or any of the Released Parties.

If I do not opt myself out of the settlement, can I sue Money Mart or the Released Parties for the same legal claims later?

No. Unless you exclude yourself, you are giving up the right to sue Money Mart and the Released Parties for the claims that this settlement resolves. You must exclude yourself from this Settlement Class to start or continue with your own lawsuit against Money Mart or any of the Released Parties.

What happens if I do nothing at all?

If you are Settlement Class Member and you do nothing, you will give up both your right to participate in the settlement, including your right to start a lawsuit, continue with a lawsuit, or be part of any other lawsuit against Money Mart and the Released Parties about the legal issues resolved by this settlement. However, you may still be entitled to debt reduction.

What if I have a question not covered above?

If you have a question not covered above, you can email us at claims@moneymartclassaction.ca, message us on twitter or facebook (links above), or call us at 1-800-639-0225.

What is the lawsuit about?

The Plaintiffs’ sued Money Mart alleging that it charged fees for its payday loans that were higher than permitted by law. To be more precise, the Plaintiffs’ claim in the class action is that certain loan fees collected by Money Mart contravene s. 347(1) of the Criminal Code, RSC 1985, c. C-46, which prohibits the receipt of interest at a “criminal rate”, defined as an effective annual rate that exceeds 60% of the amount advanced. The Plaintiffs allege that, when borrowers obtained a payday loan from Money Mart, Money Mart set the due date of the loan as the day before the borrower’s next payday, and required the borrower to provide a postdated cheque for the amount of the loan. If the borrower managed to repay the loan in cash on the due date, Money Mart only charged interest of 59%, just below the legal maximum. However, if the borrower could not repay the loan in cash, Money Mart collected repayment of the loan by cashing the borrower’s postdated cheque, and imposed a “cheque cashing fee” in addition to the 59% interest. The core of the Plaintiffs’ claim is that the “cheque cashing fee” imposed by Money Mart is “interest”, as that term is broadly defined in the Criminal Code and, as a result, the total interest collected by Money Mart, when the payday loans were repaid by cashing the postdated cheque, exceeded the “criminal rate” and contravened s. 347(1) of the Criminal Code.

How do I know if I am part of the Settlement?

If you think you might be included in the class, then we strongly recommend you file a claim form. Once all the claims forms are filed, Money Mart and Class Counsel will review Money Mart's records to determine if you paid eligible fees and, if so, the total amount of your entitlement under the settlement. If you file a claim, you will receive a letter setting out your entitlement. We estimate that these letters will be mailed on July 23, 2018. However, if a dispute arises between Money Mart and Class Counsel as to the amounts persons should receive, the letter could be delayed. Please be patient, our staff cannot provide you with any information as to your specific eligibility or entitlement amount.

Why am I getting a voucher?

These Vouchers effectively function like a post-dated cheque, but with the right to use the value of the cheque for services until it may be cashed. The cash payments to Class members were deferred to enable a higher Settlement Amount than would have been available had the cash payment to Class members under the settlement been immediate.

How much am I going to get?

Once all the claims forms are filed, Money Mart and Class Counsel will review Money Mart's records to determine if you paid eligible fees and, if so, the total amount of your entitlement under the settlement. If you file a claim, you will receive a letter setting out your entitlement. We estimate that these letters will be mailed on July 23, 2018. However, if a dispute arises between Money Mart and Class Counsel as to the amounts persons should receive, the letter could be delayed. Please be patient, our staff cannot provide you with any information as to your specific eligibility or entitlement amount.

I made an error on my claim form, what should I do?

Resubmit a new claim, we will use which ever was submitted last.

I do not have any of my loan documents or cannot remember if I borrowed in the class period?

No problem, we will be using Money Mart's electronic records to determine class member's entitlements. You do not need to have any loan documents.

Is this a scam?

No. You will find a link to this website on Money Mart's website.

What outstanding debts are included?

Old Debts means, in respect of each Class Member, any amounts the Class Member owes in relation to his/her Default Transactions 10incurred before 1 May 2011 in Manitoba and before 1 December 2012 in Alberta; New Debt means, in respect of each Class Member, any amounts the Class Member owes in relation to his/her Default Transactions incurred between 1 May 2011 and 31 December 2015 in Manitoba, and between 1 December 2012 and 31 December 2015 in Alberta.

I do not want to be called again.

According the Court Orders approving the settlement each class member will receive 3 robo-calls at the phone numbers contained in Money Mart's records. If you do not want to receive any further calls, please either complete the Claims Form or the Do-Not-Call Form, which can be found on the homepage of this site.

I am on the National Do Not Call List (DNCL), why are you calling me?

The National Do Not Call List (DNCL) only applies to calls made to consumers for the purpose of solicitation (the act of selling or promoting a product or service or requesting money or equivalent directly or indirectly, for oneself or for another party). The robo-call you received was made pursuant to a Court Ordered notice program for the purpose of informing you of your legal rights.

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