Bulls v. USAA

1. What is this litigation about?

   Plaintiffs allege, among other things, that between March 31, 2013, and March 13, 2019, USAA Bank failed to properly reduce the interest rate on accounts of servicemember customers as required by the SCRA and as represented by USAA Bank policy in violation of the SCRA, the MLA, the Truth in Lending Act, the Nevada Deceptive Trade Practices Act, and the Florida Uniformed Servicemembers Protection Act, and in breach of contract.

   USAA Bank denies each and all of the claims and allegations of wrongdoing made by the Plaintiffs and denies that it has violated any law, contract, or other duty.

   The filed Complaint in the lawsuit can be viewed here. The Complaint includes all allegations and claims asserted against USAA Bank.

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2. Why is this a class action?

   A class action lawsuit allows a large number of people with a common claim in a matter to sue collectively while only being represented by a few members of the group called “Class Representatives.” In this case, a group of servicemembers and veterans who are customers of USAA Bank have brought the suit on behalf of themselves and any other people with similar claims.

   The Court has appointed the following servicemembers to act as Class Representatives: Philip Bulls, Dean Brink, Carmin Nowlin, Nicholas Padao, and Raphael Riley.

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3. Why is there a settlement?

   The Court has not decided in favor of the Plaintiffs or USAA Bank. The Parties have agreed to a settlement.

   By agreeing to the Settlement, the Parties avoid the costs and uncertainty of a trial, and Class Members receive the benefits described in the notice. The proposed Settlement does not mean that any law was broken or that USAA Bank did anything wrong. USAA Bank denies all legal claims and allegations of wrongdoing in this case.

   Class Representatives and their lawyers think the proposed Settlement is best for everyone who may be affected by the alleged improper interest charges and other claims in the lawsuit.

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4. Who is included in the Settlement?

   The Settlement Agreement defines the Class as:

   “All USAA Bank customers who (1) received and deposited a remediation check as a result of the SCRA Remediation or the MLA Remediation, or (2) were identified to receive a remediation check based upon the SCRA Remediation, the MLA Remediation, the EVP Remediation, or the DP Remediation, but did not successfully cash or deposit such remediation payment.”

   Excluded from the Class are USAA Bank; USAA Bank’s officers and directors at all relevant times, as well as members of USAA Bank’s immediate families and legal representatives, heirs, successors, or assigns; and any entity in which USAA Bank has or had a controlling interest. Also excluded from the Class are federal, state, and local governments and all agencies and subdivisions thereunder, and any judge to whom this Action is or has been assigned and any member of his/her/their immediate family.

   “Class Member” means any person included in the Class who does not opt out of the Class in the manner described in the notice

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5. How do I determine whether I am part of the Settlement?

   If you are not sure whether you are in the Class or have any other questions about the Settlement, call the toll-free number, 1-888-378-7406. You may also send questions to the Administrator at info@USAABankClassAction.info. Please do not email, call, or send questions about the Settlement to USAA Bank or to the Court. USAA Bank will direct you to the Administrator for answers to any Settlement-related questions.

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6. What does the Settlement provide?

   The Settlement Amount of approximately $64 million will be used to pay Court-approved attorneys’ fees and costs, Service Awards to the Class Representatives, all Administrative Costs (including notice costs, escrow and settlement administration services, distribution costs, etc.), and taxes and tax expenses (if any).

   The remainder of the Settlement Amount (“Net Settlement Amount”) will be distributed through a three-step Distribution Plan.

   Step One will consist of the payment of Thirty-Three Million, Four Hundred and Two Thousand, Eight Hundred and Thirty-Three Dollars and Fifty-Nine Cents ($33,402,833.59) to Class Members who were previously sent a remediation payment pursuant to previous remediation payments for the SCRA, MLA, EVP, and DP Remediations, but who did not successfully deposit that payment (“Group 1”). Next, a minimum payment of Fifty Dollars ($50.00) per applicable account will be paid to each Class Member who was previously sent a remediation payment pursuant to the SCRA Remediation and/or MLA Remediation (“Group 2” and “Group 3”). The approximate amount of the remaining Net Settlement Amount will be paid to Class Members who were previously sent a remediation payment pursuant to the SCRA Remediation, allocated pro rata in proportion to such prior SCRA Remediation payment (“Group 2”).

   Step Two provides that any Group 1 payments from Step One that remain uncashed 180 Days after issuance (“the Waterfall Date”) shall be escheated by the Administrator.

   The remainder of uncashed settlement checks from Step One, Groups 2 and 3, and all interest proceeds earned on any Settlement Amounts held by the Administrator will be distributed as a second round of payments to Class Members who successfully received a Step One payment (cashed check or received a payment made by electronic means) in excess of $250, allocated pro rata based upon the amount of the previous successfully received payment.

   Step Three will consist of the payment of any unforeseen costs of settlement administration and payment of any untimely requests for reissuance of Step One or Step Two payments. If any Net Settlement Funds remain, they will be distributed to a not-for-profit organization(s) approved by the Court providing services to military servicemembers and veterans.

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7. How can I determine what my payment will be?

   If you are eligible to receive payment from the Settlement, the amount will be based upon the criteria described for each group defined in Section 6 above, but the average settlement payment is estimated to exceed $200.

   More detailed information regarding how the payments for each group will be determined can be found in the distribution section of the Settlement Agreement posted here.

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8. How can I determine when I will receive payment?

   The Parties are using a distribution process that maximizes the likelihood that Settlement payments are received and successfully deposited. Class Members who are entitled to payments will receive their payments by direct deposit, mailed check, or by other widely available electronic means if the Class Member so chooses. Most payments will be issued only after the Court grants Final Approval to the Settlement and after any appeals are resolved. If there are appeals, resolving them can take time. It is prudent to check the Settlement Website often for updates regarding the status of the Settlement and options for selecting how your funds will be delivered.

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9. What rights am I giving up by remaining a member of the Class and receiving payment?

   Unless a member of the Class submits a request to be excluded from the Settlement, he or she is bound by the terms of the Agreement and cannot be part of any other lawsuit brought against USAA Bank for the same issues, claims, and allegations in this case. The Settlement Agreement is available here and describes what rights you will give up if you remain a participant in the Settlement.

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10. What do I have to do to receive payment?

    If you have been identified as a Class Member entitled to payment, you do not have to take any action to receive the payment. Payments will be issued automatically as described in Section 8 above.

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11. Can I choose the method by which I will receive a payment?

    If you have a qualifying direct deposit account with USAA Bank, your Class Member Award will be paid by direct deposit. Otherwise, you will be mailed a check unless you click here to choose an electronic form of payment.

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12. Can I update my address so you send my check to the right place?

    If you require a replacement check, please send your request to info@USAABankClassAction.info. Please allow 6-8 weeks for the new check to arrive. However, if you wish to change your name, please submit name change documentation to info@USAABankClassAction.info or by mail:

    Bulls v USAA Savings Bank Administrator
    P.O. Box 2939
    Portland, OR 97208-2939

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13. What do I do if I do not want to participate in the Settlement?

    If you do not want to receive payment from the Settlement and instead want to retain your right to participate in other lawsuits against USAA Bank for the same legal issues in this case, then you must take the steps to request exclusion from the Settlement. This action is also referred to as “opting out” of the Class.

    To request exclusion from the Settlement, you must send a letter or other written document by mail to the Administrator. Your request must include the following information:

    1. Your name, address, telephone number, and Class Member identification number
    2. A statement that you wish to be excluded from the Settlement, including the case name and number
    3. Your signature

    You must mail your request, postmarked no later than November 21, 2024, to Bulls v USAA Settlement Administrator, P.O. Box 2939, Portland, OR 97208-2939. You cannot request exclusion by phone or email.

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14. If I do not request exclusion, can I sue USAA Bank for the same claims later?

    No, you cannot. Unless you request exclusion from the Settlement, you give up the right to sue USAA Bank for the issues, claims, and allegations this Settlement resolves. You must exclude yourself from the Class in order to maintain your own lawsuit.

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15. If I exclude myself, can I still receive a payment?

    No. You will not receive a payment if you request exclusion from the Settlement.

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16. Do I have a lawyer in this case?

    The Court has appointed the following law firms to represent you and all Class Members. Together the law firms are called “Class Counsel,” and they are:

    Class Counsel
    SMITH & LOWNEY PLLC 2317 E. John Street Seattle, Washington 98112	HAGENS BERMAN SOBOL SHAPIRO LLP 1301 Second Avenue, Suite 2000 Seattle, Washington 98101

    You will not be charged for contacting these lawyers. If you would prefer to be represented by your own lawyer, you may hire one at your own expense.

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17. How will the lawyers receive payment for their services?

    Class Counsel may submit an application or applications for distributions from the Settlement Amount for (a) an award of attorneys’ fees and reimbursement of expenses incurred in connection with prosecuting the Action (the “Fee and Expense Application”), and (b) Service Awards to the Class Representatives. The amounts awarded as attorneys’ fees and expenses and Service Awards will be decided by the Court.

    Class Counsel has agreed with USAA Bank that the Fee and Expense Application will not seek an amount in excess of twenty-seven and one-half percent (27.5%) of the Settlement Amount. When filed with the Court, the Fee and Expense Application will be posted to the Documents page of this Settlement Website.

    Class Counsel and Plaintiffs Philip Bulls, Dean Brink, Carmin Nowlin, Nicholas Padao, and Raphael Riley agree that they will apply to the Court for a Service Award of up to $20,000 each for their participation in the Action and their service to the Class as Class Representatives. USAA Bank has agreed not to oppose such applications.

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18. How do I inform the Court if I object to the Settlement?

    If you are a Class Member, you can object to any part of the Settlement, the Settlement as a whole, Class Counsel’s requests for fees and expenses, and/or the Service Awards to the Class Representatives. For an objection to be considered, the objection must set forth

    • the name of the Action (Bulls v. USAA Federal Savings Bank et al., Case No. 5:21-cv-00488-BO [E.D.N.C.]);
    • the objector’s full name, address, and phone number;
    • an explanation of the basis upon which the objector claims to be a Class Member;
    • all grounds for the objection, accompanied by any legal support for the objection;
    • the identity of all counsel who represent the objector in this matter, including any former or current counsel who may be entitled to compensation for any reason related to the objection;
    • whether the objector intends to appear at the Final Approval Hearing and, if so, the identity of all counsel representing the objector who will appear at the Final Approval Hearing. Any counsel who will appear at the Final Approval Hearing must contemporaneously enter a written Notice of Appearance of Counsel with the Clerk of the Court;
    • a list of all other class action settlements to which the objector or their counsel has filed an objection;
    • a list of any persons who will be called to testify at the Final Approval Hearing in support of the objection; and
    • the objector’s signature (an attorney’s signature is not sufficient).

    Class Members who wish to object to any aspect of the Settlement must file with the Court this written statement prior to the Opt-Out/Objection Deadline and include all evidence and legal support for the objection. You must mail your objection to each of the following addresses, and your objection must be postmarked by November 21, 2024.

    District Court	Class Counsel	Defense Counsel
    Clerk of the Court U.S. District Court for the Eastern District of North Carolina P.O. Box 25670 Raleigh, North Carolina 27611	Knoll Lowney SMITH & LOWNEY PLLC 2317 E. John Street Seattle, Washington 98112 Shayne Stevenson HAGENS BERMAN SOBOL SHAPIRO LLP 1301 Second Avenue, Suite 2000 Seattle, Washington 98101	Daniel T. Plunkett Megan S. Ben’Ary Andrew M. Albritton McGlinchey Stafford 601 Poydras Street, Suite 1200 New Orleans, Louisiana 70130

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19. What is the difference between objecting to the Settlement and requesting exclusion?

    Objecting is notifying the Court that you do not like something about the Settlement. You can only object to the Settlement if you are a Class Member. Requesting exclusion from the Settlement is notifying the Court that you do not want to remain a member of the Class. If you exclude yourself, you have no basis to object because the Settlement no longer affects you.

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20. When and where will the Court decide whether to grant Final Approval of the Settlement?

    The Court has scheduled a Final Approval Hearing before Judge Terrence W. Boyle at 2:00 p.m. on January 14, 2025, at the Eastern District of North Carolina United States Courthouse, located at 310 New Bern Avenue, Raleigh, North Carolina 27601. The hearing date and time is subject to change. Updates to the date and time will be posted on this Settlement Website.

    At the hearing, the Court will consider granting Final Approval to the Settlement based on whether it is fair, reasonable, and adequate. The Court may also consider requests by Class Counsel for attorneys’ fees and expenses related to the litigation and administration of the Settlement. If there are objections, the Court will consider them at the hearing as well.

    After the hearing, a decision will be made whether to grant Final Approval of the Settlement, but it is not known at this time how long it will take for the Court to decide. Class Members should visit this Settlement Website to stay updated about the current case status.

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21. Do I have to attend the hearing?

    Attending the hearing is not required, but you are welcome to attend at your own expense.

    If you filed an objection, you do not need to attend the hearing to discuss its validity. As long the objection was filed in accordance with the guidelines described within this Settlement Website and the Notice the Court will give it consideration.

    You may also pay your own lawyer to attend the hearing, but it is not required.

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22. How do I request to speak at the hearing?

    You have the option to request to speak at the Final Approval Hearing, but you must send a letter informing the Court of your intention to appear and speak. The letter for your Notice of Intention to Appear must include the following:

    • Your name, address, and telephone number
    • A statement identifying the letter as your “Notice of Intention to Appear” at the Final Approval Hearing for Bulls v. USAA Federal Savings Bank et al., Case No. 5:21-cv-00488-BO (E.D.N.C.)
    • The reasons you intend to appear along with any supporting documentation or evidence
    • Your signature

    You must send copies of your Notice of Intention to Appear, postmarked no later than November 18, 2024, to all the addresses listed in FAQ 18. Please note: you may not speak at the hearing if you file a valid request for exclusion from the Settlement.

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23. How and where can I get more detailed information?

    This website and the notice are a summary of the proposed Settlement. More detail regarding the terms of the Settlement can be found in the Settlement Agreement posted here. You may also contact the Administrator with questions toll-free at 1-888-378-7406 or by mail at Bulls v. USAA Settlement Administrator, P.O. Box 2939, Portland, OR 97208-2939.

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Payment Questions

24. Is my payment taxable? Will I receive form 1099-MISC?

    Please note that amounts paid to you (including interest) may be taxable. Please consult your tax adviser. You will be mailed appropriate tax forms in January of the year following your payment. Please notify us of any address changes so that any necessary tax forms can be mailed to your most current address.

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25. How can I have my check reissued?

    Please provide a signed, written request for a check reissue. If you are requesting a name change and are needing a reissue, please provide documentation showing the name change such as a driver’s license, marriage certificate, POA or divorce decree. Please include the reason for the reissue and evidence of entitlement to payment and send to:

    Bulls v USAA Savings Bank
    Settlement Administrator
    P.O. Box 2939
    Portland, OR 97208-2939 or
    Email: info@USAABankClassAction.info

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26. When will my check be reissued?

    If you submitted a check reissue request, please note that it may take several weeks to receive it. We thank you for your patience.

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EpiqPay Questions

27. I received an email from EpiqPay. What is the email about and is the email legitimate?

    If you received an email from noreply@epiqpay.com, it is because you were determined to be eligible for a payment in a class action settlement. By default, individuals eligible for payments will receive a prepayment notification email a few days before they receive an email containing a link to claim their payment. This is normal. If you claim a payment, you will also receive one or more follow up emails from our payment partner, Tremendous, confirming where your payment is at in the process. Upon making your selection the payment portal will inform you when you should expect to receive your payment confirmation email from Tremendous. You should rely on the follow up email you receive from Tremendous to inform you of the timing of your payment. If you do not immediately claim your payment, you may also receive one or more reminder emails.

    If you have any questions about the EpiqPay email you received, please provide us with your full name and current email address so we can look up your file. If a tracking number was listed at the bottom of your EpiqPay emails, please provide to us that as well.

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28. What is EpiqPay?

    EpiqPay is the official digital payment platform for Epiq Class Action and Claims Solutions. EpiqPay offers individuals who are eligible to receive payments in mass actions an easy, convenient, fast, and secure way to claim their payments. General information about EpiqPay is available at https://www.epiqglobal.com/en-us/technologies/epiq-pay, and case-specific information about the payment notification you may have recently received is available at usaabankclassaction.info.

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29. How do I claim my EpiqPay payment?

    Claiming your EpiqPay payment is simple and easy. All EpiqPay payment and reminder emails contain a ‘Claim Payment’ link. As long as you click the ‘Claim Payment’ link before the payment expiry date listed in your email, the link will take you to a payment dashboard where you can choose your preferred method of payment. Then click your preferred payment method. Depending on the method of payment you choose, you may be asked to confirm your selection or provide one or two pieces of information so your payment can be processed. After that, you will receive a small number of interim notifications from our payment partner rewards@tremendous.com letting you know your payment is ‘in process’, and eventually you will receive a link to your payment card, if you chose that as your option. Contact information for our payment partner is available on these notifications, in case you experience any issues using your card.

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30. When will I receive my digital payment? / Why have I not received my digital payment?

    Emails regarding digital payments for this matter commenced on May 6,2025, and digital payments will be available to claim through August 4, 2025. During that window, Epiq digital payment emails were or will be sent from noreply@Epiqpay.com, so please review your inbox for messages from that email address. Due to variability in individual recipient email account SPAM and junk security settings, users are encouraged to review their junk and SPAM folders in case the digital payment emails went to those locations.

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31. After choosing my preferred payment options, will I receive my payment instantly / immediately?

    No. Digital payments are processed quickly, but once a user selects their preferred payment option, it typically takes 2-5 business days for the value of the award to reach end user cards or accounts. Upon making your selection, you will start to receive a series of emails from EpiqPay and our digital payment partners, which will keep you apprised of the progress of your payment.

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32. I received an email from EpiqPay via Tremendous rewards@reward.tremendous.com. Is this email legitimate?

    If you received an email from rewards@reward.tremendous.com, this email is legitimate. You received this email as you selected a payment option that uses Tremendous, one of our third-party payment partners, to process your payment and notify you of your payment status. Please note that upon making your selection the payment portal should have informed you when you would receive your payment confirmation email from Tremendous. You should rely on the follow up email you received from Tremendous to most accurately inform you of the timing of your payment.

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33. If I have already opted to receive my payment digitally, can I convert my payment into a physical check?

    No. Once you have made your choice to redeem your payment digitally, Epiq can no longer convert your payment into a check. If you are having any issues receiving or using your chosen digital payment, please contact our payment partner at help@tremendous.com.

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Direct Deposit Postcard and Email

34. I received a postcard(or an email) saying that a settlement payment will be deposited into my account on or about April 29, 2025. What is this about?

    A class action was settled on behalf of all USAA Bank customers who (1) received and deposited a remediation check as a result of the Servicemember Civil Relief Act lookback review for the period of March 31, 2013, through March 13, 2019 (“SCRA Remediation”), or the Military Lending Act Remediation for the period of October 3, 2016, through October 1, 2018 (“MLA Remediation”), or (2) were identified to receive a remediation check based upon the SCRA Remediation, the MLA Remediation, the Extended Vehicle Protection Remediation for the period of July 12, 2010, through June 30, 2021 (“EVP Remediation”), or the Debt Protection Remediation for the period of May 4, 2009, through July 31, 2021 (“DP Remediation”), but did not successfully cash or deposit such remediation payment.

    The Parties have identified all Class Members. If you have been identified as a Class Member, you did not need to do anything to receive a payment. Your payment is being automatically sent to you.

    According to USAA records, you hold an active deposit account with USAA Federal Savings Bank. Therefore, your settlement payment(s) will be deposited into your account on or about April 29, 2025.

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35. I had an open account with USAA Bank, but it’s now closed.

    According to USAA records, you held an active deposit account with USAA Federal Savings Bank at the time these payments were being prepared. If the deposit into your account does not go through, a check will be sent to you.

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36. The email/postcard said that my payment(s) may be taxable. What does this mean?

    If your payment is taxable, you will receive a Form 1099-MISC in January of the year following your payment. Please notify us of any address changes so that any necessary tax forms can be mailed to your most current address.

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37. The email/postcard said that the direct deposit will be made on or about April 29, 2025. It is now after that date, and I did not get a deposit.

    According to USAA records, you held an active deposit account with USAA Federal Savings Bank at the time these payments were being prepared. If your deposit could not be made due to reasons such as your account now being closed, a check will be sent to you.

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