This Class Action Settlement Affects:
Any Navy Federal Credit Union member who received and disputed potentially fraudulent personal loans between January 1, 2023 and January 31, 2025.
The settlement is limited to members who meet specific criteria related to the loan application, fraud dispute and recover of loan funds.
What’s This Class Action Settlement About?
The lawsuit claims that third parties opened unauthorized personal loan accounts in members’ names. Navy Federal Credit Union failed to cancel these loans after individuals impersonating Navy Federal Credit Union personnel convinced members to transfer loan funds to unknown third parties.
Who Qualifies for the Settlement?
The settlement covers Navy Federal Credit Union members who, between January 1, 2023 and January 31, 2025, received a personal loan where the application was submitted from a device unfamiliar to the members account and Navy Federal Credit Union had not recovered the loan funds in full.
How Much Money Can You Get?
Eligible class members will automatically receive several forms of relief, including cancelation of the personal loan, a request to delete related credit reporting and reimbursement of payments made toward the loan.
Class member who submit a claim form can also receive an additional $250 payment.
Is Proof Required?
Proof is not necessarily required. However to receive the additional $250 payment, eligible class members must complete and submit a claim form.
You may be able to submit a claim without having received a notice, provided you meet the settlement’s eligibility requirements.
Important Class Action Settlement Dates
- Claim Deadline: November 29, 2026
- Exclusion Deadline: November 9, 2026
- Final Approval Hearing: December 9, 2026 at 12:00 p.m.
SUBMIT A CLAIM HERE
This post is for informational purposes only and is not legal advice.
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