U.S. Bank Direct Loans Settlement

November 16, 2012

August 13, 2012

WRRSV is pleased to announce that the Court has preliminarily approved a $92,000,000 class action settlement in Thomas v. U.S. Bank National Association, Case No. 1216-CV20561. U.S. Bank National Association and U.S. Bank National Association ND (collectively “U.S. Bank”) have agreed to pay $92,000,000 to settle the claims of over 2,400 class members who obtained approximately 1,500 second mortgage loans that were purchased by, assigned to, or serviced by U.S. Bank.  Class Members who do not exclude themselves from the settlement will receive a substantial payment ranging from an estimated $250 to $142,257 ($33,499 on average).

The claims asserted against U.S. Bank in the Thomas case were originally asserted in five separate class action lawsuits, and this settlement will resolve the “Released Claims” against U.S. Bank in each of those cases. Because the Missouri law claims filed against the other defendants in those five class action lawsuits have yet to be resolved, those five lawsuits will remain pending. For more information about those underlying lawsuits, you can click on the case names below:



Class Members can see what we currently estimate the amount of their settlement payment to be by accessing the Proposed Distribution Schedule. To access the Proposed Distribution Schedule for your settlement benefit, click here.


November 16, 2012 –  The Circuit Court of Jackson County has entered its order giving final approval to the Settlement Agreement reached with U.S. Bank in DeAnthony Thomas and Susan Jelinek-Thomas, et al. v. U.S. Bank National Association ND and U.S. Bank National Association. The order will become final on December 26, and we anticipate sending distribution checks to Settlement Class Members beginning sometime in late January or early February, 2013.

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