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New Mexico residents who took out one or more loans through FastBucks Holding Corp. between 2007 and 2016 may be eligible to claim a cash payment from a settlement.
FastBucks agreed to pay $964,000 to settle a lawsuit alleging its lending practices unlawfully harmed consumer borrowers in New Mexico. The lawsuit claimed FastBucks' business practices circumvented regulation of payday loans by increasing its use of installment loans and not allowing borrowers to pay off their loans when they were able to.
Who can file a claim?
Class members are individuals in New Mexico who obtained one or more loans from FastBucks between 2007 and 2016 and whom consumer loan data FastBucks provided to the State of New Mexico identifies as being adversely affected by the business practices at issue in the lawsuit.
How much is the FastBucks settlement payout?
Eligible class members will receive a pro rata payment from the remaining settlement fund after deductions for expenses. The final payment amount depends on the number of valid claims. The distribution calculations may also factor in the amount each borrower overpaid or was harmed based on loan-level data so some claimants may receive more or less than others depending on their individual circumstances.
How to claim a settlement payment
To receive a restitution payment, eligible class members can submit the online claim form or print and complete the PDF claim form and mail it to the settlement administrator.
Settlement administrator's mailing address: FastBucks NM Restitution Administrator, P.O. Box 709, Baton Rouge, LA 70821
The claim deadline is Nov. 24, 2026.
Required proof/documentation
- Individuals who received a class notice that included a claim ID number do not need to provide additional documentation, but they must provide their claim ID number when submitting a claim.
- Individuals who did not receive a class notice with a claim ID number but believe they qualify must provide information such as:
- Loan ID number(s) if available
- Approximate dates of their FastBucks loan(s)
- Approximate number of loans obtained
- Any former names or addresses associated with the loans
- Individuals filing for a deceased borrower or as an authorized representative must provide documents confirming their authority, such as estate or power-of-attorney documents.
Payout options
- Zelle
- PayPal
- Venmo
- Paper check mailed to the address provided
Settlement fund breakdown
The $964,000 settlement fund includes:
- Settlement administration costs: Amount not specified
- Other costs: May include banking or tax requirements, stale-payment handling and administrative adjustments
- Payments to eligible class members: Remaining settlement funds
Important dates
- Deadline to file a claim: Nov. 24, 2026
When is the FastBucks settlement payout date?
The settlement administrator will distribute payments to approved class members after reviewing all claims and completing required processing. Payments are expected to begin in April 2027.
Why did this settlement happen?
The restitution program is the result of a lawsuit filed by the State of New Mexico against FastBucks alleging the company's business practices adversely affected consumer borrowers.
FastBucks denied all allegations but agreed to settle to avoid the costs and uncertainties of continued litigation.
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