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Maryland residents who, at any time from March 2014 to the present, had a credit card account issued by the Bank of Missouri or Celtic Bank and serviced by Continental Finance Co. LLC or Continental Purchasing LLC may be eligible to receive $30 to $50 from a class action settlement.
Continental Finance Co. LLC agreed to pay $5.75 million to settle a class action lawsuit alleging it made or serviced personal loans less than $25,000 to Maryland consumers without the licenses required by Maryland law and in violation of the Maryland Consumer Loan Law and the Maryland Credit Services Businesses Act.
Who are the class members?
Class members must meet all of the following criteria:
- They are a Maryland resident.
- They had a credit card account issued by the Bank of Missouri or Celtic Bank.
- Continental Finance Co. LLC or Continental Purchasing LLC serviced their account.
- They opened their account on or after March 2014.
- They made at least one payment on the loan.
The settlement administrator used Continental’s records to identify class members and sent notices to those who qualify.
How much can class members get?
Pro rata payment: The settlement fund is $5,750,000. After deducting attorneys’ fees, administrative costs and incentive payments to the class representatives, the settlement administrator will distribute the net settlement fund equally among all eligible class members. The exact payment amount depends on the total number of valid class members, but current estimates indicate each person should expect to receive between $30 and $50.
No action needed to receive compensation
Class members do not need to file a claim or submit any paperwork to receive their payment. The settlement administrator will automatically mail a check to their last known address. They must cash the check within 180 days of issuance.
Those who moved or believe their address may be outdated should contact the settlement administrator to update their information and ensure they receive payment.
$5.75 million settlement fund breakdown
The $5,750,000 settlement fund includes:
- Settlement administration costs: To be determined
- Attorneys' fees and expenses: Up to $1,916,667
- Service awards to class representatives: Up to $25,000 each (up to $50,000 total)
- Payments to eligible class members: Remaining funds after above deductions
If any money remains in the fund after the settlement administrator pays all eligible class members, it will distribute the remaining funds to nonprofit organizations in Maryland, including the Maryland Volunteer Lawyers Service, the CASH Campaign of Maryland, the National Association for Consumer Advocates and the University of Maryland Francis King Carey School of Law.
Important dates
- Deadline for exclusion: Feb. 23, 2026
- Fairness hearing: March 30, 2026
When is the Continental Finance Co. LLC settlement payout date?
The settlement administrator will distribute payments to eligible class members approximately 30 days after the court resolve any appeals and grants final approval to the settlement.
Why did this class action settlement happen?
The class action lawsuit alleged Continental Finance Co. LLC and Continental Purchasing LLC made or serviced personal loans less than $25,000 to Maryland residents without the licenses required by Maryland law. The plaintiffs claimed this violated the Maryland Consumer Loan Law and the Maryland Credit Services Businesses Act.
Continental denied any wrongdoing but agreed to settle to avoid the cost and uncertainty of further litigation.
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