.png)
Maryland residents who obtained credit of $25,000 or less through Genesis Financial Solutions Inc. and whom Genesis owns the right to collect payments on their account may be eligible to claim an estimated $30 from a class action settlement.
Genesis Financial Solutions Inc., now rebranded as Concora Credit, agreed to pay $5,825,000 to resolve a lawsuit alleging its consumer lending and credit-related business practices in Maryland, specifically involving personal loans of less than $25,000, violated state lending laws.
Who can file a claim?
Individuals are considered class members if they meet all of the following criteria:
- They are a Maryland resident.
- They obtained credit in the amount of $25,000 or less.
- They made at least one purchase or took at least one cash advance on the account.
- They made at least one payment on the account.
- They submitted the credit application from Maryland.
- Genesis, through agreements with a third-party bank, owns the exclusive right to collect all payments of principal, interest and fees on their loan.
If an individual received a notice about this settlement by email or mail, Genesis’s records indicate they are included in the settlement class.
How much can class members get?
The settlement fund is $5,825,000. The settlement administrator will distribute this amount among all eligible class members who submit a valid claim after deductions for attorneys' fees and costs, settlement administration costs and service awards to class representatives. Genesis estimates there may be as many as 125,000 settlement class members.
The exact amount each person receives will depend on the total number of valid claims submitted. Genesis estimates the net payment to be approximately $30 if all eligible members file claims.
If there is money left after the first round of payments (for example, due to uncashed checks), and the remaining amount allows for a second distribution of at least $5 per person, the settlement administrator will issue a second payment to those who cashed or accepted the first payment.
The administrator will donate any remaining funds after all distributions equally to the CASH Campaign of Maryland, the Maryland Council on Economic Education and the University of Maryland Francis King Carey School of Law.
How to claim a class action payout
Class members can file a claim online or download, print, complete and mail the PDF claim form to the settlement administrator. The claim deadline is June 29, 2026.
Settlement administrator's mailing address: Maryland Genesis Settlement, c/o Strategic Claims Services, P.O. Box 230, 600 North Jackson St., Suite 205, Media, PA 19063
Required information
All class members must provide the class member verification code located on the settlement notice they received. Online claimants must also provide the PIN from the same notice.
Payout options
- Electronic payment (digital card sent to the class member's email address)
- Paper check (mailed to the class member's mailing address)
$5.825 million settlement fund breakdown
The $5,825,000 settlement fund covers:
- Settlement administration costs: Up to $100,000
- Attorneys' fees and costs: $1,700,000
- Service award to class representative: $25,000
- Payments to approved class members: $4,000,000
Important dates
- Deadline to file a claim: June 29, 2026
- Fairness hearing: Oct. 20, 2026
When is the Maryland Genesis settlement payout date?
The settlement administrator will issue payments within 45 days after the court resolves any appeals and grants final approval to the settlement.
Why is there a class action settlement?
The class action settlement alleged Genesis Financial Solutions Inc. made or serviced personal loans of less than $25,000 to Maryland consumers without the required licenses under Maryland law.
Genesis denies any wrongdoing but agreed to settle to avoid the costs, risks and delays of continued litigation.
.webp)
.webp)
.webp)
.webp)
.webp)
.webp)
.webp)
.svg)