Rapid Investments, Axiom Bank $4.2M Release Card Settlement

Rapid Investments, Axiom Bank $4.2M Release Card Settlement

Update: The claim deadline has been extended to Jan. 31, 2027. The settlement was granted final approval on Oct. 19, 2026.

Individuals who received a prepaid debit card, often referred to as a release card, when a jail, correctional facility, detention center or other law enforcement facility released them between Jan. 16, 2024, and June 30, 2026, may be eligible to claim at least $15, plus additional compensation, from a class action settlement .

Rapid Financial Solutions and Release Pay and Axiom Bank NA agreed to pay $4.2 million to settle a class action lawsuit. The lawsuit alleges these companies issued release cards with fees to individuals upon release from custody instead of returning funds by cash or check, violating federal and Washington state law.

Who can file a claim?

Individuals are considered class members if:

• Law enforcement took them into custody at a jail, correctional facility, detention center or any other law enforcement facility in the United States.
• They were entitled to the return of money that was either confiscated from them or left in their inmate accounts at the time of release.
• Rapid Financial Solutions and/or Axiom Bank issued them a prepaid debit card between Jan. 16, 2024, and June 30, 2026.

There are two groups within the class:

• Nationwide class : All eligible individuals across the United States who meet the above criteria
• Washington subclass : All eligible individuals eleased from a facility located in Washington state who meet the same criteria

How much can class members get?

Each class member who submits a valid claim is entitled to a minimum payment of $15 plus three times the total fees incurred on their release card.

How to claim a class action

To receive compensation, class members can file a claim online . Class members may also file a claim by emailing or calling the settlement administrator and providing their name, address and the state and facility where they received the card.

Settlement administrator's mailing address: Hall Release Card Settlement, c/o Kroll Settlement Administration LLC, P.O. Box 225391, New York, NY 10150-5391

Settlement administrator's email address: releasecard@sylaw.com

Settlement administrator's phone number: 833-930-0165

The claim deadline is Jan. 31, 2027.

Required documentation

Claimants filing online must provide the claim number they received in their settlement notice.

Payout options

The settlement does not specify payment options.

$4.2 million settlement fund breakdown

The $4,200,00 settlement fund will cover:

• Settlement administration costs : Amount not specified
• Attorneys' fees : Up to $1,260,000
• Attorneys' expenses : Amount not specified
• Service award to class representative : $15,000
• Payments to eligible class members : The remainder of the fund

The settlement administrator will distribute any leftover funds after it pays all claims to the Human Rights Defense Center and Public Justice.

Important dates

• Deadline to opt out : Oct. 2, 2026
• Fairness hearing : Oct. 19, 2026
• Deadline to file a claim : Jan. 31, 2026

When is the Hall release card settlement payout date?

The settlement administrator will issue payments after the court grants final approval of the settlement and claim processing is complete.

Why is there a class action settlement?

The class action lawsuit claimed individuals released from custody received prepaid debit cards with fees instead of getting their money by cash or check. The lawsuit alleged this practice violated the federal Electronic Fund Transfer Act and Washington state law, including the Washington Consumer Protection Act.

The defendants deny any wrongdoing but agreed to settle to avoid the cost and uncertainty of further litigation.

• Preliminary approval order

Settlement Open for Claims

$15 plus three times the fees incurred on release card(s)