If you purchased a taxi medallion with a loan from San Francisco Credit Union, you may be eligible to have your debt cancelled.
Submit Your Information NowDan Wheeler is the attorney who will represent taxi medallion purchasers in a class action seeking to cancel the debt they incurred to purchase their medallions. If you received a medallion loan from San Francisco Credit Union and you wish to join the plaintiff class, then please fill in your information below and sign the legal services agreement.
See how taxi medallion owners in San Francisco were impacted — and what's being done about it.
SFMTA raised over $63 million and saddled hardworking drivers with the debt. Hundreds of drivers affected.
One lawsuit to make it right.
Dan walks you through the case, your rights as a medallion holder, and how this lawsuit can help cancel your debt.
We will review your claim and reach out to discuss your options for recovering the debt incurred from your medallion purchase. All submissions are confidential.
Your information has been submitted and your Legal Services Agreement has been signed successfully. Please download a copy for your records.
Please read the entire agreement, then sign below.
LEGAL SERVICES AGREEMENT
Class Action Representation — Hybrid Contingent Fee
This Legal Services Agreement ("Agreement") is entered into between the undersigned client ("Client") and The Fintech Lawyer Inc., a California professional law corporation ("Attorney"), effective on the date Client electronically signs below (the "Effective Date").
1.1 Engagement. Client retains Attorney to investigate, prepare, file, and prosecute one or more putative class action lawsuits on Client's behalf, individually and as a proposed class representative, concerning the claims described in Exhibit A (the "Matter"). Attorney accepts the engagement subject to the terms below.
1.2 Authority to Act. Client authorizes Attorney to take all actions Attorney reasonably believes, in the exercise of professional judgment, to be in Client's best interest in connection with the Matter, including without limitation: selecting causes of action, theories, and defendants; choosing forum and venue; conducting discovery; retaining experts, co-counsel, and vendors; associating additional counsel (subject to Section 4.4); moving for class certification; opposing dispositive motions; preparing for and conducting trial; and pursuing or defending appeals. Attorney will keep Client reasonably informed of significant developments.
1.3 Class Action Acknowledgment. Client understands that, until a class is certified, Attorney represents only Client and not absent putative class members. If a class is certified, Attorney's duties will extend to the certified class, and the court will retain authority over attorneys' fees, costs, settlement, dismissal, and notice under Federal Rule of Civil Procedure 23 or California Code of Civil Procedure § 382 and California Rules of Court 3.760 et seq., as applicable.
1.4 Excluded Matters. This Agreement does not cover any matter outside the Matter, including tax advice, bankruptcy, criminal proceedings, post-judgment collection beyond ordinary judgment-enforcement efforts, or any separate or individual claim Client may have against any defendant not pleaded in the Matter.
2.1 Client's Reserved Authority. Under California Rule of Professional Conduct 1.2(a), the decision whether to settle is reserved to Client. Nothing in this Agreement may be construed to waive that right.
2.2 Settlement Recommendations. Client values Attorney's professional judgment regarding settlement and agrees to give substantial weight to Attorney's recommendations. When Attorney recommends that Client accept a settlement offer, Attorney will promptly communicate the offer in writing, together with Attorney's analysis of the material terms, expected net recovery to Client and the class, anticipated fees and costs, and the principal risks of continued litigation. Client agrees to respond to each such recommendation in writing within ten (10) business days, either accepting or rejecting the recommendation. Client's failure to respond within that period does not constitute acceptance.
2.3 Class Settlements. Any settlement of class claims after certification is subject to court approval and the procedural protections of Rule 23(e) or its California analog. Client, as class representative, owes fiduciary duties to the class and acknowledges that decisions regarding class settlement must be made in the best interest of the class.
2.4 Disagreement. If Client rejects a settlement Attorney has recommended in writing, Attorney may, after meaningful consultation with Client and reasonable notice, seek to withdraw as permitted by California Rule of Professional Conduct 1.16 and applicable court rules. Withdrawal does not, by itself, alter Attorney's right to compensation earned through the effective date of withdrawal, subject to Section 3.
3.1 Statutory Notice — Fees Not Set by Law; Negotiable. The fee arrangement in this Agreement is not set by law and was negotiated between Attorney and Client. (Cal. Bus. & Prof. Code §§ 6147, 6148.)
3.2 Two Fee Components. Attorney's compensation in the Matter consists of two separate components, calculated and paid as follows. Attorney's fee in the Matter will be the sum of Section 3.3 (the Contingent Percentage Fee) plus Section 3.4 (the Lodestar Fee Award Component), without duplication as provided in Section 3.5.
3.3 Contingent Percentage Fee — 25% of Class Cash Recoveries. Attorney will receive twenty-five percent (25%) of all Class Cash Recoveries obtained in the Matter. "Class Cash Recoveries" means the gross cash amount actually received from any defendant or third party in connection with the Matter as compensation, restitution, damages, or other relief for Client or the class, including without limitation settlement payments and judgments collected (and the cash component of any common-fund settlement allocated to class relief). Class Cash Recoveries do not include any portion of a recovery separately characterized as a court-awarded or statutory attorneys' fee (which is governed by Section 3.4). Non-cash relief (such as injunctive, declaratory, or coupon relief) is excluded from Class Cash Recoveries except to the extent the court assigns it a monetized cash value that is actually received. Specifically included in any Class Cash Recoveries is any reduction in debt or liabilities owed by Class members achieved via settlement, court order or otherwise resulting from class action litigation filed in the Matter.
3.4 Lodestar Fee for Attorneys' Fee Awards — $950 per Hour. To the extent the Matter results in a separately awarded or recovered Attorneys' Fee Award (as defined below), Attorney's compensation attributable to that award will be Attorney's lodestar in the Matter, calculated at the rate of $950 per hour for all attorney time reasonably expended in the Matter, billed in tenth-of-an-hour increments. Attorney should maintain contemporaneous time records and will provide Client with periodic statements describing the services rendered, the timekeeper, the time expended, and the resulting accrued lodestar. The hourly rate will remain fixed for the duration of this Agreement unless modified by a written amendment signed by both parties. "Attorneys' Fee Award" means any amount actually received in connection with the Matter that is separately characterized as attorneys' fees, whether awarded by a court under a fee-shifting statute, contract, common-fund or percentage-of-fund doctrine, lodestar analysis, or otherwise, or paid by a defendant pursuant to a settlement specifically allocating an amount to attorneys' fees.
3.5 Cap on Lodestar Component; No Double Recovery. The Lodestar Fee under Section 3.4 will not exceed the amount of the Attorneys' Fee Award actually received. If Attorney's accrued lodestar exceeds the Attorneys' Fee Award, the excess is waived and will not be paid from Class Cash Recoveries or from Client. If Attorney's accrued lodestar is less than the Attorneys' Fee Award, the difference will be added to Class Cash Recoveries for purposes of Section 3.3 (and the 25% Contingent Percentage Fee will apply to that difference). Where a settlement or judgment provides a single undifferentiated cash amount without separately characterizing any portion as attorneys' fees, the entire amount will be treated as Class Cash Recoveries under Section 3.3, and Section 3.4 will not apply.
3.6 Payment Source — Contingent on Recovery. Attorney's compensation under Sections 3.3 and 3.4 will be paid solely out of amounts actually received in the Matter. Under no circumstances will Client have any personal obligation to pay Attorney's fees from Client's own funds. If there is no Class Cash Recovery and no Attorneys' Fee Award, Attorney will receive no fee.
3.7 Court Approval in Class Actions. Where the court must approve fees in a class settlement, Attorney's compensation is subject to such approval and may be reduced (but not increased) accordingly. Attorney will apply to the court for fees consistent with this Agreement.
3.8 Order of Distribution. Upon receipt of any cash in the Matter, funds will be deposited into Attorney's client trust account and distributed in the following order: (i) reimbursement of unreimbursed costs and expenses advanced (see Section 4); (ii) payment of the Lodestar Fee under Section 3.4, up to the amount of any Attorneys' Fee Award; (iii) payment of the Contingent Percentage Fee under Section 3.3; (iv) any required payments to lienholders, taxing authorities, or claims administrators; and (v) the net balance to Client (or, in a certified class action, to the class as the court directs).
3.9 No Guarantee of Outcome. Attorney has made no promise or guarantee regarding the outcome of the Matter, the likelihood of class certification, the recoverable amount, or the likelihood of any recovery. Estimates of fees, costs, or recovery are predictions only.
3.10 Warning and Disclaimers. Attorney has disclosed that he is not an experienced litigator and that the odds of winning any class action lawsuit are low. Please see the additional warnings and disclosures on Exhibit B.
4.1 Advance of Costs. Attorney may, in Attorney's discretion, advance reasonable costs and expenses necessary to the Matter, including filing fees, service of process, deposition and transcript costs, expert witness fees, electronic discovery, mediator/arbitrator fees, printing, mailing, travel, class notice, and claims administration. Attorney is not obligated to advance any particular cost.
4.2 Repayment. Costs and expenses advanced by Attorney will be reimbursed solely from amounts actually received in the Matter, before calculation of Attorney's fees under Section 3. If there is no recovery, Client has no obligation to reimburse advanced costs.
4.3 Third-Party Litigation Funding. Any third-party funding of the Matter requires Client's informed written consent and will not impair Attorney's independent professional judgment under California Rule of Professional Conduct 5.4.
4.4 Co-Counsel and Referral. Attorney may, with Client's prior written consent (which consent may be given electronically), associate co-counsel or refer portions of the Matter. Any division of fees with counsel not in Attorney's firm will comply with California Rule of Professional Conduct 1.5.1 and will not increase the total fees payable from any recovery beyond the amounts provided in Section 3. Upon receiving Client's consent to associate co-counsel (which consent may be delivered by email), co-counsel will become a party to this Agreement.
Client agrees to: (a) provide truthful and complete information; (b) preserve all documents and electronically stored information relevant to the Matter and comply with any litigation hold; (c) be reasonably available for meetings, discovery, depositions, mediation, and trial; (d) keep Attorney informed of changes in Client's contact information; and (e) act in the best interests of the putative or certified class as appropriate.
6.1 Client's Right to Discharge. Client may discharge Attorney at any time, subject to court approval where required. (Cal. Rule Prof. Conduct 1.16.)
6.2 Attorney Withdrawal. Attorney may withdraw as permitted or required by Rule 1.16 and applicable court rules, including upon Client's rejection of a recommended settlement after meaningful consultation (Section 2.4), Client's material breach of this Agreement, or other good cause.
6.3 Effect on Fees. If Attorney is discharged or withdraws before final resolution of the Matter, Attorney will be entitled to compensation only out of amounts ultimately recovered in the Matter, calculated as the reasonable value of services rendered through the date of termination (with attorney time valued at $950/hour for purposes of any Attorneys' Fee Award component), subject to the limits in Section 3 and any court approval required in a class action. Client retains the file as required by California law.
7.1 Attorney has conducted a reasonable conflicts check and is not aware of any conflict that would prevent the representation. If a conflict arises during the engagement, Attorney will promptly disclose it in writing.
7.2 If, in a non-class context, Attorney represents multiple plaintiffs against a common defendant, Attorney will not enter into an aggregate settlement without each affected client's informed written consent in compliance with California Rule of Professional Conduct 1.8.7.
8.1 Client File. On termination, Attorney will return the Client file as required by California Rule of Professional Conduct 1.16(e). Attorney may retain a copy at Attorney's expense.
8.2 Mandatory Fee Arbitration Notice. In the event of a dispute regarding fees or costs, Client has the right to require arbitration of the dispute under California Business & Professions Code §§ 6200–6206 (Mandatory Fee Arbitration Act). The arbitration will be conducted by the State Bar of California or a local bar association program. This right is in addition to, and does not waive, any other rights Client may have.
8.3 Governing Law; Venue. This Agreement is governed by California law. Any dispute not subject to mandatory fee arbitration must be resolved exclusively in the state or federal courts located in San Francisco County, California.
8.4 Entire Agreement; Amendment. This Agreement, including its Exhibit, is the entire agreement between the parties regarding the Matter and supersedes any prior oral or written understandings. It may be amended only by a writing signed (including electronically) by both parties.
8.5 Severability. If any provision is held unenforceable, the remainder will remain in force. If any fee provision is held unenforceable, Attorney will be entitled to recover the reasonable value of services rendered, solely from amounts actually received in the Matter.
8.6 Notices. Notices may be given by email to the addresses on file with the e-signature platform, with confirmation of delivery.
9.1 Consent to Electronic Transaction. Client and Attorney consent to conduct this transaction by electronic means under the California Uniform Electronic Transactions Act, Cal. Civ. Code §§ 1633.1 et seq., and the federal E-SIGN Act, 15 U.S.C. §§ 7001 et seq. Client may withdraw consent to electronic delivery at any time by written notice to Attorney; withdrawal does not affect the validity of any electronic signatures previously given.
9.2 Execution. This Agreement may be executed electronically through the dedicated engagement website maintained by Attorney. Client's click-through assent, typed name, or other electronic mark, captured together with Client's IP address, timestamp, and authentication data, constitutes Client's signature. An electronic copy of the executed Agreement will be delivered to Client at the email address Client provides and will be retained by Attorney as required by law. Client is entitled to a fully executed paper copy upon request.
9.3 Counterparts. This Agreement may be executed in counterparts, each of which is an original and all of which together constitute one instrument.
By signing above, Client acknowledges that Client: (a) has read this Agreement in full and had an opportunity to ask questions and to consult independent counsel; (b) understands that Attorney's fee consists of (i) 25% of Class Cash Recoveries plus (ii) a separate Lodestar Fee at $950/hour capped at the amount of any Attorneys' Fee Award actually received, all payable solely from amounts actually recovered; (c) understands that the fee is not set by law and is negotiable; (d) understands the rights reserved to Client regarding settlement decisions; (e) understands the duties owed to the class if a class is certified; and (f) intends to be legally bound by this Agreement.
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Proposed Class Claims: Some or all of the following claims, among others, are being considered for inclusion in a class action complaint to be filed against San Francisco Federal Credit Union:
(1) Declaratory Relief (CCP § 1060); (2) Rescission (Civ. Code §§ 1689); (3) Restitution / Money Had and Received; (4) Violation of the Unfair Competition Law (Bus. & Prof. Code § 17200); (5) Violation of the Cartwright Act (Bus. & Prof. Code §§ 16720, 16726); (6) Violation of the California Consumer Financial Protection Law (Fin. Code § 90000 et seq.); (7) Unconscionability (Civ. Code § 1670.5); (8) Rescission under the Truth in Lending Act (15 U.S.C. § 1635); (9) Fraudulent Inducement; (10) Negligent Misrepresentation; and (11) Breach of the Implied Covenant of Good Faith and Fair Dealing.
Proposed Class Definition: The proposed plaintiff class is comprised of those San Francisco taxi medallion purchasers who financed their purchase with a loan from or through San Francisco Federal Credit Union.
Anticipated Forum: California Superior Court, San Francisco or United States District Court, San Francisco.
Adverse-Consequences Disclosure
Matter: Proposed class action against San Francisco Federal Credit Union (the "Credit Union")
From: The Fintech Lawyer Inc. (the "Firm")
To: each Client ("you")
1. Why you are receiving this notice. You have agreed, or are considering agreeing, to serve as a named plaintiff and class representative in a lawsuit against the Credit Union. A named plaintiff carries financial risks that absent members of the class do not. This notice explains those risks in plain terms so that your decision is fully informed. It is separate from, and in addition to, the engagement agreement. Please read it carefully, ask us any questions you have, and — if you have any doubt — consult an independent attorney before signing.
We believe the claims in this case are meritorious. We would not bring them otherwise. This notice is not a prediction that the case will fail. It is a disclosure of what can happen to you financially if it does, so that you are not surprised later.
2. The general rule, and why it does not fully protect you. In the United States, each side in a lawsuit ordinarily pays its own attorneys' fees, win or lose. California codifies this default in Code of Civil Procedure § 1021. If that rule applied without exception, an unsuccessful outcome would mean only that you recover nothing — not that you owe the Credit Union anything for its lawyers. That default might not fully apply here, because of how a judge or a jury might interpret the loan documents you signed.
3. Your loan documents contain a prevailing-party attorneys'-fee provision. The loan documents you signed could be interpreted as having included a clause providing that the prevailing party in litigation concerning the loan is entitled to recover its attorneys' fees from the other side. Under California Civil Code § 1717, a clause of this kind is made mutual by law: it operates in favor of whichever side prevails on the contract, regardless of how the clause is worded. This is the single most important risk addressed in this notice.
4. What this means if the Credit Union wins. Several of the claims in this lawsuit could be interpreted as claims "on the contract" within the meaning of § 1717 — including the request to rescind the loans, the request for a declaration that the loans are invalid and unenforceable, and the claim for breach of the implied covenant of good faith and fair dealing. If the Credit Union prevails in defending the validity of the loans, it may ask the court to order the named plaintiffs to pay the Credit Union's reasonable attorneys' fees, in addition to its costs. Depending on the precise wording of the fee clause, that exposure may also reach related claims.
This exposure is potentially large. The defense of complex class litigation by an institutional lender can generate attorneys' fees of hundreds of thousands of dollars or even millions of dollars over the life of the case. An adverse fee award could conceivably be added to the outstanding amount of your original loan, and it would be a personal obligation of the named plaintiffs.
5. The benefit of the clause to you is limited. Although the fee clause is mutual, the practical benefit to you is one-sided. If you prevail by having the loans declared void or rescinded, California law may prevent you from recovering your own attorneys' fees under that same clause, because a party generally cannot claim fees under a contract it has succeeded in having declared unenforceable. In that event, your attorneys' fees would have to be recovered through the statutory fee provisions and any class recovery — not through the loan's fee clause. The clause therefore creates substantial downside risk for you with only limited corresponding upside. You should not assume the clause protects you simply because it is reciprocal.
6. Court costs (separate from attorneys' fees). Apart from attorneys' fees, the party that loses a lawsuit ordinarily must pay the prevailing party's "costs" — items such as filing fees, jury fees, and deposition and transcript expenses (Code of Civil Procedure §§ 1032, 1033.5). Costs are usually far smaller than attorneys' fees, but in a document-intensive case they can still be significant. This obligation also falls on the named plaintiffs.
7. Settlement offers and expert-fee exposure (§ 998). California law allows the Credit Union to serve a formal statutory settlement offer (Code of Civil Procedure § 998). If a named plaintiff rejects such an offer and then does not obtain a more favorable result, the plaintiff can be ordered to pay the Credit Union's costs incurred after the offer was made, and — at the court's discretion — the Credit Union's expert witness fees, which can themselves be substantial. We will advise you before you respond to any such offer, but you should understand that this mechanism exists and can shift costs onto you.
8. Sanctions (low probability, disclosed for completeness). In limited circumstances a court can impose monetary sanctions on a party or its attorneys for asserting or maintaining a claim that is found to be frivolous or brought in bad faith (Code of Civil Procedure §§ 128.5, 128.7). We do not regard this case as frivolous, and we do not expect sanctions to be sought against you or imposed. We disclose this category only so that your understanding of the possible adverse consequences is complete.
9. Who bears these risks. The financial exposures described above fall on the named plaintiffs who sign the complaint and serve as class representatives. They do not fall on the absent members of the class. By agreeing to serve as a class representative, you accept this elevated personal risk on behalf of the larger group.
10. The Firm's role in these costs and awards.
Litigation costs. The Firm will advance the ordinary costs of the litigation. Advanced costs will be repaid only out of any recovery and will not be owed by you personally if the case is unsuccessful. California permits a firm to advance litigation costs and to make repayment contingent on the outcome (Rule of Professional Conduct 1.8.5).
Adverse fee or cost award. If a court enters an award of attorneys' fees, costs, or expert fees against you in favor of the Credit Union, the Firm will not be responsible for that award, and you would be personally liable to the Credit Union.
Because the Firm is not assuming responsibility for an adverse award, the exposure described in this notice is yours personally.
11. No guarantee of outcome. We cannot guarantee that the case will succeed, that the Credit Union will not prevail on one or more claims, or that no adverse award will be entered against you. Our assessment that the claims are meritorious is a professional judgment, not a promise of result.
12. Your right to independent advice. You have the right to consult an independent attorney of your choosing, at your own expense, about this notice and the risks it describes, before deciding whether to serve as a class representative. We encourage you to do so if you have any reservation.
By signing below, Client acknowledges that they have read this Agreement and its Exhibits in their entirety, understand the terms and risks described herein, and agree to be bound by them.