1. Am I eligible for reimbursement?
You may be eligible if you purchased a car financed through us between January 1, 2016, and October 31, 2017, and you are Asian or Pacific Islander, African American, or Hispanic.
2. How will I know if I am eligible?
Working with the NYSDFS, we are reviewing our records to identify customers who may be eligible. We will contact those customers in writing.
3. When will I know if I am eligible?
Customers eligible to receive reimbursement will receive a check for reimbursement within four months after our list of eligible customers has been approved by the NYSDFS. We will update these FAQs with a more specific timeline once that approval is received.
4. How much money would I be eligible to receive?
We are required to calculate reimbursement on an individual basis and to distribute the reimbursement based on formulas approved by the NYSDFS.
5. What if you do not determine I am eligible, or determine that I am ineligible, and I disagree?
You should make a request to us for reimbursement, either by calling (518) 584-5844, or by emailing us by clicking here. If we cannot or do not determine you are eligible for reimbursement, we will refer your request to the NYSDFS and forward documents relating to your claim and any additional information you submit to them for review and a decision.
6. How long do I have to submit a claim for reimbursement?
A borrower must submit a reimbursement claim within one year of the date when this notice was posted on our website (August 6, 2022).
7. My address has changed since I purchased the car. How will you find me?
We will seek to contact you at your last known address. If your address has changed since you purchased the car and you did not already let us know, please provide us with a current address by calling (518) 584-5844 or contacting us here. If our first letter to your address is undeliverable, we will make further attempts to determine your current address.
8. Does this mean I can stop or reduce payments on my car loan?
No. Assuming you have not already paid off the loan, you should continue to make scheduled payments. However, you may be eligible for lower payments going forward, and we will advise you of any new payment amount together with the reimbursement check.
9. I’ve paid off my car loan. Am I still eligible for reimbursement?
10. Where can I find further information?
Please contact the New York State Department of Financial Services at https://www.dfs.ny.gov or Adirondack Trust at (518) 584-5844.
The consent order between Adirondack Trust and the NYSDFS is posted here.