Once the Settlement becomes effective, the following release will be deemed to apply to and bind all Settlement Class Members (who did not request exclusion in accordance with the requirements of the Settlement):
Upon the date that the Judgment becomes Final, each and all Settlement Class Members, for themselves and their respective heirs, executors, administrators, representatives, agents, attorneys, partners, successors, predecessors in interest, assigns and any authorized users of their accounts will be deemed to have fully released and forever discharged FIA (including, without limitation, Bank of America, N.A. (USA) and MBNA America Bank, N.A.) and each and all of its present, former and future direct and indirect parent companies, affiliates, subsidiaries, agents, successors, predecessors in interest, and/or any financial institutions, corporations, trusts, or other entities that may hold or have held any interest in any account or any receivables relating to any account, or any receivables or group of receivables, or any interest in the operation or ownership of FIA, and all of the aforementioneds’ respective officers, directors, employees, attorneys, shareholders, agents, vendors (including, without limitation, processing facilities), attorneys, insurers and assigns, from any and all rights, duties, debts, obligations, claims, actions, causes of action, remedies or liabilities, whether arising under local, state or federal law (including without limitation under any state consumer-protection and/or unfair and deceptive practices acts, the Truth in Lending Act, 15 U.S.C. § 1601 et seq., and Regulation Z, 12 C.F.R. pt. 226), whether by Constitution, statute, contract, common law or equity, whether known or unknown, suspected or unsuspected, asserted or unasserted, foreseen or unforeseen, actual or contingent, liquidated or unliquidated, that they have or may have, as of the date of entry of the Final Judgment in this Action: (1) that arise out of or relate in any way to any or all of the acts, omissions, facts, business practices, matters, transactions or occurrences that were or could have been directly or indirectly alleged, asserted, described, set forth or referred to in this Action (or in the above-referenced appeal of Mary Jane Augustine), and are related to the allegations therein; or (2) that arise out of or relate in any way to the calculation, assessment, amount, notice or disclosure of increased interest rates or finance charges imposed following a default or delinquency (including, without limitation, the effective date of such increased interest rates or finance charges) on or in connection with any FIA credit card account; or (3) that arise out of or relate in any way to the administration of the settlement.
Without in any way limiting the foregoing, the Released Claims specifically extend to and include claims that Plaintiffs and the Settlement Class Members do not know or suspect to exist in their favor at the time the Judgment becomes Final. This paragraph constitutes a release and waiver of, without limitation as to any other applicable law, section 1542 of the California Civil Code and any and all similar laws of other states. Section 1542 of the California Civil Code provides:
A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.
Plaintiffs understand and acknowledge, and each member of the Settlement Class shall be deemed to understand and acknowledge, the significance of these releases and of this waiver of California Civil Code section 1542 and of any and all similar laws of other states relating to limitations on releases, including, without limitation, limitations on releases of unknown or unliquidated claims. In connection with such releases, waiver and relinquishment, Plaintiffs acknowledge, and all members of the Settlement Class shall be deemed to acknowledge, that they are aware that they may hereafter discover facts in addition to, or different from, those facts which they now know or believe to be true with respect to the subject matter of the Settlement and releases, but that it is their intention to release fully, finally and forever all Released Claims, and in furtherance of such intention, the releases of the Released Claims will be and will remain in effect notwithstanding the discovery or existence of any such additional or different facts.