San Francisco, CA: A $142 million settlement has been reached in the Wells Fargo account fraud class action lawsuit over the alleged creation of false customer accounts, services, and applications for products and services made without customers’ knowledge or consent.
The lawsuit names Wells Fargo & Company and Wells Fargo Bank, N.A., as defendants in the banking fraud lawsuit.
Customers included in the settlement had certain Wells Fargo credit cards, lines of credit, checking, or savings accounts opened or applied for in their name without their permission, or had authorized identity theft protection services from Wells Fargo, from May 1, 2002, to April 20, 2017.
The benefits of the settlement include:
Fee Reimbursement: A payment to compensate individuals for fees they may have paid in connection with unauthorized accounts.
Credit Impact Damages: Cash to compensate individuals for damages caused by harm to their credit.
Additional Payment: Any money remaining in the fund, after paying the benefits above and all costs and expenses, will be paid out as additional compensation on a per-account basis.
Eligible customers can now submit a simple claim form online or by mail by February 3, 2018 to get a payment.
Eligible customers must object to or exclude themselves from the Settlement by February 19, 2018. Please note the Court recently extended these deadlines.
A final fairness hearing is scheduled for March, 2018, to consider whether to approve the Settlement. The hearing date may be subject to change.
The lawsuit is Jabbari v. Wells Fargo, No. 3:15-cv-02159, in the Northern District of California.
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my credit were ruined as a result of Wells Fargo, the Managing BANK assigned by my Mortgaging Company Fannie Mae. Wells Fargo, sent information to the three major Credit Bureaus alleging that I had several accounts with them when in fact I DIDN'T. BETWEEN 7-9 WELLS FARGO, NAMES APPEARED ON MY REPORTS AS CREDITORS AND INCREASED THE INQUIRIES UNDER THE WATCH OF THE CREDIT BUREAUS. THEY PENALIZED ME AND MY CREDIT WORTHINESS, CREDIBILITY, AND MY SCOREE WAS REDUCED BECAUSE OF THE VOLUME OF INQUIRIES. I AM A RETIRED TEACHER AND COULD NOT ADVANCE BECAUSE OF BAD CREDIT WHICH I DID NOT CREATE/ NOT MY DOING. I COMPLAINED TO ALL PARTIES AND FOLLOWED THE CHAINS OF COMMANDS FOR REDRESS AND OR ACTION . STILL NO CHANGE. I NEED HELP WITH THIS ISSUE AND OTHERS INVOLVING WELLS FARGO, WHOM I DO CHECKING WITH SO THAT THEY CAN DRAFT MY MONTHLY MORTGAGE PAYMENT ONLY. I DON'T REALLY CARE ABOUT THEM. NOT GOOD SERVICE. HAVE HANDICAPPED ME AND AFFECTED MY HOME AND LIVELIHOOD. PH 205-285-xxxx
Posted by Carol Burk
on
I just saw this settlement. I have an account with Wells Fargo for years. I don't know if they have opened up other accounts in my name. How would I find this out?
Posted by Dante J. Flamminio
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They said i had to get a debt card with the new checking account, i dont like debt cards. and never use it.
Posted by sandra benston
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I have a mortgage with this bank and they signed us up for a disability insurance we didn't ask for . we had it taken off lit had stopped after we requested it be stopped then later after a letter saying if you would like the insurance to contact them if you weren't interested no response was required we didn't respond and just recently the same charge began being added to the mortgage payment we didn't authorize this to be added on to our payment its been going on for years its about 29.00 a month which over the years adds up.. I think they should start another lawsuit. thanks Sandra Benston
Posted by Paul
on
Im in the lawsuit the lawyer only gets 15% of 142 million i had 7 account open in my name plus identity protection how much should i get and how fast
Posted by Jody Caress Jody Cervelli
on
I was with Wells Fargo from 2008 to 2015 and they constantly messed up my acct and signed me up to the better acct with out my knowledge . I should be included in this Law Suite they took lot of my money
Posted by Pete Perez
on
I buy,for many years,Alor Vera Gel from Walmart.
It's the Brand Name Equate which is Walmart's Brand Name.
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