Who is a Class Member
You are included in the Wells Fargo Unauthorized Accounts Settlement if at anytime from May 1, 2002 through April 20, 2017, Wells Fargo opened a checking or savings account, credit card, or line of credit in your name without your consent, or submitted an application for a checking or savings account, credit card, or line of credit without your consent or if you obtained Identity Theft Protection Services from Wells Fargo.
If you don’t qualify for this settlement, check out our database of other class action settlementsyou may be eligible for.
The Wells Fargo Unauthorized Accounts settlement provides that eligible Class members may receive Fee Reimbursement, Credit Impact Damages, and Additional Compensation.
- Fee Reimbursement: if you claim that you were charged fees in connection with an Unauthorized Account, you may be eligible to receive fee reimbursement. If your account was opened between January 1, 2009 and April 20, 2017, you can receive reimbursement for actual amount of fees you were charged. If your account was opened between May 1, 2002 and December 31, 2008, you will receive a Flat Fee Reimbursement.
- Credit Impact Damages: Class Members can receive compensation if they paid a higher interest rate on a loan or credit card because their credit score was hurt by an unauthorized Wells Fargo credit card, line of credit, or small business deposit account, or an unauthorized application for one of those products. The actual payment will be calculated on a case-by-case basis by experts retained by Class Counsel.
- Additional Compensation: After Fee Reimbursement and Credit Impact Damages payments are dispersed and all fees and court costs have been paid, any remaining settlement funds will be paid to eligible Class Members. The exact amount will depend on how many Unauthorized Accounts each Class Member has or had, along with authorized enrollment in Identity Theft Protection Services.
Proof of Purchase
- Class members will need to provide their Claimant ID Number from their individual class notice along with ONE of the following in order to login to the claim form:
- Date of birth
- Email address
- Last 4 digits of your Social Security Number
If you do not have your Claimant ID Number or other information needed to login, please contact the Settlement Administrator.
Wells Fargo Unauthorized Accounts Settlement Notes
- Jabbari v. Wells Fargo & Co.
- Case No. 3:15-cv-02159
- Pending in the U.S. District Court for the Northern District of California
Plaintiffs Shahriar Jabbari and Kaylee Heffelfinger filed a consolidated class action lawsuit against Wells Fargo alleging engaged in an unlawful routine practice of opening customer accounts and issuing credit cards without the customer’s authorization of knowledge in order to maximize its profits.
According to the Wells Fargo Unauthorized Accounts class action lawsuit, when customers fail to maintain mandatory account balances associated with these “unauthorized” accounts they were not aware of, Wells Fargo would charge the customer a fee – even going so far as to take money from the customer’s existing accounts or sending the “debt” the customers “owe” to a debt collection agency.
Last September, Wells Fargo admitted that it opened two million potentially unauthorized accounts between 2011 and 2015 and placed blamed on unrealistic sales goals placed on its employees.
Under the terms of the settlement, Wells Fargo has agreed to pay $142 million. This settlement fund will cover settlement administration costs, attorneys’ fees, and other court-related expenses. The amount remaining will be paid to Class Members in the form of Fee Reimbursement, Credit Impact Damages, and Additional Compensation.
Class members who wish to object to the terms of the settlement must do so by Feb, 19, 2018. Class members who wish to file a claim must do so by Feb. 3, 2018.
- 2/3/18: Claim Form Deadline
- 2/19/18: Objection or Exclusion Deadline
- 3/22/18: Final Approval Hearing at 10:00 am PT (class members do not need to attend this hearing in order to receive a slice of the settlement pie).
- Mail: Wells Fargo Unauthorized Accounts Settlement, c/o Rust Consulting, PO Box 2594, Faribault, MN 55021-9594
- Phone: 1-866-431-8549
- Derek W. Loeser, Gretchen Freeman Cappio, Daniel P. Mensher, Jeffrey Lewis, and Matthew J. Preusch of Keller Rohrback LLP