Customer Redress Review Program – Wells Fargo

In September 2016, Wells Fargo entered into agreements with the Office of Consumer Financial Protection, the Office of the Comptroller of the Currency, and the Los Angeles City Attorney’s Office to address allegations that some of our retail customers received products or services they did not request. customers who have had an account or service opened without their consent or without being fully informed of the details of the account or service may be eligible for remediation. Additional details about the remediation provided by Wells Fargo are described below.

analysis of third-party accounts

In August 2017, Wells Fargo completed an expanded third-party review of retail bank accounts to identify accounts and potentially unauthorized fees and charges paid by customers related to those accounts. The accounts and services included in the review were Wells Fargo consumer or small business checking or savings accounts, credit cards, unsecured lines of credit, and online bill payment services.

Specifically, Wells Fargo conducted a review of the data associated with these accounts and services open from January 2009 through the end of September 2016. Wells Fargo has provided refunds and credits to customers for potentially unauthorized accounts and payment enrollments. online bills identified during this review for which customers paid fees and charges.

customer complaints and mediation claims

In addition, Wells Fargo has provided refunds and credits to customers for fees and charges associated with potentially unauthorized accounts and online bill payment services that were identified in response to customer complaints and mediation claims.

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class action settlement – jabbari v. wells fargo

Customers have also received compensation under the class action settlement of $142 million for accounts dating back to 2002 if the customer filed a claim form before the July 7, 2018 deadline or complained. to Wells Fargo in the past for an unauthorized account. . Customers who complained to Wells Fargo about an unauthorized account during the period from January 1, 2011 to March 23, 2017 were automatically enrolled as participants in the class action settlement. Check wfsettlement.com for additional information on settlement status.

after plaintiffs’ attorneys’ fees and administration costs, the class action provided reimbursement for fees not yet reimbursed and compensation for increased borrowing costs due to the impact on the credit score associated with a potentially unauthorized account. the remaining funds were distributed to class participants by account.

The class action settlement covered everyone who claimed that Wells Fargo opened an unauthorized consumer or small business checking or savings account or an unsecured credit card or line of credit between May 1 2002 and April 20, 2017. It also covered customers who signed up for certain identity theft protection services during that period (details are available online at wfsettlement.com).

continuous efforts

wells fargo continues to work with any customer who contacts us with sales practice concerns, including customers who did not participate in the remediation described above. customers who have had an account or service opened without their consent or without being fully informed of the details of the account or service may be eligible for compensation, correction of credit bureau information caused by the account unauthorized account and, among other things, a free mediation opportunity if the business is unable to resolve an issue related to an unauthorized account directly with the customer.

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At this time, all payments from the jabbari class action settlement have been issued, the deadline to collect them has passed, and the distribution phase has been completed. however, if you are an eligible class member with an uncollected payment, you can still claim your payment. To do so, you must submit a request in writing, either by email to info@wfsettlement.com, or through us. Mail to: Wells Fargo Unauthorized Account Settlement, P.O. box 2594, faribault, mn 55021-9594.

If you have additional questions about the jabbari class action settlement, please see wfsettlement.com. The settlement administrator also provides registered settlement information at 1-866-431-8549. If you have questions about other potentially unauthorized accounts or services that have not yet been addressed in your jabbari settlement claim, we encourage you to contact our customer support team at 1-844-931-2273.

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