Wells Fargo Inspection Fee Class Action Settlement

A proposed settlement has been reached in the Wells Fargo inspection fee class action lawsuit, resolving claims that Wells Fargo & Co. and Wells Fargo Bank, N.A. improperly assessed property inspections when a mortgage borrower allegedly fell behind on payments by 45 days or more and charged borrowers for that inspection.

Furthermore, the plaintiffs of the Wells Fargo class action lawsuit claim subsequent inspections of the mortgage property were also allegedly ordered every 25 to 35 days for as long as the borrower remained delinquent in payments.

Finally, the Wells Fargo inspection fee class action lawsuit claims the bank concealed these fees from by consumers by labeling them as “Other Charges” on mortgage statements.

The plaintiffs bring several claims against Wells Fargo in this inspection fee class action lawsuit, including violations of California’s Unfair Competition Law and violations of the Racketeer Influenced and Corrupt Organizations by improperly and illegally assessing and charging property inspection fees.

Wells Fargo denies all liability and wrongdoing in this inspection fee class action lawsuit, but has agreed to settle the case in order to avoid the uncertainty of further litigation and increasing court costs.

Per the terms of the Wells Fargo inspection fee class action settlement, Wells Fargo will pay $27,750,000 to establish a settlement fee to compensate eligible Class Members for damages allegedly incurred by Wells Fargo’s actions.

UPDATE: The Wells Fargo Inspection Fee settlement is currently under appeal.  Claims will not be paid until all appeals are exhausted.  We appreciate your ongoing  patience. Top Class Actions will continue to provide updates as we learn more.  Keep checking back and let us know when you receive a check in the comments section below or on our  Facebook page.

Who’s Eligible

You are a Class Member of the Wells Fargo inspection fee class action lawsuit if you had a mortgage serviced by Wells Fargo and you allegedly owe or paid a bank assessed inspection fee between Aug. 1, 2004, and Dec. 31, 2013.

Potential Award

Varies. Calculations of each Class Member’s portion of the settlement will depend on which settlement category they fall into and how many Class Members choose to participate in the settlement.

Proof of Purchase

Postcard Notices of this Wells Fargo class action settlement will be mailed to eligible Class Members on or before Oct. 17, 2015.

If you are part of the group of Class Members who are part of the “Post Sale” category, then you will need a Claim Number and Control Number in order to submit an online claim form. A complete claim form must be submitted online or mailed in postmarked on or before March 16, 2016.

Claim Form

CLICK HERE TO FILE A CLAIM »

Claim Form Deadline

03/16/2016

Case Name

Young v. Wells Fargo & Co., Case No. 4:08-CV-507 RP-CFB, in the U.S. District Court for the Northern District of California.

Final Hearing

01/21/2016

UPDATE 2 on August 4, 2017: Appeals are resolved and the settlement became final and effective on June 12, 2017.  According to a motion filed with the court on August 1, 2017. the settlement administrator is still working through the claims review and deficiency process.  We appreciate your ongoing patience. Top Class Actions will continue to provide updates as we learn more. 

UPDATE 3: On December 5, 2017, a motion to distribute settlement funds was filed.  Please keep checking Top Class Actions for updates.  We will let our viewers know as soon as the motion is approved by the court.

UPDATE 4: On December 7, 2017, the court approved the motion to distribute settlement funds to valid claimants.  It is not known how quickly claims will be paid at this time.  Top Class Actions will continue to provide updates as we learn more.  Keep checking back and let us know when you receive a check in the comments section below or on our  Facebook page.

Settlement Website

www.WellsFargoPropertyInspectionSettlement.com

Claims Administrator

Wells Fargo Inspection Fee Settlement
c/o Garden City Group, LLC
P.O. Box 10106
Dublin, OH 43017-3106
(855) 382-6434

Class Counsel

SCOTT+SCOTT, ATTORNEYS AT LAW, LLP
REESE, LLP

Defense Counsel

SEVERSON & WERSON
FAEGRE BAKER DANIELS