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This settlement is closed!
Please see what other class action settlements you might qualify to claim cash from in our Open Settlements directory!
Update 4: On Nov. 1, 2020, Top Class Actions viewers started receiving checks in the mail worth up to $627.02. Congratulations to everyone who filed a claim and got PAID!
UPDATE 3: As of July 20, 2020, the appeals to the Wells Fargo Unauthorized Accounts Class Action Settlement were resolved. On September 30, 2020, the court approved a motion to distribute settlement funds to approved claimants. According to the motion, the settlement administrator anticipates payments to be made by mid-November. Keep checking back and let us know when you receive a check in the comments section below or on our Facebook page.
UPDATE 2: As of July 3, 2018, several appeals to the Wells Fargo Unauthorized Accounts Class Action Settlement have been filed. 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.
UPDATE: On May 30, 2018, a California federal judge granted final approval for a $142 million class action settlement over claims that Wells Fargo opened fake bank accounts, despite many arguments that the settlement is insufficient.
Parties have reached a $142 million settlement over allegations that Wells Fargo employees opened accounts without customers’ consent.
The settlement provides compensation for Wells Fargo customers who were affected by the bank’s practice of opening unauthorized accounts in customers’ names. These customers were allegedly charged fees for these unauthorized accounts and suffered damage to their credit ratings.
Plaintiff Shahriar Jabbari filed this Wells Fargo class action lawsuit in May 2015. Jabbari alleges Wells Fargo created an internal professional culture that drove its employees to meet unattainable sales goals. Pressure on these employees was allegedly so intense that they resorted to opening bogus accounts in the names of existing customers.
Wells Fargo allegedly withdrew funds from customers’ preexisting accounts to pay fees associated with the unauthorized accounts. Fraudulent accounts that built up an excessive debt were sometimes referred to collection agencies, according to this Wells Fargo class action lawsuit.
Parties reached an initial settlement in March 2017. One month later, the proposed settlement was expanded to include more compensation for more Class Members.
The settlement requires Wells Fargo to create a settlement fund worth $142 million. After deductions are made to cover court costs, attorney fees and the costs of settlement administration, the remainder of the settlement fund will be distributed among qualifying Class Members.
Notices will be sent to known Class Members sometime in early October. Potential claimants can register online to be notified when the settlement administrator begins to accept claim submissions.
Beginning Oct. 6, 2017, Class Members may register online to receive a Claim Form via mail or to file a claim online. The settlement administrator will begin sending notices to known Class Members in October. Potential Class Members who do not receive a notice may want to contact the settlement administrator to confirm their membership in the Class.
Class Members who wish to be excluded from the settlement or to object to its terms must do so in writing by Dec. 5, 2017.
Who’s Eligible
Class Members include all persons for whom Wells Fargo or its current or former subsidiaries or agents opened an unauthorized account or submitted an unauthorized application, or who obtained identity protection services from Wells Fargo from May 1, 2002 through April 20, 2017.
Potential Award
Varies.
Class Members can get compensation for account fees and damage to their credit, and they may get additional compensation as a distribution of any leftover settlement funds.
Those who were charged fees in association with an unauthorized account can get reimbursed for those fees. Class Members can receive the actual amount of the fees they were charged for accounts opened between Jan. 1, 2009 and April 20, 2017, if those accounts were not already used and those fees have not already been reimbursed.
For unauthorized accounts opened between May 1, 2002 and Dec. 31, 2008, Class Members can receive a flat amount that will be equal to the average reimbursement issued for unauthorized accounts opened between Jan. 1, 2009 and April 20, 2017.
Credit Impact Damages will be determined on a case-by-case basis to compensate for higher interest rates paid on loans or credit cards attributable to the Class Member’s unauthorized accounts.
After Fee Reimbursements, Credit Impact Damages, and all other expenses are paid, any remaining settlement funds will be distributed among Class Members.
Proof of Purchase
A Claimant ID number is required to submit an online claim form, along with ONE of the following:
Date of birth
Email address
Last 4 digits of Social Security number.
If you have misplaced your letter regarding this settlement or cannot locate your claimant ID number on the letter, please contact the Claims Administrator at 1-866-431-8549 for help.
There is also a claim form available that can be printed and mailed, but requires a Social Security number:
https://wfsettlement.com/Portals/0/Requested%20Claim%20Form.pdf
Claim Form Deadline
7/7/2018 UPDATED
Case Name
Jabbari, et al. v. Wells Fargo & Co., et al., Case No. 3:15-cv-02159, in the U.S. District Court for the Northern District of California
Final Hearing
5/30/2018 UPDATED
Settlement Website
Claims Administrator
Wells Fargo Unauthorized Accounts Settlement
c/o Rust Consulting
P.O. Box 2594
Faribault, MN 55021-9594
1-866-431-8549
Class Counsel
Derek Loeser
Gretchen Freeman Cappio
Daniel P. Mensher
Jeffrey Lewis
Matthew J. Preusch
KELLER ROHRBACK LLP
Defense Counsel
David H. Fry
Erin J. Cox
MUNGER TOLLES & OLSON LLP
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130 thoughts onWells Fargo Unauthorized Accounts Class Action Settlement
wells fargo closed my account unauthorized-ly
I kept getting messages from a collector that I owed Wells Fargo money. I have never had an account at the bank called Wells Fargo. I made it very clear to the caller by stopping them in their tracks and firmly stated, I have never had an account at Wells Fargo and I have heard in the news what is going on with them and I can guarantee you, I do not owe them any money.”
I opened a W(h)ells Fargo account back in 2000 and money would literally disappear from my account for 4 months. Is there any investigation going that far back?
I had a account with them and I paid it off…..somewhere around 2009, not sure of date……sold my house and moved….How can I tell if they opened account in my name….I would not have known….
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I had a Wells Fargo cking acct on 2010. How so I find out if an acct was opened in my name? Thank you.
You can register for updates on the settlement website: https://wfsettlement.com/mainpage/Home.aspx. Notice to class members is supposed to be sent out in October. There is a toll free number you can call as well: 1-866-431-8549.
how would i know if they did open an account in my name?
You can register for updates on the settlement website: https://wfsettlement.com/mainpage/Home.aspx. Notice to class members is supposed to be sent out in October. There is a toll free number you can call as well: 1-866-431-8549.
Did they actually tell their customers they opened other accounts for them? Or how do we find out if they did open other accounts customers didn’t ask for?
I wouldn’t bank with them ever again!
Actually my very first credit card was from WF back 05′ and they opened the account without my consent. Fresh outta high-school I believed they’re excuses.
* their
I had same situation i had to pay over 1200 in credit card veby because of them
Wells fargo destroyed me my dinity&character…Beth Casteel