$185M Wells Fargo COVID forbearance class action settlement

A $185 million Wells Fargo settlement resolves claims the bank placed mortgage loans into COVID forbearance without informed consent.

The settlement benefits individuals who had a Wells Fargo-serviced mortgage placed into COVID mortgage forbearance without informed consent between March 1, 2020, and Dec. 31, 2021.

The class action lawsuit claims Wells Fargo provided mortgage forbearances to consumers who didn’t want them during the COVID pandemic. These unwanted forbearances allegedly caused hardship for borrowers whose credit reports were affected by the halted payments.

Wells Fargo is a bank that provides home loans and other lending services.

Wells Fargo hasn’t admitted any wrongdoing but agreed to pay $185 million to resolve the forbearance class action lawsuit.

Under the terms of the settlement, class members will receive a pro rata share of the first $69 million of the settlement fund. Co-borrowers may receive an additional payment of $83.33. With any funds remaining in the settlement, the administrator may distribute additional pro rata payments. All of these payments will be paid automatically without the need to file a claim form.

Class members who experienced additional harm due to forbearances can file a claim for further payments. Supplemental payments may compensate claimants for delayed refinancing, increased refinancing costs, credit denial, lost income and more.

The deadline for exclusion and objection is Nov. 12, 2024.

The final approval hearing for the settlement is scheduled for Dec. 10, 2024.

Class members who do not exclude themselves will automatically receive certain payments from the settlement. 

To receive other Wells Fargo settlement payments for additional damages, class members must submit a valid claim form by Jan. 10, 2025.

Who’s Eligible

Individuals who had a Wells Fargo-serviced mortgage placed into COVID mortgage forbearance without informed consent between March 1, 2020, and Dec. 31, 2021

Potential Award

Varies

Proof of Purchase

Refinancing documents, denial letters and other lending documents and other proof of damages

Claim Form

NOTE: If you do not qualify for this settlement do NOT file a claim.

Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.

Claim Form Deadline

10/10/2025

Case Name

In re: Wells Fargo COVID Forbearance Settlement Litigation, Case No. 2:24-cv-01026-MHW-EPD, in the U.S. District Court for the Southern District of Ohio

Final Hearing

12/10/2024

Settlement Website

WellsFargoCOVIDForbearanceLitigation.com

Claims Administrator

Wells Fargo Forbearance Litigation
Settlement Administrator
P.O. Box 2794
Portland, OR 97208-2794
888-204-8399

Class Counsel

Derek Loeser
KELLER ROHRBACK LLP

Defense Counsel

Andrew D. Atkins
TROUTMAN PEPPER LLP