Wells Fargo class action lawsuit overview:
- Who: Plaintiff Barbara Prado filed a class action lawsuit against Wells Fargo & Company and Wells Fargo Bank NA.
- Why: Wells Fargo allegedly sent vague letters and cashierโs checks to buy off affected consumers without explaining how an error affected their mortgage loan accounts.
- Where: The Wells Fargo class action lawsuit was filed in California federal court.
A new Wells Fargo class action lawsuit alleges the bank overcharged tens of thousands of consumers on their mortgage loan accounts and attempted to settle the issue by sending cashierโs checks without explaining the error.
Plaintiff Barbara Prado alleges she received a letter claiming a Wells Fargo error related to her mortgage loan may have occurred. The letter also reportedly included a $500 cashierโs check. Two days later, she says she received a similar letter with an additional cashierโs check in the amount of $690.65.
The Wells Fargo class action alleges the bank overcharged consumers in connection with certain modifications to their mortgage loan accounts but failed to disclose the error that allegedly led to the overcharge.
โIndeed, it is not even clear from Wells Fargo if the โerrorโ was an overcharge or some other servicing error,โ the lawsuit says.
Plaintiff says bank concealed Wells Fargo error and tried to buy off affected consumers
The Wells Fargo class action lawsuit says the bankโs โunscrupulous actionsโ were completely concealed until June 2024 when it began mailing cryptic letters with cashierโs checks to affected consumers.
The letters allegedly fail to provide any accounting or itemization to explain how the Wells Fargo error affected customersโ mortgage loan accounts.
โIt is therefore impossible for a consumer to determine the amount of their actual damages, including their out-of-pocket harm,โ the Wells Fargo class action lawsuit alleges.
Prado points to the bankโs โhistory of unscrupulous business practicesโ and says she believes the cashierโs checks are an attempt to buy off customers by paying them a nominal amount to compensate them for the Wells Fargo error.
โWells Fargo intentionally disseminated vague letters to discourage consumers from looking into the issue further and exercising their rights,โ the lawsuit states.
The Wells Fargo error class action lawsuit asserts claims for violations of Californiaโs Unfair Competition Law, California Penal Code, conversion and unjust enrichment.
Another recent Wells Fargo class action lawsuit claims the bank charged consumers a fee when they deposited checks that bounced.
Was your mortgage loan account affected by the Wells Fargo error? Tell us about your experience in the comments.
Prado is represented by Abbas Kazerounian, Ryan L. McBride and Jonathan Gil of Kazerouni Law Group APC and Theodore O. Bartholow III and Karen L. Kellett of Kellett & Bartholow PLLC.
The Wells Fargo error class action lawsuit is Barbara Prado v. Wells Fargo & Company, et al., Case No. 3:24-cv-05105, in the U.S. District Court for the Northern District of California.
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80 thoughts onWells Fargo class action claims bank wonโt disclose โerrorโ in mortgage loans
I refinanced my home and stayed with Wells Fargo. When it was time to sell, they with held close to 60 k form me. I never agreed to any amount being withheld or paid back if I was to sell. I did bit know how to fight this buy knew something was wrong.. They have also strategically waited for my account to be low ro prematurely take out scheduked auto bill payment to cause me to overdraft and charge me an overdraft fee onto of that for years ; since before 2009. I never knew that this was not supposed to. E done. I really need help with these issues. Please add me to the list. I hope itโs not too late.
Add me please they did my home mortgage from mortgage options the said they will fudge the numbers to make it work I put 17.000.00 down on a house that was 56.000 told I could go to the closing one er did them played around 2 years later n forclsed on my home I lost all the money down n forced to pay 840.00 a month even after the 17.000.00 bank check put down they took it all Please Help Me
We have had a mortgage through Wells Fargo, for 12 years, when we obtain the mortgage they told us we had to get mortgage insurance. They sent us out the paperwork. It said if youโre injured they will pay your monthly mortgage. If you die they will pay off your mortgage. We send in the paperwork and they sent us three insurance policies they said we had to have to get a mortgage threw them . Weโve been paying on these all these years, went to file a claim. And they said these are only accidental insurances,only if you get hit on a sidewalk. No one there to help me. And when they were setting us up for the mortgage, they promised me no points taken out extra money I could get out. At the time of closing. They did not get the rate they told us to and they took points. I had appraisal a couple years before and it was way higher. They even got the size of the house wrong, they made it smaller than what it is. I mentioned that. She said she would talk to the appraiser. Did not do anything,.And they got me pushed into some credit cards. I tried to get that cleaned up. They sent me a check for $125, that was supposed to be for in Fair practices manipulation. They said thatโs all they can do. I have my mortgage, business account, t two
checkings account, four credit cards. That I was trying to get help and pushed into and they would not help or change anything. Also during copic they stuck Us in forbearance, and wouldnโt let us refinance when the rates were down to 2%.I would like and so much appreciate some help please, we did not know they were such a corrupt Bank. But they had
us stuck, someone of the co-worker said canโt jump ship in the middle of the stream. And when I come back in to talk to the same people about it, they say they no longer work at that branch.
Iโm so glad someone is taking this issue to a lawsuit. I too got the vague letter from Wells Fargo and called the number on the letter they said to call. I had to hang up on them after being transferred 5 times and not getting an answer as to what this was aboutโฆ.They werenโt even Wells Fargo employees; they belonged to a company that was handling this matter. I could not get an explanation out of them about what this was about except that I would get a check and a form if I wanted to enter mediation about itโฆI was so disgusted with the way I was treated that I received a minuscule amount of $244 and deposited it and didnโt want to be bothered with Wells Fargo again. I pay my mortgage to them on time every monthโฆ$244 thanks for nothing WF.
Iโm a Long term Wells Fargo customerโฆ
We had a mortgage with Wells Fargo from 2008 until 2023. When rates dropped, I wanted to refinance a fee years later but was told that we could not! So we had to continued to pay a higher payment. Then a couple of years later they said that we could. By then, we had payee out hundreds of dollars.
I still have a mortgage with Wells Fargo since 2008 till now.