Wells Fargo Merchant Services $40M Class Action Settlement

Wells Fargo Merchant Services has agreed to a $40 million settlement benefiting certain merchants who contracted with the company for payment processing services.

The Class includes any merchant in the United States who contracted to receive payment processing services from Wells Fargo Merchant Services and, between Aug. 4, 2011, and Feb. 8, 2021, processed sales through a fixed pricing plan, paid a statement billing fee, non-validation payment card industry (PCI) compliance fee, and/or monthly minimum processing fee, or processed sales through a pricing plan other than standard pricing (also known as “volume tier” or “simplified” pricing), and as of Feb. 8, 2021, is not account-managed (including the premier services team).

Lead plaintiff Patti’s Pitas LLC had alleged Wells Fargo Merchant Services overcharged businesses on their monthly invoices.

Wells Fargo Merchant Services has admitted no wrongdoing, and a judge has not ruled in favor of either party. Instead, both sides have agreed to the settlement to avoid ongoing litigation.

Class Members who are current customers of Wells Fargo Merchant Services will automatically receive a payment by check if the settlement is approved.

Class Members who are former customers must file a claim form in order to receive a payment.

Former customers filing a valid claim form and current customers will be divided into three payment groups.

Group 1 will consist of Class Members that processed sales through a fixed pricing plan at one time or another during the Class Period will receive 60 percent of the net settlement fund.

Group 2, made up of Class Members that paid a statement billing fee, non-validation PCI compliance fee, and/or monthly minimum processing fee during the Class Period will be allocated 10 percent of the net settlement amount. will be allocated to Settlement The Net Settlement Amount will be further allocated within this group as follows:

Group 3, Class Members that processed sales through a pricing plan other than the standard plan (also known as “volume tier” pricing) during the Class Period, and that as of the date of preliminary approval of the settlement are not account-managed (which includes the premier services team), will be allocated 30 percent of the net settlement amount.

Further details on how each group’s allocation is broken down is available on the settlement notice.

The actual amount of each Class Member’s payment will not be calculated until after the claims deadline passes.

Wells Fargo Merchant Services also has agreed to amend its program guide, or equivalent document, as applicable to all current customers not account-managed or on the standard plan, to reflect that any applicable early termination fee will be waived in the event of termination of the agreement by the customer within 45 days of an increase in — or new — non-pass-through fees.

A final approval hearing in the Wells Fargo Merchant Services is scheduled for July 22, 2021.

Class Members who wish to object to or exclude themselves from the settlement must do so by June 8, 2021.

Claim forms must be submitted by July 23, 2021.

Who’s Eligible

Any merchant in the United States who contracted to receive payment processing services from Wells Fargo Merchant Services and, between Aug. 4, 2011, and Feb. 8, 2021, processed sales through a fixed pricing plan, paid a statement billing fee, non-validation payment card industry (PCI) compliance fee, and/or monthly minimum processing fee, or processed sales through a pricing plan other than standard pricing (also known as “volume tier” or “simplified” pricing), and as of Feb. 8, 2021, is not account-managed (including the premier services team).

Potential Award

Varies.

• The actual amount of each Class Member’s payment will not be calculated until after the claims deadline passes.
• Former customers filing a valid claim form and current customers will be divided into three payment groups.
  • Group 1 will consist of Class Members that processed sales through a fixed pricing plan at one time or another during the Class Period will receive 60 percent of the net settlement fund.
  • Group 2, made up of Class Members that paid a statement billing fee, non-validation PCI compliance fee, and/or monthly minimum processing fee during the Class Period will be allocated 10 percent of the net settlement amount. will be allocated to Settlement The Net Settlement Amount will be further allocated within this group as follows:
  • Group 3, Class Members that processed sales through a pricing plan other than the standard plan (also known as “volume tier” pricing) during the Class Period, and that as of the date of preliminary approval of the settlement are not account-managed (which includes the premier services team), will be allocated 30 percent of the net settlement amount.
• Further details on how each group’s allocation is broken down is available on the settlement notice.

Proof of Purchase

No proof of purchase is required for this settlement.

Claim Form

CLICK HERE TO FILE A CLAIM »

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

07/23/2021

Case Name

Patti’s Pitas LLC, et al. v. Wells Fargo Merchant Services LLC, Case No. 1:17-cv-04583-GRB in the U.S. District Court for the Eastern District of New York

Final Hearing

07/22/2021

Settlement Website

MerchantServicesSettlement.com

Claims Administrator

Wells Fargo Merchant Services Settlement
c/o Rust Consulting Inc. – 7182
P.O. Box 1367
Minneapolis, MN 55440-1367
1-866-759-6521
info@merchantservicessettlement.com

Class Counsel

E. Adam Webb
Matthew C. Klase
WEBB, KLASE & LEMOND LLC

Roger N. Heller
Avery S. Halfon
LIEFF CABRASER HEIMANN & BERNSTEIN LLP

Defense Counsel

Jarrod D. Shaw
Nellie E. Hestin
McGUIRE WOODS LLP

Read About More Class Action Lawsuits & Class Action Settlements:

• Wells Fargo Faces Age Discrimination Class Action Over Checking Account Fee
• Wells Fargo Workers Tell Judge They Paid Hundreds to Meet ‘Strict Dress Code’
• Do You Qualify: Asbestos Cancer: Mesothelioma and Lung Cancer Lawsuit Claim Review
• Class Action: American General Life Insurance Underpays Interest Rates on California Policies