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
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
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
Please note: Top Class Actions is not a settlement administrator or law firm. Top Class Actions is a legal news source that reports on class action lawsuits, class action settlements, drug injury lawsuits and product liability lawsuits. Top Class Actions does not process claims and we cannot advise you on the status of any class action settlement claim. You must contact the settlement administrator or your attorney for any updates regarding your claim status, claim form or questions about when payments are expected to be mailed out.
56 Comments
Pls add me
Pls add me
Pls add me
Pls add me. Thanks
Pls add me
Pls add me
Pls add me
Pls add me. Wells fargo are fraud
Add me
Add me
Add me
Add me
Add me
Please add me
Add me
Add me to this claim please and thank you
How do I apply
Add me please
Please add me
I financed a property through Wells Fargo during that time period and I would like to see if I qualify.
Please add me.
Please add me in I’m a Wells Fargo customer.
Add me please I have wells Fargo still and nothing but problems with them
Please add me im.a customer with wells Fargo ty
Please include mw I currently have open accounts with Wells Fargo
Please add me
Please add me…
Please add me
PLEASE ADD ME
I financed my home through this company during those years as well. I think I may qualify to be included in this Wells Fargo lawsuit. So please add my name.
We’ve had a Wells Fargo Merchant Service account since sometime in the 1990s. I received an email regarding the class action lawsuit but didn’t see a claimant id #. We closed 1 account during Covid & opened a new one. Everything is still under the same EIN and corporation. I’m not sure if we need to submit a claim for the old account. Can you please contact me and let me know what information you need so I can find out if we need to submit a claim and retrieve the ID #?
Please add me
Add me
Add me
Add me please because I never received the email
I’ll got afar loan just a paid it off do
I’ll qualified ?
please add me
Please ADD ME
Please add me.
I’ve never received any information on this.
Please add me I finance my house Thur Wells Fargo during those years
Please add me
Please add me
I never received an email.
Thanks
Add me I have not received a email and I use wells for everything
sorry for your luck.
Add me
I was a Wells Fargo customer from 2008 to 2012 finance of a Car Sales.
please add me. I never received an email or a regular mail with that number
Please add me to the list; I never received notification.
Thank you.
Please add me to this class action against WELLS FARGO MERCHANT case 1:17-cv-04583-GRB. Thanks !
Add me!
Add me please thank
ADD ME IN. I NEED AN ID NUMBER
Following with this
How do I locate my Claimant ID number. I never received an email or a regular mail with that number.
Following
same issue for me. been with wells fargo since 2010