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In re Wells Fargo COVID Forbearance Settlement Litigation
CLASS ACTION SETTLEMENT INFORMATION:
Kellett & Bartholow PLLC (“K&B”) is Co-Interim Class Counsel for the plaintiffs in a pending class action against Wells Fargo Bank, N.A. captioned In re Wells Fargo COVID Forbearance Settlement Litigation, pending in the United States District Court for the Southern District of Ohio, Case No. 2:24-cv-01026-MHW-EPD. We will be seeking that the Court finally approve a $185,000,000.00 settlement reached in this litigation.
www.wellsfargocovidforbearancelitigation.com
THE LAWSUIT:
In the earliest days of the COVID-19 pandemic, when many customers were expressing concern about financial hardship and their ability to make their next mortgage payment, Wells Fargo made a decision to provide mortgage forbearances to certain customers who had made an inquiry or expressed hardship but had not explicitly requested a forbearance. A forbearance temporarily suspends a customer’s obligation to make payments on their mortgage. However, some of the customers who received payment forbearances did not want them.
Plaintiffs allege that Wells Fargo placed customers into forbearance without informed consent. Plaintiffs contend that Wells Fargo’s actions harmed certain customers if, for instance, the forbearance resulted in (a) a new credit application to be denied or (b) an increased interest rate or other credit cost on a new credit application. Wells Fargo denies any and all allegations of wrongdoing and does not admit or concede any actual or potential fault, wrongdoing, or liability in connection with any facts or claims that have been or could have been alleged in the lawsuit or in any similar action.
THE SETTLEMENT:
The Plaintiffs and Wells Fargo reached a settlement agreement to settle the litigation for $185,000,000.00.
A court preliminarily approved the settlement and authorized the parties to send a notice of the pending settlement to certain persons who may have been affected by Wells Fargo’s actions as described in the lawsuit. Currently, the court has scheduled December 10, 2024, for a hearing to determine whether the court will approval the settlement.
NOTICE TO CLASS MEMBERS:
The notice provides information about the lawsuit, the benefits of the settlement to class members, class members’ legal rights, and deadlines for class members to exercise those legal rights, such as opting out of the settlement, objecting to the settlement, and filing claims.
If you received this notice, or if you believe you have been affected by Wells Fargo’s actions in this case, you may (a) click on the link to the class action website provided below, (b) contact the Claims Administrator, and/or (c) contact Kellett & Bartholow PLLC directly.
LINK TO THE CLASS ACTION WEBSITE:
More information about this proposed settlement, including answers to Frequently Asked Questions, the Notice, a Claim Form, copies of relevant documents, and deadlines for class members to exercise their legal rights claims can be found at the following link:
www.wellsfargocovidforbearancelitigation.com
CONTACT THE CLAIMS ADMINISTRATOR:
If you have any questions regarding the administration of the settlement or need help, you may contact the Claims Administrator below. Please include the case name “In re Wells Fargo COVID Forbearance Settlement Litigation,” your name and your return address on all correspondence.
Address: Wells Fargo COVID Forbearance Litigation
Settlement Administrator
P.O. Box 2794
Portland, OR 97208-2794
Toll-Free: (888) 204-8399
CONTACT US FOR MORE INFORMATION:
You may also contact us by calling our law firm at 214-696-9000.
NOTE – This webpage is not about the settlement of the bankruptcy forbearance lawsuit. If you want information about the settlement with Wells Fargo regarding forbearances for people in bankruptcy, CLICK HERE.
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