The $ 2 Billion Wells Fargo Settlement: How To Claim What You’re Owed

Wells Fargo was ordered to pay over $ 2 billion Back to Millions of Customers AFFECTED BY WIDESPREAD MISMANAGEMENT. If you’ve had a mortgage, Auto Loan, Or Bank Account with Wells Fargo, You Could Be entitled to a Payment Without Having to Take Any Action.

What Led To The Wells Fargo Settlement?

The Consumer Financial Protection Bureau (CFPB) Ordered Wells Fargo To Pay A Total of $ 3.7 Billion for A Series of Illegal Activities That Harmed Over 16 Million Customer Accounts [web:23, web:25]. Of that amount, More than $ 2 billion is designated for direct payments to affection consumers . The Remaining $ 1.7 Billion Is a Civil Penalty.

The CFPB Found That the Bank Draw in Numberus Illegal Practices Over Several Years, Including:

• Auto Loans: Illegally Assessing Fees and Interest Charges and Wrongfully Recusessing Vehicles.
• Mortgages: MISAPPLYING PAYMENTS, LEADING TO EBRENCER DENIALS OF LOAN MODIFICATIONS AND WRONGFUL FORECLOSURES.
• Deposit Accounts: Charging Surprise Overdraft Fees and Other Incorrect Charges on Checking and Savings Accounts.

WHHO IS choosing for payment?

You may be chosen for compensation if you were a Wells Fargo Customer and Experienced Any of the issues mentioned ABOVE. The Settlement Covers Millions of Accounts Across The Bank’s Auto Lending, Mortgage, and Consumer Deposit Division. The Settlement has Allocated Specific Funds for Different Types of Misconduct:

• $ 1.3 billion+ For AFFEED AUTO LOAN ACCOUTS.
• $ 500 million+ For affected deposit accous, including $ 205 million for illegal overdraft fees.
• Nearly $ 200 million For affected mortgage accounts.

CUSTOMERS WHOSE VEHICLES WERE WRONGLY REPOSSESSEED ARE ENTITLED TO AT LEAST $ 4,000 IN COMPENSATION FOR RELATED COSTS.

How to Claim Your Share of the Settlement

For the vast Majority of affection customers, No action is required to recueive payment

Wells Fargo Is Legally Required To Contact Elegible Customers About Their Compensation, and Many Have Already Received Payments in The Form of Checks or Account Credits.

– What to do if you have ~ Receive to Payment

If you Believe You are Owed Money from This Settlement But Have Not Been Contact By The Bank, You Can Take The Following Steps:

1. Contact Wells Fargo Directly at 844-484-5089 Between 9 am and 6 pm Eastern Time, Monday Through Friday.
2. If you do not recueive assistance, you can Submit to Formal Complaint to the consumer Financial Protection Bureau (CFPB).

– Beware of Scams

The CFPB has ISSUED to Warning About Potential Scams Related to This Settlement. Fraudsters May Contact You Claiming They Can Help You Get Your Money for An Upfront Fee. Wells Fargo and the CFPB Will Never Ask You To pay to Relev you compensation.

Frequently Asked Questions (FAQS)