CASES

Wells Fargo Unauthorized Accounts

Jabbari, et al. v. Wells Fargo & Company and Wells Fargo Bank, N.A. United States District Court for the Northern District of California
Case No. 3:15-cv-02159-VC

Settlement Status

The distribution of the class action settlement benefits to approved claimants occurred in mid-October through the end of December 2020.

We are unable to respond to any questions specifically about, or provide confirmation of, any individual’s membership in the settlement class or the status of any claims submitted. All inquiries must be directed to the Settlement Administrator. You can contact them at their toll-free number 866-431-8549 or by email at [email protected]. Further information can be found on the settlement website www.wfsettlement.com.

Under the Court-approved settlement, class members with valid claims were entitled to three types of compensation:

1. Refunds for any fees charged to unauthorized accounts that were not already refunded.

2. Payment for the added cost of borrowing money attributable to the unauthorized accounts.

3. Any money remaining in the settlement fund after the above claims have been paid is divided among claimants on a per account basis.

Case Overview

On May 13, 2015, Keller Rohrback L.L.P. filed a class action lawsuit against Wells Fargo alleging the bank victimized its customers by using illegal, fraudulent, and deceptive tactics to boost sales of its banking and financial products.

The complaint, filed on behalf of California consumers and other Wells Fargo customers nationwide, included detailed allegations about Wells Fargo’s “gaming” of customers, including inside information from a current Wells Fargo employee who saw bank employees open unauthorized accounts on a “nearly daily basis.” On July 30, 2015, the Plaintiffs filed their Consolidated Amended Complaint with the Court.

The district court granted its preliminary approval of the class action settlement on July 8, 2017. Judge Chhabria of the United States District Court for the Northern District of California granted final approval of the settlement on June 14, 2018, certifying a class defined as:

All Persons for whom Wells Fargo or Wells Fargo’s current or former subsidiaries, affiliates, principals, officers, directors, or employees opened an Unauthorized Account or submitted an Unauthorized Application, or who obtained Identity Theft Protection Services from Wells Fargo during the period from May 1, 2002 to April 20, 2017, inclusive, with the exception of (i) Defendants’ officers, directors and employees; (ii) the judicial officers and associated court staff assigned to this case, and the immediate family members of such officers and staff; and (iii) Persons who timely and properly opt-out of the Settlement Class pursuant to the procedures set out in Paragraph 12 of the Settlement Agreement.