Court approves $142 million class-action settlement for retail sales practices
Final court approval represents another step forward in Wells Fargo’s efforts to make things right for customers.
A $142 million class-action lawsuit settlement — known as Jabbari v. Wells Fargo Bank, N.A. — has been approved by the U.S. District Court for the Northern District of California.
“The court’s approval of the broad and far-reaching $142 million settlement agreement is a significant step forward in making things right for our customers and further restoring trust with all of Wells Fargo’s stakeholders,” said CEO Tim Sloan. “We are pleased with this decision as it supports our efforts to help customers impacted by improper retail sales practices and ensures they have every opportunity for remediation.”
The settlement class consists of all individuals who claim that Wells Fargo opened, without their consent, a consumer or small business checking or savings account or unsecured credit card or line of credit, or enrolled them, under certain circumstances, in Identity Theft Protection services, in each case between May 1, 2002, and April 20, 2017.
The claims filing period for the settlement will remain open for eligible current and former customers to submit claims through July 7, 2018, online at www.WFSettlement.com, or by calling 866-431-8549.
The settlement agreement is one of many steps Wells Fargo has taken to make things right for customers who may have been affected by improper retail sales practices. A summary of the actions Wells Fargo has taken to date can be found in an interactive timeline on the company’s progress.