Wells Fargo Bank Class Action 2024: Lawsuit Settlement Payment Dates, Eligibility, Amount

Background: Wells Fargo faced legal challenges related to practices involving unauthorized accounts and mischarging customers for auto loans, leading to multiple settlements.

Settlement Scope: The 2024 settlement covers customers who held accounts between 2011 and 2022, with damages totaling $3.7 billion.

Claims Covered: Over 16 million accounts are eligible for claims, addressing issues like misapplied payments, incorrect fees, wrongful foreclosures, and interest charges.

Pending Lawsuit: A new class action lawsuit challenges Wells Fargo's response to the 2016 fake accounts scandal, with terms yet to be finalized.

Payment Dates: Exact payment dates for the 2024 settlement are awaiting confirmation, and eligible customers will be notified in advance by Wells Fargo.

Eligibility Criteria: Eligibility extends to current and former participants affected by specific Wells Fargo issues, requiring legal consultation for clarity.

Settlement Amount: Wells Fargo agreed to pay $3.7 billion, with $1.7 billion allocated for civil penalties and $2 billion for consumer restitution, depending on individual circumstances.