Thousands of California residents may soon receive compensation from a $19.5 million class action settlement involving Wells Fargo, The Credit Wholesale Co. Inc., and Priority Technology Holdings Inc. The lawsuit alleges that these companies recorded phone calls without consent, violating the California Invasion of Privacy Act (CIPA).
If you received a call from The Credit Wholesale Co. Inc. between October 22, 2014, and November 17, 2023, you may be eligible for a payout. This guide provides all the details on eligibility, potential compensation, and how to file a claim.
What Is the Wells Fargo Settlement About?
The class action lawsuit accuses Wells Fargo and its business partners of secretly recording phone calls without informing or obtaining permission from the recipients. This practice violates California law, which requires both parties to consent to a call being recorded.
Although Wells Fargo and the other companies deny any wrongdoing, they have agreed to pay $19.5 million to settle the claims and avoid further litigation.
Who Is Eligible for Compensation?
You may qualify for a payout if:
- You lived in California at the time of the calls.
- You received a call from The Credit Wholesale Co. Inc. between October 22, 2014, and November 17, 2023.
- Your call was recorded without your consent.
How Much Can You Receive?
The exact compensation amount depends on the number of claims filed. However, estimated payments range from $86 to $5,000 per eligible call.
The net settlement fund (after legal fees and administrative costs) will be divided among all approved claims. If fewer people file claims, individual payouts could be higher.
Important Deadlines
| Event | Date |
|---|---|
| Claim Submission Deadline | April 11, 2025 |
| Final Settlement Approval Hearing | TBD |
After the final court approval, payments will be processed.
How to File a Claim
To claim your settlement payout, follow these steps:
- Confirm Eligibility – Check if you received a call within the eligibility period (October 22, 2014 – November 17, 2023).
- Gather Required Information – You will need:
- The phone number that received the call.
- If applicable, the business name associated with the call.
- Complete the Claim Form – Visit the official settlement website and fill out the required details.
- Submit the Claim – Ensure your claim is submitted online or postmarked by April 11, 2025.
Why This Settlement Matters
Many affected individuals welcomed the settlement as a step toward protecting consumer privacy. The case also highlights the importance of corporate accountability and compliance with state laws regarding call recording.
While Wells Fargo has not admitted to any wrongdoing, this is not the first time the bank has faced legal issues. In December 2022, Wells Fargo agreed to pay $3.7 billion for illegal practices related to loans and fees.
FAQs:
1. What is the Wells Fargo settlement about?
The lawsuit claims Wells Fargo and its partners recorded phone calls without consent, violating California law. The settlement compensates eligible individuals and resolves the legal dispute.
2. Who qualifies for a payment?
You may be eligible if:
You lived in California at the time of the calls.
You received a call from The Credit Wholesale Co. Inc. between October 22, 2014, and November 17, 2023.
The call was recorded without your permission.
3. How much can I receive?
Payouts will depend on the number of claims filed. Estimates suggest $86 to $5,000 per call, but actual amounts will vary.
