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Wells Fargo customers to get up to $5,000 in $19.5m ‘recording’ settlement – and all you need is your phone number
Plus, the key dates you need to know
THOUSANDS of Americans are eligible for a chunk of a multi-million dollar settlement from Wells Fargo and other companies.
It comes after a class action lawsuit was filed accusing Wells Fargo, Priority Technology Holdings, Priority Payment Systems, and The Credit Whole Sale Company of violating California privacy laws.
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The companies allegedly recorded phone calls with Wells Fargo customers without their consent.
In agreeing to payout $19.5 million to settle the claims, none of the companies have admitted to any wrongdoing.
The settlement benefits those who received a phone call from The Credit Wholesale Company between October 22, 2014 and November 17, 2023.
The company sells credit card processing systems and services for Wells Fargo and Priority Technology Holdings.
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It is claimed that these phone calls were recorded without recipients knowing, breaching the California Invasion of Privacy Act.
The true number of those impacted, and therefore eligible for up to $5,000 from this payout is not known, according to the lawsuit.
The complaint states: "The Classes include tens of thousands of businesses who received appointment setting telemarketing calls from Wholesale’s call centers.
"The exact number of class members is unknown at this time."
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Under the terms of the settlement, class members can claim cash for each call that was received between the given dates.
The exact amount of cash that can be claimed for each call depends on how many claims are filed.
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It is estimated that per call, claimants could get around $86 but the settlement agreement states that it could be as much as $5,000.
The net settlement fund will be divided by the eligible claims that are filed to establish the true number.
Class members who file a claim will have to submit proof of eligibility by providing their phone number and/or business name that received the calls.
All claims must be submitted here by April 11, 2025.
What's a class-action settlement?
Class action lawsuits offer groups of people, or 'classes,' a way to band together in court.
These suits are often brought by one or a few people who allege a company or other entity has wronged a large group of people.
When a suit becomes a class action, it extends to all "class members," or people who may have similar complaints to those who filed the suit.
Companies often settle class actions - offering payment to class members who typically waive their right to pursue further legal action by accepting money.
These payout agreements frequently include statements by the defendant denying wrongdoing. Companies tend to settle class actions to avoid the costs of further litigation.
Pollution, discrimination, or false advertising are a few examples of what can land a class action on a company's doorstep.
A final approval hearing is scheduled for May 20, 2025, after which payments will be made.
Those who do not wish to be part of the settlement or who have objections to it, must contact the settlement administrator by April 4.
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Meanwhile, time is running out to claim a payment from a $73.5 million pharmaceutical settlement.
And you only need to provide one document in order to get in on the cash.