Wells Fargo has agreed to a $19.5 million class action settlement after allegations that it unlawfully recorded phone calls without obtaining proper permission. According to the lawsuit, Wells Fargo, Priority Technology Holdings Inc, and The Credit Wholesale Co. Inc. recorded conversations without telling the receivers, in breach of the California Invasion of Privacy Act (CIPA).
The accused companies have chosen to settle the lawsuit in order to deal with the claims, although companies are denying any kind of misconduct.
Wells Fargo $19.5M Call Recording Settlement
The primary goal of this lawsuit is Wells Fargo and its associated partners’ claimed illegal recording of phone conversations with Californians and companies without their permission. All participants in a phone conversation are required by California law to be made aware whether the call is being recorded.
The lawsuit claims that Wells Fargo and its associates violated the state’s businesses and individuals right to privacy by failing to disclose this information immediately.
$19.5M Wells Fargo Call Recording Class Action Settlement
| Company Involved | Wells Fargo |
| Country | USA |
| Year | 2025 |
| Settlement Amount | $19.5 million |
| Received a Call between | October 22, 2014, and November 17, 2023 |
| Category | Government Aid |
| Official Website | https://www.wellsfargo.com/ |
Companies Involved in the Lawsuit
Several companies are involved in this legal conflict, and each one is involved in the alleged violations. Wells Fargo Bank is the main defendant, with Priority Technology Holdings Inc. and The Credit Wholesale Co. Inc. also involved.
The Credit Wholesale Co. Inc., a sales company has been accused of making calls to California residents and businesses without informing them that the conversations were being recorded.
Compensation for Affected Individuals and Businesses
- Compensation may be available to individuals that were contacted by The Credit Wholesale Co. Inc. between 22nd October 2014 to 17th November 2023.
- The settlement provides a maximum claim value of $5,000 and a compensation of $86 per call.
- Those who received multiple calls may qualify for higher payouts, depending on the number of calls they can verify.
Eligibility Criteria for Filing a Claim
Claimants must have been physically present in California and receive a call from The Credit Wholesale Co. Inc. during the specified time in order to be eligible for a payout of the Wells Fargo $19.5 Million Settlement. Additionally, they must not have consented to the recording of the call.
Claimants are required to provide either their phone number or business name used during the calls. If they received a settlement notice, they must also submit their Claim ID and PIN Code. Those expecting a payment of over $600 must complete and submit a W-9 tax form along with their claim.
Key Deadlines & Payment Timeline
| Event | Date |
|---|---|
| Objection & Exclusion Deadline | April 4, 2025 |
| Claim Submission Deadline | April 11, 2025 |
| Final Approval Hearing | May 20, 2025 |
| Payment Distribution Begins | Around July 2025 (52 days after court approval) |
Steps to Submit a Claim and Key Deadlines
- Eligible individuals must visit the official Wells Fargo Settlement website to submit their claims.
- They need to complete the online claim form with their phone number or business details, and if applicable, their Claim ID and PIN Code.
- Claims can also be submitted via mail, but the deadline for all submissions is 11th April 2025.
- The final approval hearing for the settlement will take place on 20th May 2025.
- Wells Fargo settlement payout is expected to be distributed around July 2025, about 52 days after court approval.
- Those who want to object to or opt out of the settlement must do so by 4th April 2025.
FAQs
Who is eligible for the Wells Fargo $19.5 million settlement?
Individual were in California and got a recorded call from The Credit Wholesale Co. Inc. without consent between 22nd Oct 2014 to 17th Nov 2023.
How much compensation can affected individuals receive?
Eligible claimants may receive up to $5,000, with a base compensation of $86 per call.
When will the Wells Fargo settlement payouts be distributed?
If the court approves the settlement, payouts are expected around July 2025, approximately 52 days after the final approval hearing.
Peter Robinson is a news writer with 6 years of experience, specializing in Government Aid and the latest news. He focuses on explaining government programs and current events in an easy-to-understand way. Peter is dedicated to keeping readers informed with reliable and up-to-date information.