Unclaimed Millions Up for Grabs: Time to Cash in on Class Action Settlements

Companies that have adopted negligent or harmful policies are facing increased scrutiny from both consumers and the government. Examples include AT&T’s deliberate data slowdowns while maintaining high rates, Google and Facebook’s facial recognition security flaws, and even mortgage practices that cause homes to go into foreclosure (Wells Fargo).

Numerous of these cases have resulted in class action lawsuits and Federal Trade Commission (FTC) investigations, which have led to a number of settlements totaling millions or even billions of dollars that benefit consumers.

The Consumer Financial Protection Bureau (CFPB) filed a significant complaint against the banking institution, accusing it of “breaking federal consumer protection laws that apply to financial products.”

According to an article published by Go Bank Rates on January 29, 2023, Fargo agreed to a massive $3.7 billion settlement as a result, of which $1.7 billion will go to a victims fund and $2 billion will be given back to customers.

Any client of Wells Fargo who had an open banking, mortgage, or auto loan between 2011 and 2022 qualifies.

The bank agreed to a $2.6 million settlement even though it denies any wrongdoing. Claimants will receive between $35 and $140 depending on how many of them submit their claims by the deadline at this website.