Wells Fargo CIPA Settlement Receives Final Approval
The final approval of a $28 million CIPA settlement agreement between Wells Fargo and its customers has been granted. The agreement resolves claims that Wells Fargo recorded them without their consent during telemarketing sales calls.
Wells Fargo has already made a full payment to the settlement administrator, and customers should get their portion of the settlement funds in a few weeks.
According to the CIPA settlement agreement, claimants will have 90 days to cash the settlement checks, after which the administrator would reissue checks to individuals who have not done so.
Within 18 months, any unclaimed funds shall be handed over to the unclaimed property fund of California.
Wells Fargo Bank Agree To Enter Into A Settlement Agreement
According to the latest reports, Wells Fargo and a company working for them named International Payment Services LLC have agreed to pay $28 million to settle the case brought up against them.
The Wells Fargo CIPA Class Action was filed by the complainant CS Wang & Associate, alleging that Wells Fargo and companies that work for them have recorded calls without asking for the prior consent of the call’s recipient.
According to CS Wang & Associate, the defendants’ actions were a violation of the CIPA or California Invasion of Privacy Act.
Wells Fargo has vehemently denied any allegations that they have committed any misdeeds in relation to the case. However, they entered into an agreement recently which required them to pay $28 million as settlement.
To know whether you qualify for this settlement case, check out the following information below:
- Those who can join this settlement are businesses or entrepreneurs in California who received a mobile phone call between the 7th of March 2011 to 7th of May 2014 from a call center place owned by International Payment Services LLC or any other one of its subsidiaries and affiliates;
- No proof of purchase is required in order to participate in this settlement case;
- Though the amount eligible claimants can receive is still a blur at the moment, reports suggest that a claimant can expect to receive around $40;
- Settlement checks can go up to $5,000 depending on the claim made by the participant.
- Those who wished to join the settlement to receive monetary compensation, needed to file their claims until the 1st of November 2021;
- If you are an eligible claimant yet you do not want to be included in the roster of recipients, you needed to submit your exclusion form until the 25th of October 2021;
Editor’s Note on Wells Fargo CIPA Settlement 2021:
This settlement report aims to alert you of the latest news about the class action settlement proceedings involving Wells Fargo and its third-party partners after they allegedly violated the law by recording calls without asking for consent. You might also be interested in the Ally Financial Repossession Settlement for $787.5 million.
Case Name(s) & No.: CS Wang & Associate, et al. v. Wells Fargo Bank N.A., et al.; Case No.: 1:16-cv-11223
Jurisdiction: United States (U.S.) District Court for the Northern District of Illinois, Eastern Division
Products/Services Involved: CIPA
Allegation(s): Wells Fargo and other defendants have violated the CIPA after they reportedly called business clients and recorded the conversations without any prior notice.
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