$56.85M Wells Fargo CARES Act class action settlement – Class Action Lawsuits
The Wells Fargo settlement benefits California mortgagors with a mortgage on property located in California whose accounts were “current,” who received a CARES Act forbearance on or after March 27, 2020, and whose accounts were reported as “in forbearance” (or something similar) by Wells Fargo to a consumer reporting agency.
Wells Fargo agreed to a $56.85 million class action lawsuit settlement to resolve claims it violated the federal Fair Credit Reporting Act (FCRA) by failing to report CARES Act forbearances accurately.
The Wells Fargo settlement benefits California mortgagors with a mortgage on property located in California whose accounts were “current,” who received a CARES Act forbearance on or after March 27, 2020, and whose accounts were reported as “in forbearance” (or something similar) by Wells Fargo to a consumer reporting agency.
Plaintiffs in the class action lawsuit accused Wells Fargo of violating the FCRA by reporting accounts with CARES Act forbearances as “in forbearance” instead of “current.” This allegedly inaccurate reporting harmed consumers’ credit scores.
Wells Fargo is a bank that offers a variety of financial services, including mortgages.
Wells Fargo has not admitted any wrongdoing but agreed to pay $56.85 million to resolve the FCRA class action lawsuit.
Under the terms of the Wells Fargo settlement, class members can receive an equal share of the net settlement fund. Exact payments will vary depending on the number of participating class members and the amount deducted for fees and expenses. Class members who receive a settlement check will have 90 days to cash it.
Any funds remaining in the settlement after the first round of payments may be used for a second round of payments if the remaining funds are large enough to warrant a second distribution.
If the remaining funds are not large enough to warrant a second round of payments, the funds will be donated to Credit Builders Alliance, a nonprofit organization that helps low- and moderate-income consumers build credit.
The deadline for exclusion and objection is March 25, 2026.
The final approval hearing for the settlement is scheduled for April 17, 2026.
No claim form is required to benefit from the Wells Fargo CARES Act class action settlement. Class members who do not exclude themselves will automatically receive settlement benefits.
California residents with a Wells Fargo mortgage on property in California who were current on their mortgage payments and received a CARES Act forbearance on or after March 27, 2020, and whose accounts were reported as “in forbearance” by Wells Fargo to a consumer reporting agency.
TBD
N/A
03/25/2026
Stoff v. Wells Fargo Bank N.A., Case No. 37-2020-00020808-CU-BT-CTL, in the Superior Court of California, County of San Diego
04/17/2026
CaresActLitigation.com
Wells Fargo CARES Act Mortgage Credit Reporting Class Action
c/o A.B. Data Ltd.
P.O. Box 173008
Milwaukee, WI 53217
[email protected]
877-307-7268
Andrew Brown
THE LAW OFFICES OF ANDREW J. BROWN
Russell S. Thompson IV
THOMPSON CONSUMER LAW GROUP P.C.
Enu Mainigi
Craig Singer
Suzanne Salgado
WILLIAMS & CONNOLLY LLP
Mark Lonergan
Rebecca Saelao
STINSON LLP
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Wells fargo assisted in various criminal acts and gave credit so that my identity thieves bought properties, conveyance and assisted in fraud without my knowledge also ghost accounts with proceeds of various capital gains and also property sales without my knowledge
Add me please
I have had wells Fargo open up accounts in Mt name without me ever even stepping foot into one nor filling one online. They sent me two cards then sent me two more separate pin numbers for accounts I did not open. I asked them to cancel the accounts and they sent me two more. I closed them and never heard back.
Wells fargo assisted in various criminal acts and gave credit so that my identity thieves bought properties, conveyance and assisted in fraud without my knowledge also ghost accounts with proceeds of various capital gains and also property sales without my knowledge
🤔
Your email address will not be published. By submitting your comment and contact information, you agree to receive marketing emails from Top Class Actions regarding this and/or similar lawsuits or settlements, and/or to be contacted by an attorney or law firm to discuss the details of your potential case at no charge to you if you qualify. Required fields are marked *
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Wells fargo assisted in various criminal acts and gave credit so that my identity thieves bought properties, conveyance and assisted in fraud without my knowledge also ghost accounts with proceeds of various capital gains and also property sales without my knowledge
Add me please
I have had wells Fargo open up accounts in Mt name without me ever even stepping foot into one nor filling one online. They sent me two cards then sent me two more separate pin numbers for accounts I did not open. I asked them to cancel the accounts and they sent me two more. I closed them and never heard back.
Wells fargo assisted in various criminal acts and gave credit so that my identity thieves bought properties, conveyance and assisted in fraud without my knowledge also ghost accounts with proceeds of various capital gains and also property sales without my knowledge
🤔
Your email address will not be published. By submitting your comment and contact information, you agree to receive marketing emails from Top Class Actions regarding this and/or similar lawsuits or settlements, and/or to be contacted by an attorney or law firm to discuss the details of your potential case at no charge to you if you qualify. Required fields are marked *
Please note: Top Class Actions is not a settlement administrator or law firm. Top Class Actions is a legal news source that reports on class action lawsuits, class action settlements, drug injury lawsuits and product liability lawsuits. Top Class Actions does not process claims and we cannot advise you on the status of any class action settlement claim. You must contact the settlement administrator or your attorney for any updates regarding your claim status, claim form or questions about when payments are expected to be mailed out.
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