If Wells Fargo policies have affected you, there are several active settlements from which you might receive compensation. Also, there’s a lot to cover regarding the payout opportunities so let us begin checking your eligibility.
Active Wells Fargo Settlement Summaries
Settlement for Unapproved COVID-19 Forbearance on Mortgages – $185 Million
The $185 million settlement became effective on February 15, 2025 for customers who had lesser mortgages forbearance on their accounts without forbearance on mortgages during the period of March 1, 2020 to December 31, 2021.
Details:
- Automatic payments begin in March 2025
- $69 million allocated to the entire class and paid out equally.
- Co-borrowers receive extra $83.33 payments.
- An opt-in is not necessary for basic payments.
Wells Fargo Shareholders Securities Class Action Settlement – $1 Billion
This $1 billion settlement is aimed at shareholders of Wells Fargo stock who bought it during February 2, 2018 to March 12, 2020. The first and second distributions on October 22, 2024 and July 23, 2025 respectively.
Eligibility Requirements
| Settlement Type | Eligibility Period |
|---|---|
| COVID Forbearance | Mortgage forbearance March 2020 – December 2021 |
| Securities Settlement | Stock ownership February 2018 – March 2020 |
How to Check Your Eligibility
Required Documentation
- Account statements from relevant periods
- Mortgage records for forbearance claims
- Stock purchase confirmations for securities claims
Contact Information
- Forbearance Settlement: 1-888-204-8399
- Official websites provided by settlement administrators
- Check your mail regularly for settlement notices
Payment Timeline and Amounts
Current Status
For the COVID forbearance settlement, eligible class members received automatic payment settlement checks in the mail on March 17, 2025.
Settlement type impacts payment ranges:
- Forbearance claims: Payments spanning 86−400+ (upon receipt of automatic payments)
- Securities claims: Retrieval based on sustained stock losses
- Supplemental claims: Further compensation based on auxiliary documented damages
Key Takeaways
- Arriving checks are sent in plain envelopes
- No further action needed for automatic payment processing.
- Submission of forms for Supplemental claims has strict deadlines.
Most Commonly Asked Questions
Q: Is there any action needed on my end to receive payment?
A: In case of automatic payments, no action is needed. Settlement administrators sent checks to eligible class members.
Q: How can I verify whether I’m eligible?
A: Eligibility can be checked based on having a Wells Fargo mortgage in forbearance during the 2020-2021 period or holding Wells Fargo stock during 2018-2020.
Q: Is there any remedial action for the claim deadlines?
A: Claim deadlines were prescribed until January 10, 2025 but automatic payment processes were unrestricted.
New Australia Road Rules August 2025: Key Driving Fine Updates Every Driver Should! Know