Settlement Structure: Claims Made
Closed Settlement Statement:
According to court documents, the claim submission deadline has passed. Please contact the claims administrator if you have any questions.Case Summary:
The plaintiffs in this class action claim that Wells Fargo violated the Unruh Civil Rights Act, by discriminating against borrowers who applied for home loans through branches in minority areas. The loan officers at these branches, the complaint alleges, were not permitted to use a computer program called Loan Economics which could discount loans.Docket Number:
Company: Wells Fargo
Filing Deadline: December 26, 2015
Class Period: May 1, 2002 to December 31, 2005
Exclusion Deadline: December 26, 2015Proof of Purchase:
If you received a notice through the mail, no action is required. If you did not receive a notice, submit a claim form with your social security number, loan number, and loan amount.Eligibility:
You may be eligible if you:
- Got a first trust deed-secured home loan from Wells Fargo for more than $150,000;
- Applied for the loan through a Wells Fargo branch located in the specified area; and
- Had your loan funded between May 1, 2002 and December, 2005.
TBD; total will be distributed equally among all loans included in the class.
Total Settlement Amount: $3,520,000 plus interestClass Representative Proposed Incentive Fee:
$10,000 plus interest
Cappello & Noel
Case Name: Jones v. Wells Fargo Bank, N.A.
Settlement Website: Wells Fargo Loan Economics Settlement Website
Wells Fargo Loan Economics Class Action
c/o Dahl Administration
P. O. Box 3614
Minneapolis, MN 55403-0614