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.
The plaintiff in this lawsuit alleges that Wells Fargo violated the Truth in Lending Act by issuing payoff statements that did not credit or disclose property insurance claim funds held by Wells Fargo and which were potentially available to be applied to her account balance.Docket Number:
Company: Wells Fargo
Class Period: January 18, 2017
Objection Deadline: February 9, 2017
Exclusion Deadline: February 9, 2017
Final Approval Hearing: March 9, 2017Proof of Purchase: Eligibility:
There are two classes of settlements in this class action settlement. The "Damages Class" includes all borrowers with mortgages serviced and owned by Wells Fargo who, between June 23, 2014, and June 23, 2015, have received payoff statements which failed to disclose property insurance claim funds. The "Declaratory Relief Class" includes all borrowers with mortgages serviced and owned by Wells Fargo wherein Wells Fargo was holding insurance proceeds on June 22, 2016.
No claim form needs to be filled out. Eligible individuals who do not opt out of the settlement will automatically receive payment.Typical Settlement Amount:
Members of the Damages Class will receive a pro rata share of the total settlement amount based on how many people file valid claims. These shares are expected to be $2,500. Members of both classes will benefit from Wells Fargo changing its practices.
Total Settlement Amount: $880,000Class Representative Proposed Incentive Fee:
Wolf Popper LLP
Case Name: McLaughlin v. Wells Fargo Bank NA
Settlement Website: McLaughlin v. Wells Fargo Bank NA
Garden City Group
MCLAUGHLIN v. WELLS FARGO CLASS ACTION
c/o Garden City Group
P.O. Box 10315
Dublin, OH 43017-3915