There are a good number of wells Fargo customers that have been cheated with the overpricing of their overdraft. It is important for a wells Fargo customer to know that they have till May 14th to opt of the all-important $142 million settlement. This is an interesting deadline that applies who had unauthorized accounts that were opened in their name and then have a notice indicating that they have till May 14th to opt.
As wells Fargo bank is busy repairing its image, you can join the Wells Fargo Class action Lawsuit overdraft.
In the month of April, the Wells Fargo bank faced some controversy and was sanctioned by federal authorities. In the month preceding, Wells Fargo agreed to pay up after being accused of failing to disclose details regarding the scandal with fake accounts to investors. According to an interesting class action lawsuit that was filed in the Federal court, it had its stock trading on artificially inflated prices.
As a Wells Fargo bank customer, if you believe that you were victimized by the incident that involved the creation of fake accounts, then go to wfsettlement.com to file claims or request to be exempt from the payment. It will take a while to get your payout however there are ways you can start now. In the course of this article, we would
This is how to Join the Wells Fargo Class Action Lawsuit Overdraft
Find out if you’re affected
There could be as many as 3.5 million credit cards, lines of credit, checking, or savings accounts that could have been without permission from the Wells Fargo bank customers. You may be eligible for restitution if, between May 1 2002 to April 20th, 2017, you:
- Had a new Wells Fargo bank account created without authorization.
- You had the application form for an account made under your name and without your authorization.
- If you were any way enrolled into the Wells Fargo identity theft protection services.
- If you’ve spoken to the federal government or the bank regarding your fake account, then there’s a high possibility that you’ll be included in the settlement of class actions.
Aren’t sure if you were automatically enrolled in the class action settlement? Contact the administrator of the settlement (1-866-431-8549). If you’re unsure whether an unauthorized account was established by you, contact Wells Fargo Account Servicing (1-800-869-3557).
If you’re not automatically an eligible class member then you must try to your rights and file it either online or via mail before July 7. it is important to note that the deadline that was originally set for February 3 — then was delayed to allow customers the chance to take part in the settlement.
If you Paid Fees That were associated with unauthorized Fake accounts
The Wells Fargo customer victims who have paid the fees for accounts that were not authorized might receive a flat rate fee refund or payment based on how much they were charged by the bank. If it is after your credit score, you might be compensated with a low-interest rate on a loan or credit card rate. Most customers suffered a high credit card and high interest rate with the period of the scam.
It would not be wise for you to expect your money immediately as members of the class action would not get any money until all the appeals are resolved in court.
Decide if you wish to leave or not
If you’ve faced hardships that are beyond what’s included in the settlement for class actions think about consulting with an attorney. For instance, since it’s not intended to compensate those who have been denied credit anyone who is in this situation may be better off suing the bank by themselves.
If you want to be exempt from the settlement, you won’t be able to receive any kind of compensation. You can also opt to remain a class member, and objecting to the conditions that the settlement has. The deadline for objecting to the settlement is the 14th of May (if you have received a notification informing you of this deadline). If you don’t do anything as long as Wells Fargo has no proof that you actually suffered harm you won’t be receiving any compensation.
Review your credit history
If you suspect that your credit score has been damaged, don’t delay (especially in the event that you plan to apply for a home mortgage or car loan). If you spot errors, you are able to dispute them online with any of the bureaus that give credit reports in America.
If your credit has been affected due to an account being created without your consent make a claim and confirm that you’re giving permission to an administrator of the settlement to look at your credit history.