Wells Fargo Inspection Fee Settlement
Overview of The Settlement
Young v. Wells Fargo & Co., Case No. 4:08-CV-507 RP-CFB
SETTLEMENT UPDATE: JANUARY 5, 2017
A Settlement was reached in a class action lawsuit against Wells Fargo & Co. and Wells Fargo Bank, N.A. (collectively, “Wells Fargo”). However, appeals have been filed and are still pending. The United States Court of Appeals for the Eighth Circuit has scheduled an oral argument for January 10, 2017, on three of the five appeals from the District Court’s Order approving the Settlement and awarding attorneys' fees and expenses. The remaining two appeals have been designated as NO ARGUMENT and will be submitted on the briefs and record without oral argument.
It is always uncertain whether these appeals can be resolved favorably, and there is no timeline for how long it may take for a resolution. Until the appeals have been resolved, no payments can be made under the terms of the Settlement. This website will keep you informed of the progress
The lawsuit claims that Wells Fargo improperly ordered a property inspection whenever a borrower fell behind on mortgage payments by forty-five days or more, and then ordered subsequent inspections every twenty-five to thirty-five days for as long as the borrower remained delinquent. This proposed Settlement settles certain claims on behalf of all Persons who have or had a mortgage serviced by Wells Fargo and owe or paid a property inspection fee assessed during the period August 1, 2004 through December 31, 2013, inclusive.
What Are My Options?
- REMAIN A MEMBER OF THE CLASS. Some people will automatically receive a cash award. Others must have submitted a claim with supporting documentation, postmarked by March 16, 2016. These categories are further described in the Notice. If you stay in the Class, you give up the right to sue Wells Fargo separately and will be bound by the Settlement Terms.
- EXCLUDE YOURSELF FROM THE CLASS. The deadline to exclude yourself from the Settlement was December 22, 2015.
- OBJECT TO THE SETTLEMENT. The deadline to object to the Settlement was December 22, 2015.
Please consult the Notice for more details on your options.
Pursuant to the Settlement Fairness Hearing held on January 21, 2016, the Court approved the Settlement, however appeals have been filed.
December 22, 2015(Expired)
Deadline to submit an Exclusion Request
December 22, 2015(Expired)
Deadline to object to the Settlement
January 21, 2016 at 10:00 a.m.(Approved)
Settlement Fairness Hearing
March 16, 2016(Expired)
Deadline to submit a Claim Form
To find out details regarding the Settlement,
please read the Notice.