Wells Fargo $19.5M Settlement: If you or your business received calls from The Credit Wholesale Co. Inc. between October 22, 2014, and November 17, 2023, you may be entitled to a cash payment of up to $5,000 as part of a $19.5 million class action settlement against Wells Fargo. The lawsuit alleges that calls were recorded without consent, violating California privacy laws.
What Is the Wells Fargo Call Recording Settlement About?
The lawsuit claims that Wells Fargo, Priority Technology Holdings Inc., and The Credit Wholesale Co. Inc. recorded calls with California residents and businesses without their explicit consent, violating the California Invasion of Privacy Act (CIPA).
Key Allegations:
- Calls were recorded without the recipient’s knowledge or consent
- California law considers phone conversations confidential
- Wells Fargo and its partners allegedly failed to disclose call recordings upfront
Who Was Involved?
- Wells Fargo Bank N.A.
- Priority Technology Holdings Inc.
- The Credit Wholesale Co. Inc. (company responsible for the calls)
Although Wells Fargo and the other defendants deny any wrongdoing, they have agreed to the $19.5 million settlement to resolve the claims.
How Much Can You Claim?
Each eligible class member can receive $86 per call, with a maximum payout of $5,000.
| Number of Calls Received | Estimated Payment |
|---|---|
| 1 call | $86 |
| 10 calls | $860 |
| 20+ calls | Up to $5,000 |
Eligibility: Who Can File a Claim?
To qualify for a payout, you must meet the following criteria:
- You or your business received a call from The Credit Wholesale Co. Inc. between October 22, 2014, and November 17, 2023
- You were in California at the time of the call
- You did not give consent for the call to be recorded
You will need to provide:
- Your phone number or business name used during the calls
- Claim ID and PIN Code (if you received a settlement notice)
If your payment exceeds $600, you must submit a W-9 tax form with your claim.
How to File a Claim for the Wells Fargo Settlement
Step 1: Visit the Settlement Website
Go to the official settlement website provided in your notice.
Step 2: Complete the Claim Form
- Enter your phone number or business name
- If you received a settlement notice, provide your Claim ID and PIN Code
Step 3: Submit Your Claim Before April 11, 2025
- Claims must be submitted online or by mail before the deadline
- If your payout exceeds $600, attach a W-9 tax form
Key Deadlines & Payment Timeline
| Event | Date |
|---|---|
| Objection & Exclusion Deadline | April 4, 2025 |
| Claim Submission Deadline | April 11, 2025 |
| Final Approval Hearing | May 20, 2025 |
| Payment Distribution Begins | Around July 2025 |
After the final approval hearing on May 20, 2025, payments will be issued approximately 52 days later, meaning eligible claimants should receive checks around July 2025.
Additional Settlement Terms
Besides the settlement payments, The Credit Wholesale Co. Inc. has agreed to stop recording appointment-setting calls with California businesses without proper disclosure.
Breakdown of the Settlement Fund:
- Remaining funds distributed to class members
- Attorney Fees & Legal Costs: Up to $6.5 million
- Settlement Notices & Administration Costs: Capped at $200,000
- Class Representative Incentive Awards: $7,500 each
