SAN
DIEGO, July 2, 2024 /PRNewswire/ --
There is a class action lawsuit against Wells Fargo Bank, N.A.
("Wells Fargo") that claims Wells Fargo violated the California
Consumer Credit Reporting Agencies Act ("CCRAA"), at Cal. Civ. Code
ยง 1785.25(a), by furnishing information to a consumer credit
reporting agency when it knew or should have known the information
was incomplete or inaccurate. More specifically, the lawsuit claims
that Wells Fargo, as part of its COVID-19 credit reporting,
unlawfully furnished information to the credit bureaus indicating
that consumers with current Wells Fargo mortgages were in
forbearance. Wells Fargo denies
the allegations and claims, denies that it furnished inaccurate or
incomplete information, and contends that neither plaintiff nor
Class Members have incurred any damages.
Why are individuals being contacted? The Court
certified the lawsuit as a class action and appointed plaintiff
Michael Stoff as the class
representative. The Class is defined as: "All mortgagees with a
mortgage in California whose
accounts were current, who received a CARES Act forbearance on or
after March 27, 2020 and whose
account was reported as 'in forbearance' (or something similar) by
Defendant to a consumer reporting agency." Mortgagors that meet the
Class Definition may have legal rights and options and must decide
whether to remain part of this lawsuit. No decision has been made
on the merits of plaintiff's claims. A trial will decide whether
Wells Fargo violated the CCRAA and, if so, the amount of any
damages to be awarded.
Will Class Members receive
money or benefits? No money or benefits have been recovered to
date, and there is no guarantee that there will be in the future.
However, the Court did grant a motion certifying the above Class,
and Class Members have a choice to make now.
What are the options? Do Nothing. Class Members can
do nothing and await the outcome of the lawsuit. They will remain
in the Class and keep the possibility of getting money or benefits
from a trial or settlement. If money or benefits are awarded, Class
Members will be notified. But, they give up any rights to sue Wells
Fargo individually and seek damages for the credit reporting at
issue. If Wells Fargo wins at trial, Class Members recover nothing
and will lose their claim. Request Exclusion. Class Members can ask
to be removed from this lawsuit. If they do so, and money or
benefits are awarded later in this case, they will not receive any
portion. But, they will keep any rights they may have to sue Wells
Fargo themselves.
How to request exclusion? Class Members must send a
"Request for Exclusion" by U.S. mail stating that they want to be
excluded. They must include their name, address, and phone number,
and sign the request. The request for exclusion must be mailed and
postmarked by July 31, 2024,
to Wells Fargo CARES Act Mortgage Credit Reporting Class Action,
c/o A.B. Data, Ltd., ATTN: Exclusions, P.O. Box 173001,
Milwaukee, WI 53217. Opt-out
instructions are also on the website:
www.CaresActLitigation.com.
Do Class Members have a lawyer? Yes. The Court has
appointed Russell S. Thompson, IV
(Thompson Consumer Law Group, PC and Andrew
J. Brown (Law Offices of Andrew J.
Brown) to represent the Class Members as "Class Counsel."
Class Members will not be charged by these lawyers. Members of the
Class can hire their own lawyer to make an appearance in the
lawsuit, but They'll need to pay their own legal fees.
More Information? For additional information, visit the
website, www.CaresActLitigation.com. There Class
Members will find important documents, including the Court's
Orders. They can also contact the Notice Administrator by:
- Email at: info@CaresActLitigation.com
- Mail to:
Wells Fargo CARES Act Mortgage Credit Reporting
Class Action
c/o A.B. Data, Ltd.
P.O. Box 173008
Milwaukee, WI 53217
or
- Toll-free at: 1-877-307-7268
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content:https://www.prnewswire.com/news-releases/thompson-consumer-law-group-pc-and-law-offices-of-andrew-j-brown-announce-a-class-action-lawsuit-that-may-affect-those-with-a-mortgage-in-california-who-had-a-current-account-received-a-cares-act-forbearance-and-whose-account--302187219.html
SOURCE Thompson Consumer Law Group, P.C. and Law Offices of
Andrew J. Brown