Wells Fargo Agrees to $19.5M Payout—Find Out If You Qualify

Wells Fargo has agreed to a $19.5 million class action settlement following allegations that it unlawfully recorded phone calls without obtaining consent. The lawsuit, filed under the California Invasion of Privacy Act (CIPA), claims that Wells Fargo, along with Priority Technology Holdings Inc. and The Credit Wholesale Co. Inc., recorded phone conversations without informing the recipients.

While the companies deny any wrongdoing, they have agreed to settle the claims to resolve the legal dispute. Here’s what affected individuals need to know about eligibility, compensation, and the claim submission process.

Overview of the Wells Fargo Settlement

The lawsuit focuses on the alleged illegal recording of phone calls with California residents and businesses. Under California law, all participants in a phone call must be informed when a conversation is being recorded. The plaintiffs claim that Wells Fargo and its associates violated this privacy right by failing to notify call recipients immediately.

Settlement Details

Company Involved	Wells Fargo
Country	USA
Year	2025
Settlement Amount	$19.5 million
Call Period	October 22, 2014 – November 17, 2023
Category	Privacy Violation
Official Website	Wells Fargo

Companies Involved in the Lawsuit

The lawsuit names three companies as defendants:

• Wells Fargo Bank – The primary entity accused of recording calls without permission.
• Priority Technology Holdings Inc. – A payment processing company allegedly involved in the calls.
• The Credit Wholesale Co. Inc. – A sales company accused of calling California residents and businesses without informing them that the conversations were recorded.

Compensation for Affected Individuals and Businesses

Individuals who received calls from The Credit Wholesale Co. Inc. during the specified period may be eligible for compensation.

Settlement Payout Structure

• Maximum claim value: Up to $5,000 per claimant.
• Per-call compensation: $86 per call.
• Multiple calls: Those who received several calls may qualify for a higher payout depending on the number of calls they can verify.

Eligibility Criteria for Filing a Claim

To qualify for compensation, claimants must meet the following conditions:

Physically present in California when the call was received.
Received a call from The Credit Wholesale Co. Inc. between October 22, 2014, and November 17, 2023.
Did not consent to the call being recorded.

Required Documentation

• Phone number or business name used during the call.
• If a settlement notice was received, Claim ID and PIN Code must be submitted.
• If expecting a payout over $600, a W-9 tax form must be completed and submitted.

Key Deadlines & Payment Timeline

Event	Deadline
Objection & Exclusion Deadline	April 4, 2025
Claim Submission Deadline	April 11, 2025
Final Approval Hearing	May 20, 2025
Payment Distribution Begins	Around July 2025 (52 days after court approval)

Steps to Submit a Claim

To receive compensation, eligible individuals must follow these steps:

1. Visit the Official Settlement Website – Claimants must go to the Wells Fargo Settlement page to begin the process.
2. Complete the Online Claim Form – Provide a phone number or business details, and if applicable, the Claim ID and PIN Code.
3. Submit the Claim Before the Deadline – The deadline to submit claims is April 11, 2025.
4. Mail-in Claims Option – Those who prefer can mail their claim forms before the deadline.
5. Await Final Approval & Payment – Payments are expected to be distributed around July 2025.

Objections & Exclusions

Individuals who do not want to participate in the settlement can object or opt out by April 4, 2025. Those who object may still be eligible for compensation if they remain in the lawsuit. Those who opt out will not receive any payout but retain the right to file separate legal action.

Wells Fargo’s final approval hearing is set for May 20, 2025. If the court approves the settlement, payments will be sent out around July 2025.

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