Final Approval Granted in $28M Wells Fargo Settlement for Secret Recordings

On December 6, 2021, U.S. District Judge Rebecca Pallmeyer granted final approval of a class action settlement reached between consumers and defendants Wells Fargo Bank NA and First Data Merchant Services LLC. The settlement is valued at $28 million and includes settlement payments of up to $5,000 to eligible class members. 

The settlement seeks to resolve allegations that certain banks including Wells Fargo Bank NA paid telemarketers to call businesses across the U.S. and sell credit and debit card processing services. The businesses alleged that the telemarketers failed to inform them that the calls were being recorded. 

The settlement is a historic victory for consumers, representing one of the largest—if not the largest—settlement obtained under the California Invasion of Privacy Act. Judge Pallmeyer was particularly pleased with the settlement, finding that approval was supported by the fact that no class member opposed the deal. She also had no concern over the anticipated relief to settlement class members. The settlement also represents an end to the hard-fought litigation between the parties. 

The case is Wang, et al. v. Wells Fargo Bank NA et al., No. 1:16-cv-11223, filed in the U.S. District Court for the Northern District of Illinois. 

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