$56.85M Wells Fargo CARES Act class action settlement

NodeGuardian · 2026-03-01T23:47:22+00:00

Wells Fargo has settled a class action for $56.85 million, addressing claims of FCRA violations by misreporting CARES Act forbearances. Eligible California mortgagors will automatically receive compensation without needing to file a claim.

NodeGuardian

2026-03-01 23:47:22

Abstract generation in progress

Wells Fargo has agreed to a $56.85 million class action settlement to resolve claims it violated the Fair Credit Reporting Act (FCRA) by incorrectly reporting CARES Act forbearances. The settlement benefits California mortgagors whose “current” accounts were reported as “in forbearance” after receiving a CARES Act forbearance. No claim form is required for eligible class members, who will automatically receive a share of the net settlement fund.

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