By Craig Johnson, Clark.com
If you believe that Wells Fargo opened a fraudulent account in your name, you have until July 7, 2018, to file a claim for a piece of a large class action settlement. The bank announced the new date this week, superseding a February deadline.
The San Francisco-based bank is on the hook for a $142 million settlement after a scandal in which more than 2 million unauthorized accounts were opened from May 1, 2002, to April 20, 2017, in order to meet ambitious sales goals. In some cases, the bank even created fake email addresses connected to the accounts, as we previously reported.
Want to get a piece of Wells Fargo’s class action settlement? Better hurry
In March 2017, Wells Fargo copped to the caper, touching off a volley of lawsuits as well as a $185 million fine from regulators.
Last summer, U.S. District Judge Vince Chhabria gave preliminary approval to a payout plan after the bank simplified its opt-out and notification process. But compounding Well Fargo’s troubles, the bank found out during an internal audit that it failed to notify all eligible current and former customers about the money.
“The audit gives us confidence we’re now identifying all customers we believe may have been affected,” Wells Fargo spokesman Jim Seitz said, according to the Los Angeles Times.
This is part of the letter the bank sent customers on Tuesday:
Here’s how to file a Wells Fargo class action settlement claim
- Visit the Wells Fargo claims website at wfsettlement.com to mail your claim form, address it to Wells Fargo Unauthorized Accounts Settlement P.O. Box 2594, Faribault, MN 55021-9594.
- If you choose to go online, you can enter your information (either D.O.B., email address or the last four digits of your SSN) starting with your Claimant ID Number. If you don’t have that, follow the instructions to contact a claims representative.
Wells Fargo has not said how many refunds it intends to process nor how long it will take for the money to reach those affected.