Welcome to the Informational Website for the Wells Fargo CPI Class Action Settlement.
Under the Settlement(PDF), Defendants are distributing at least $393.5 million to Class Members pursuant to an Allocation Plan(PDF) and Distribution Plan(PDF). Allocation Plan(PDF) payments are being issued and mailed directly by Wells Fargo on a rolling basis. Please visit their website for more information about Allocation Plan payments.
Settlement Class Members who did not receive a payment under the Allocation Plan(PDF) are eligible to receive a pro rata distribution under the Distribution Plan if they had one or more CPI Policies placed on their account which remained in effect without reversal. Mailing of Distribution Plan(PDF) checks has begun and these checks will continue to be mailed on a rolling basis throughout July, 2020. Eligible Class Members should receive their checks by mid-August. You did not need to submit a claim to receive a Distribution Plan payment and Distribution Plan checks are being mailed automatically to all eligible customers.
This settlement resolves a lawsuit against Wells Fargo Bank, N.A., Wells Fargo & Co., National General Holdings Corp. and National General Insurance Company (collectively, “Defendants”) alleging that between October 15, 2005 and September 30, 2016, Defendants unlawfully placed collateral protection insurance (“CPI”) policies on Class Members’ automobile loan accounts. On November 20, 2019, the Court granted final approval(PDF) of this class action settlement(PDF) (dated November 4, 2019) and issued a Final Judgment(PDF). The settlement is no longer subject to appeal because the period for appeals has passed.
Please contact us if you have questions about the class action settlement at 1-877-641-8815 or by emailing info@WellsFargoCPISettlement.com.