A major breakthrough is arriving for Californians who interacted with Wells Fargo over the past decade, as a new $19.5 million class action settlement begins delivering payouts in August 2025. This action focuses on Wells Fargo and its vendor, The Credit Wholesale Co. Inc., and accusations of illegally recording calls without notifying recipients a violation of California’s strict privacy laws.
| Settlement Detail | Key Information |
|---|---|
| Settlement Name | Wells Fargo Class Action Settlement |
| Settlement Amount | $19.5 million |
| Eligible Period | Oct 22, 2014 – Nov 17, 2023 |
| Eligible Participants | Residents/businesses in CA who received any call |
| Payment Date | August 2025 |
| Payment Per Call | $86 (capped at $5,000 per person) |
| Official Portal | wellsfargosecuritiesclassaction.com |
How the Call Recording Lawsuit Unfolded
This settlement resolves claims that Wells Fargo, via its third-party vendor, secretly recorded thousands of phone calls to California residents and businesses from 2014 to 2023 without prior notice, violating the California Invasion of Privacy Act (CIPA). While neither company admitted wrongdoing, they agreed to compensate affected parties to avoid prolonged litigation and restore consumer trust.
Eligibility Requirements
To participate, you must have either lived in California or run a California business and received at least one call from The Credit Wholesale Co. Inc. representing Wells Fargo during the qualifying period. Even non-customers who received these calls are included. Importantly, if you have received multiple recorded calls, your compensation grows $86 per call, up to a $5,000 maximum.
How Individual Payouts are Calculated
- 1-5 recorded calls: $86-$430
- 20 recorded calls: about $1,720
- Over 60 recorded calls: capped at $5,000
The exact payment you receive depends on how many valid calls you can show from the settlement period.
What You Need To Do
Most eligible Californians do not need to do anything to receive their payout, as qualifying individuals are automatically identified and will receive payments in their bank accounts. However, to ensure you are covered and avoid missed compensation:
- Check your mail and bank statements for confirmation of payment.
- If you filed a claim listing your phone number or business, log in to the settlement website to monitor its status.
- If you believe you qualify but have not received payment, contact the official administrator or settlement portal.
Submitting and Tracking Your Claim
For those who received relevant calls and wish to file or track a claim:
- Visit wellsfargosecuritiesclassaction.com and enter your details, particularly the phone numbers that received calls.
- All valid claims must be submitted by April 11, 2025.
- No need for additional documentation, just the phone number in question.
Fraud Alerts and Safe Claiming Practices
Stay vigilant: Only use the official portal for claims. Do not respond to emails or phone messages requesting sensitive information or fees these are scams. The settlement administrator will never ask for bank login credentials.
Why This Settlement Matters for Consumer Privacy
Beyond monetary relief, this case exemplifies the growing national focus on informed consent and privacy protections in an age of rapid technological change and aggressive telemarketing. The $86 per-call payout is notable, especially for individuals who fielded many calls, reinforcing accountability for corporate giants.
Wells Fargo’s Track Record and Consumer Rights
Although Wells Fargo maintains it did nothing wrong, this settlement adds to a list of high-profile actions the bank has faced for privacy and consumer violations. It reaffirms California’s robust protections around call recording and consumer notice, offering direct compensation to those whose privacy was compromised and serving as a warning for future industry practices.
Your Action Plan for August 2025
If you’re a California resident or business who received calls from Wells Fargo’s vendor during the specified dates, watch for your payment in August. If unsure about your status or missing payment, visit the official portal to claim or track your settlement. This payout not only remedies financial harm but also strengthens the principle that your privacy cannot be traded away.