A major US bank and its affiliates are preparing to hand millions of dollars to customers in a new class action settlement.
Wells Fargo customers are expected to receive checks worth up to $5,000 this month.
The payments will go to customers in California, stemming from a $19.5 million settlement approved in May.
The class action lawsuit accused The Credit Wholesale Company, Inc. – a vendor for Wells Fargo and Priority Technology Holdings – of recording phone calls to California residents without consent.
The recordings allegedly violated the California Invasion of Privacy Act, and no wrongdoing was admitted in the settlement.
Eligible recipients include California individuals and businesses who received calls from Credit Wholesale between October 22nd, 2014, and November 17th, 2023.
Valid claims entitle claimants to payments on a per call basis, with each call yielding about $86.
Payments will be automatically sent to approved claimants.
The settlement also requires Credit Wholesale to disclose future recordings at the beginning of each phone call.
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