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Wells Fargo Inspection Fee Lawsuit

• Provides information on the Young v. Wells Fargo Class Action Settlement
• Case No. 4:08-CV-507 RP-CFB
• Case is being adjudicated in the United States District Court for the Southern District of Iowa Central Division

The lawsuit mentioned above involves allegations that Wells Fargo & Co. and Wells Fargo Bank (collectively “Wells Fargo”) illegally ordered site inspections on mortgage holders who fell behind on their payments. Specifically, Plaintiffs allege that Wells Fargo ordered inspections every 25 to 35 days as long as the borrower remained behind on payments, and that they were then charged inspection fees on subsequent billing. Were this to be proved in court, it would be illegal. This Class Action Lawsuit concerns anyone who has had a mortgage serviced by Wells Fargo and were forced to pay inspection fees during certain time periods.

Dates and details regarding the Wells Fargo Inspection Fee Lawsuit

• The Settlement Class involves anyone who paid a property inspection fee to Wells Fargo between 8/1/04 and 12/31/13
• Those who wish to bring a separate lawsuit against Wells Fargo can choose to exclude themselves from the Class
• Deadline for exclusion is 12/22/15
• All objections must be filed by (12/22/15)
• A settlement hearing will be held on 1/21/16 in the Southern District of Iowa Central Division U.S. District Courthouse before the honorable Judge Robert W. Pratt

Wells Fargo and the Plaintiffs have agreed to the settlement to avoid the cost of a trial. The total monetary value of the settlement fund is $25,750,000. $22,500,00 of this will be a cash settlement, while the remaining $3,250,000 will cover the costs of administration and sending notice. The settlement fund will be distributed among all eligible Class Members.

Contacting the Wells Fargo Inspection Fee Lawsuit

• Wells Fargo Inspection Fee Settlement, c/o Garden City Group, LLC P.O. Box 10106, Dublin, OH 43017-3106, Phone: (855) 382-6434

Sources

1. www.WellsFargoPropertyInspectionSettlement.com