April 4, 2024 | By Matthew Kellogg
A client of McCathern Los Angeles attorneys Evan Selik and Christine Zaouk recently received Court approval on a class action settlement from Wells Fargo, the fourth-largest bank in the United States. The lawsuit is Wells Fargo Bank, N.A. v. Agak, Case No. 56-2017-00500587-CL-CL-VTA.
McCathern client and class representative George Agak had entered into a consumer credit agreement with Wells Fargo. The credit card agreement stated certain fees that would be charged each month as part of payment of the credit card. If any other fees were to be charged, Mr. Agak and Wells Fargo would have to separately expressly agree to those charges.
As it happened, Mr. Agak saw that he was being charged for an additional credit defense fee each month. This fee was not one of those that was agreed to via the credit card agreement or separately agreed to by Mr. Agak. While investigating further, Evan and Christine found that this credit defense fee was being charged as part of a credit defense program that Wells Fargo had applied to many credit card holders in California without their express written consent.
Wells Fargo’s credit card customers in California who were charged a credit defense fee at any time from March 1, 2015 through December 31, 2018 will receive money from the class action settlement.
“We turned what was an overdue credit card bill into a class action against Wells Fargo’s unsavory fee tactics,” Evan said. “The credit defense program has now been discontinued and Wells Fargo, through this settlement, is now reimbursing over 190,000 California consumers their money back.”
To learn more about this class action settlement, please visit: cdpsettlement.com