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Wells Fargo Customers’ Damages May be Far Greater Than What is Offered in CPI Class Action Settlement

Posted by David Humphreys | Aug 26, 2019 | 4 Comments

Are you one of those Wells Fargo customers who had their lives turned upside down when Wells Fargo wrongfully repo'ed your vehicle several years ago?

Did Wells Fargo force you to pay hundreds if not thousands of dollars to just get your vehicle back after it fraudulently repossessed it, in part because Wells Fargo claimed you had not purchased auto insurance?

If you didn't have the money Wells Fargo demanded, were you left without transportation?  Did you lose your job, your home, your life as you knew it?

A class action against Wells Fargo recently received preliminary court approval for a class wide settlement of customers' claims against Wells Fargo for wrongfully forcing customers to buy auto insurance.   The class action may be well intended, but the compensation offered to some customers may be far below what is reasonable for the harm Wells Fargo inflicted.  If you do nothing, your claims against Wells Fargo will be released and you will be stuck with accepting the amount of money the class action settlement decides to distribute to you.  You have rights, but you must act if you want to hold Wells Fargo accountable for all of the damages the bank inflicted upon you.

Class action notices are being sent out now.  Carefully read the notice you receive.  You need to evaluate whether the amount of money the class action offers you is fair compensation.  If you believe your damages are far greater than what the class action offers you and you want to pursue your claims in a separate lawsuit, you must “opt out” of the class action.  You must follow the directions exactly. The Notice you receive will tell you what you must do to “opt out”. Make sure you keep good records to prove that you did in fact do what was required in order to “opt out” of the settlement and seek to recover all you lost.

If you need help evaluating your options, the consumer protection law firm Humphreys Wallace Humphreys P.C. stands ready to visit with you to discuss your options. Click HERE for a free case review.

About the Author

David Humphreys

David Humphreys has been practicing law since 1987. He was a member of the first class (1994) of the Gerry Spence Trial Lawyers College, Dubois, Wyoming. He was recognized in 2004 by the college, along with his partner, Luke Wallace, as the Warriors of the Year for the 18-state South Central regi...

Comments

Chris Gobin Reply

Posted Jun 25, 2020 at 09:51:56

I received a token payment from WF of around $4000. I have a hard time believing this is adequate for ruining my credit for 8 years and repoing my car and dragging it 75 miles away without any notice. Went down to go to work and my car was gone. When they took it I was working and earning $50,000+ a year. Now they’ve corrected things a bit with my credit rating, it’s too little, too late. I retired since they decided to come clean. I now live on SSI of under $1500 a month. So even with their so called corrections I now have no buying power, no chance to get a retirement trailer even. So forget about a new car. At the time I had a brother who was schiziphrenic with cancer who was dependent on me for everything which WF put on hold for a while. Forcing me with my trashed credit to biy a car at a buy here pay here establishment. So if you want to know how I feel now about WF, I will hate then with my entire being as long ad I draw breath now and forever and pray every day that God takes revenge on every member of that establishment..I mean if you asked anyone working there from the mail room clerk to the fat greedy pigs at the top, what would you charge someone who ruined your credit and life for 8 years? I guanantee you it wouldn’t be $4000..especially their fat cats…but of course we have to realize that their time of life is mire valuable than those they screwed…

David Humphreys Reply

Posted Jul 15, 2020 at 20:16:56

yes. we understand. We are living in a rigged game. the banks have way too much control over the lives of all of us!

Anthony Volo Reply

Posted Jul 29, 2020 at 05:00:32

Im one of those too .I thought my insurance wasn’t enough so I got rid of my insurance and stated paying theres .I thought maybe my driving record was bad or my truck was to big so that’s why I piad theres and my insurance but things got out of hand I lived alone couldn’t pay both lost my truck I owed 2k on got it back bye paying 4 k taking out a loan I just got a 13 dollar check there will be a waterfall of retaliation thanks in advance

David Humphreys Reply

Posted Sep 24, 2020 at 09:44:14

I hope you opted out of the class action settlement. It is too late to do so now. If you did opt out, you can call us or fill out the Free Case Review tab on our website or blog. Thanks for commenting!

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