If you had a Wells Fargo mortgage in California and received a CARES Act forbearance, you could be eligible for a share of a $56.85 million settlement — and you don’t need to file a claim. Here’s everything you need to know in one quick read.
Why This Lawsuit Exists?
Plaintiffs accused Wells Fargo of violating the federal Fair Credit Reporting Act (FCRA):
When homeowners paused mortgage payments under the CARES Act, Wells Fargo allegedly reported some accounts as “in forbearance” instead of “current.”
This may have hurt credit scores, even though homeowners were protected under the law.
Wells Fargo denies wrongdoing but agreed to settle for $56.85 million to resolve the claims.
Who Qualifies?
You may be eligible if all of the following apply:
You are a California resident.
You had a Wells Fargo mortgage on a property in California.
Your account was current when you received a CARES Act forbearance on or after March 27, 2020.
Wells Fargo reported your account as “in forbearance” (or similar) to a credit reporting agency.
No claim form is needed — eligible class members are automatically included.
How Much You Could Get?
Exact payments are TBD.
Payments depend on the number of participating class members and deductions for fees and expenses.
Checks are valid for 90 days after issuance.
Remaining funds may be redistributed or donated to Credit Builders Alliance if a second distribution isn’t feasible.
Your Options
| Option | What It Means | Deadline |
|---|---|---|
| Do Nothing | Receive automatic payment if eligible | N/A |
| Exclude Yourself | Opt out if you don’t want a payment or want to sue separately | March 25, 2026 |
| Object | Challenge the settlement terms in court | March 25, 2026 |
| Attend Final Hearing | Speak at the hearing before the judge | April 17, 2026 at 1:30 PM |
How to Get Your Payment?
Do nothing — eligible members are included automatically.
Watch your mail for a check.
Cash your check within 90 days.
For questions, to exclude yourself, or to object:
Mail: Wells Fargo CARES Act Mortgage Credit Reporting Class Action, c/o A.B. Data Ltd., P.O. Box 173008, Milwaukee, WI 53217
Email: [email protected]
Phone: 877-307-7268
Settlement Website: CaresActLitigation.com
