Perez, et al. v. Wells Fargo Bank, N.A.
Wells Fargo DACA Settlements
Case No. 3:17-cv-00454-MMC

WELCOME TO THE PEREZ, ET AL. V. WELLS FARGO BANK, N.A. SETTLEMENT WEBSITE

IF YOU HAD DEFERRED ACTION FOR CHILDHOOD ARRIVALS (“DACA”) AT THE TIME YOU APPLIED FOR AND WERE DENIED A CREDIT CARD, STUDENT LOAN, SMALL BUSINESS LOAN, PERSONAL LOAN, OR HOME MORTGAGE FROM WELLS FARGO, YOU COULD GET ONE OR MORE CASH PAYMENTS FROM THIS CLASS ACTION SETTLEMENT.

What is this lawsuit about?

The lawsuit claims that Wells Fargo unlawfully discriminated against DACA recipients by making them ineligible for student loans, unsecured credit cards, unsecured personal loans, secured and unsecured small business loans, and mortgages. This settlement obtained different relief for people who lived in California and applied for a student loan, unsecured credit card, unsecured personal loan, or home mortgage at the time their application was denied (the “California Class”) and everyone else (the “Nationwide Class”), due to the different protections available under California and federal laws.

Wells Fargo denies Plaintiff’s claims and maintains that its policies complied with the law.

In connection with this settlement, Wells Fargo has agreed to change its lending policies to make DACA recipients eligible for credit and loans and to make cash payments to members of the California Class and the Nationwide Class.

Who is included?

You are a member of the Nationwide Class if you resided in anywhere in the United States other than California as noted in Wells Fargo’s records and had valid, unexpired DACA status at the time you applied to and were denied at least one unsecured credit card, secured or unsecured small business loan, student loan, or unsecured personal loan between January 30, 2015 and August 21, 2020, or for home mortgage, between January 29, 2018 and August 21, 2020.

You are a member of the California Class if you resided in California as noted in Wells Fargo’s records and had valid, unexpired DACA status at the time you applied to and were denied at least one unsecured credit card, student loan, or unsecured personal loan between January 30, 2015 and August 21, 2020, or for home mortgage, between January 29, 2018 and August 21, 2020.

If you do not have DACA now and did not have DACA in the past, you are not a Class Member, and your rights are not affected by this settlement.

What does the Settlement provide?

The Settlement provides cash payments and changes to Wells Fargo’s lending policies. First, Wells Fargo has agreed to change its lending policies so that DACA recipients are eligible for student loans, unsecured credit cards, unsecured personal loans, secured and unsecured small business loans, and home mortgages on the same terms and conditions as those loans and credit are offered to U.S. citizens and permanent residents as long as there is an appropriate product. In other words, Wells Fargo will not consider whether an applicant has DACA in deciding whether to offer credit.

Second, Wells Fargo has agreed to make cash payments to Class Members who timely submit a Verified Claim Form. The number of cash payments will be based on each Class Member’s number of applications and denials in the relevant time periods for the types of loans and credit described above that are contained in Wells Fargo’s credit application databases.

YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT

ACTION EXPLANATION
SUBMIT A CLAIM This is the only way to receive a payment in this Settlement.  You will need to provide official documentation of you valid DACA status at the time of your denied application. Claim Forms must be submitted online or postmarked by November 24, 2020.
EXCLUDE YOURSELF If you exclude yourself from the settlement, you will receive no payment and you cannot object to the settlement. Your exclusion request must be postmarked no later than November 24, 2020.
OBJECT You may write to the Court about why you believe the settlement is not fair or reasonable. You must send a written objection postmarked no later than  November 24, 2020.
GO TO A HEARING You must object in writing in order to appear at the Fairness Hearing to speak to the Court about the fairness of the settlement. The Final Fairness Hearing is scheduled for January 8, 2021.
DO NOTHING If you do nothing you will not receive any payment and will not be able to sue Wells Fargo separately about these legal claims.

 

For More Information

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Mail

Perez v. Wells Fargo Bank
c/o JND Legal Administration
P.O. Box 91378
Seattle, WA 98111