www.HELOCsettlement.com – Wells Fargo HELOC Lawsuit

 

The Wells Fargo HELOC Class Action Lawsuit is styled Marika Hamilton v. Wells Fargo Bank, N.A (Case Number 4:09-CV-04152 CW) and is in the jurisdiction of the UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF CALIFORNIA.  The lawsuit claims that Wells Fargo wrongly suspended customers HELOC’s based upon erroneous information about the customer’s home value and financial situation.  Wells Fargo denies all wrong doing in the case but has agreed to terms in order to avoid costly court cost.  The settlement terms depend on which settlement class you fall into but you could be eligible for a $150 cash award.   A settlement fairness hearing will be held on 04-26-12 to determine if the settlement is fair and adequate.  The hearing will be held at the United States Courthouse, Courtroom 2 – 4 Floor, 1301 Clay Street, Oakland, California 94612.  You must file a claim form no later than 06-25-12 or your claim will be rejected.

If Wells Fargo suspended or reduced your Home Equity Line of Credit you might be considered a class member of the Wells Fargo HELOC Lawsuit.  The deadline to exclude or object to the lawsuit is 04-05-12.  The settlement agreement, the preliminary approval order and the class action complaint can all be found at the class administrators web portal.  A total of three classes can be found in this lawsuit:  Financial Circumstances Class, Property Value Class and the Former Customer Class.  Please do not call or mail Wells Fargo Bank, N.A or the Court  about this lawsuit.  If you do they will refer you to the web portal or by mail at HELOC Claims Administrator, P.O. Box 2661, Faribault, MN 55021-9661.

www.helocsettlement.com