Wells Fargo To Pay $94M To Settle Class Claims Over COVID-19 Forbearance Program

Mealey's (September 14, 2022, 12:28 PM EDT) -- COLUMBUS, Ohio — Wells Fargo Bank NA will pay $94 million to end a mortgage borrower class action alleging that the lender violated state and federal law by engaging in a scheme to place borrowers into a forbearance program during the COVID-19 pandemic, according to a motion for preliminary approval of the proposed settlement filed by the borrower on Sept. 9 in Ohio federal court....