Product: Mortgage

Wells Fargo in {$94.00} mln settlement over mortgage forbearance during pandemic XX/XX/XXXX ( XXXX XXXX XXXX Wells Fargo & Co ( WFC.N ), opens new tab has reached a {$94.00} XXXX settlement to resolve class-action claims it sent more than XXXX struggling mortgage borrowers into forbearance during the COVID-19 pandemic without their consent. 
The proposed settlement was filed last week in the federal court in XXXX, Ohio, and requires a judge 's approval. 

Wells Fargo COVID Forbearance Settlement Litigation 1. How was my payment amount determined? 
Under the Settlement, Wells Fargo has agreed to establish a Settlement Fund totaling {$180.00} XXXX ( {>= $1,000,000} ) to provide the following benefits as consideration for the resolution and release of the Class Members ' claims : o The first {$89.00} XXXX ( {>= $1,000,000} ) will be distributed equally as Automatic Payments to Class Members who did not exclude themselves from the Settlement, pro rata based upon the number of mortgages placed into an At-Issue Forbearance. Class Members who are coborrowers on a Mortgage that received an At-Issue Forbearance will be treated as a single Class Member for the purposes of receiving an Automatic Payment ; and o In addition to the Automatic Payment, each Co-Borrower on a Mortgage that received an At-Issue Forbearance, and who did not exclude themself from the Settlement, will receive an additional {$83.00} automatically ( " Co-Borrower Payment '' ). The Co-Borrower Payment ( s ) shall be included in the Automatic Payment check distributed for the associated mortgage account.

2. When will I receive payment for my filed claim?

Supplemental claims are currently being processed. There will be a separate check payment mailed to you, if your supplemental claim is approved. Cashing your Automatic Payment check has no impact on your claims review or potential award.

3. What is the status of my supplemental claim?

Your supplemental claim is being processed. If there is any additional information and/or supporting documentation required to process your claim, you will receive a Defect Letter notifying you of the needed updates before a decision of approval or denial is made.

4. What is this lawsuit about?

In the earliest days of the COVID-19 pandemic, when many customers were expressing concern about financial hardship and their ability to make their next mortgage payment, Wells Fargo made a decision to provide mortgage forbearances to certain customers who had made an inquiry or expressed hardship but had not explicitly requested a forbearance. A forbearance temporarily suspends a customer 's obligation to make payments on their mortgage. However, some of the customers who received payment forbearances did not want them. 
Plaintiffs allege that Wells Fargo placed customers into forbearance without informed consent. Plaintiffs contend that Wells Fargo 's actions harmed certain customers if, for instance, the forbearance resulted in ( a ) a new credit application to be denied or ( b ) an increased interest rate or other credit cost on a new credit application. Wells Fargo denies any and all allegations of wrongdoing and does not admit or concede any actual or potential fault, wrongdoing, or liability in connection with any facts or claims that have been or could have been alleged in the lawsuit or in any similar action. 

For some reason, I'm not a part of this lawsuit. Please see the attachment, as Wells Fargo put me into a COVID-19 Forbearance without my consent.