$12 Million Wells Fargo Settlement Gains Final Approval

On January 26, 2022, United States District Court Judge Timothy S. Black granted final approval in Ryder v. Wells Fargo Bank, Case No. 1:19-cv-00638, a $12 million class action settlement brought on behalf of certain Wells Fargo mortgage borrowers who were not offered loan modifications due a malfunction with Wells Fargo’s loan modification program. Markovits, Stock & DeMarco, LLC, along with co-counsel, acted as Class Counsel for the plaintiffs and class members. The $12 million class action settlement permits over $9 million in direct payments to roughly 1,800 class members.