Wells Fargo, Mortgage Consultants Reach $95.7 Million Wage Deal

Wells Fargo Bank NA agreed to pay nearly $95.7 million to more than 5,300 home mortgage consultants to resolve two class actions alleging California wage-and-hour violations, according to a motion for settlement approval filed in a federal court in San Jose.

The proposed deal allocates roughly $62.8 million to the class members. Class counsel is seeking nearly $32 million in attorneys’ fees and up to $100,000 for litigation expenses.

The motion was submitted Feb. 26 to Judge Beth Labson Freeman of the U.S. District Court for the Northern District of California.

If approved, the deal would resolve two consolidated class ...