Wells Fargo Settles Claims of ‘Ominous’ COBRA Notice Warnings

Wells Fargo & Co. agreed to a class-wide settlement in a lawsuit claiming it included misleading threats in the letters it uses to notify former workers of their right to remain on the company health plan.

The parties reached an agreement following a private mediation session and plan to file the deal for court approval by July 18, they said in a court filing. Their two-page notice, filed Tuesday in the US District Court for the Middle District of Florida, didn’t include details about the agreement.

The lawsuit accuses Wells Fargo of violating the federal Consolidated Omnibus Budget Reconciliation ...