Wells Fargo’s $15 Million Settlement of Car Repo Claims Approved

Wells Fargo Bank N.A. won final approval of a $15 million settlement of claims by more than 22,000 class members that it used deficient disclosure notices and practices when it repossessed vehicles, in violation of Pennsylvania law.

The settlement is fair, reasonable, and adequate, and the settlement class meets Rule 23(a)'s requirements of numerosity, commonality, typicality, and adequacy of representation, Judge Gerald J. Pappert of the US District Court for the Eastern District of Pennsylvania said Thursday.

Under the agreement, the settlement fund will be used to make refund payments, totaling approximately $6.87 million, to class members whose vehicles were ...