Wells Fargo’s $95.7 Million Wage Deal Gets First Green Light (1)

Wells Fargo’s $95.7 million proposed settlement of a class action brought on behalf of thousands of home mortgage consultants who alleged California wage-and-hour violations got its first OK Thursday in a federal court in California.

Judge Beth Labson Freeman said during a Zoom hearing that the global fund that resolves multiple class actions that were consolidated represents a “solid” deal for workers who said the banking giant violated various laws and sought unpaid minimum wages, vacation pay, and waiting-time penalties. The deal as proposed allocates about $62.8 million to the class members.

The settlement represents nearly 50% of the total ...