Wells Fargo $17 Million Settlement of TCPA Class Claims Gets Preliminary Court Approval

Wells Fargo Home Mortgage agreed to pay $17 million to settle consumer class claims that it used automated and prerecorded calling systems to make debt collection calls to account holders’ cellphones in violation of the Telephone Consumer Protection Act, in a settlement agreement given preliminary approval Feb. 4 by the U.S. District Court for the Southern District of California (Malta v. Federal Home Loan Mortgage Corp., S.D. Cal., 3:10-cv-01290-BEN-NLS, 2/5/13).

A Wells Fargo spokeswoman told BNA Feb. 6 that the bank settled to avoid the time and expense of a court proceeding. “Wells Fargo believes this to ...