Wells Fargo Scores Initial OK For $30M TCPA Settlement

Law360, New York (August 18, 2016, 6:58 PM EDT) -- A Georgia federal judge granted preliminary approval Thursday to Wells Fargo Bank NA's roughly $30.4 million deal to resolve class action claims that the bank violated the Telephone Consumer Protection Act by using an autodialer to call cellphones about account overdrafts.

U.S. District Judge Richard W. Story gave his initial blessing to an all-cash deal that will resolve Kenisha Cross' claims by setting up a settlement fund to compensate an estimated 6.4 million class members, with each consumer receiving about $4.75.

While Cross stood by her claims in her preliminary approval memorandum, she said the settlement was an "excellent result considering...

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