A class action is a lawsuit in which one or more representative plaintiffs’ (in this case, Mr. Stoff) bring a lawsuit on behalf of themselves and other similarly situated persons (i.e., a class) who have the same or similar claims against the defendant (the “Class Representative”). The Class Representative and Class Counsel have a responsibility to make sure that the interests of all Class Members are adequately represented.

Class Members are not individually responsible for payment of attorneys’ fees or litigation expenses. In a class action, attorneys’ fees and litigation expenses are paid from a settlement fund, a court-awarded judgment amount, or directly by the defendant, and such payment must be approved by the Court. If there is no recovery on behalf of the class, the attorneys do not get paid.

Should the Class Representative enter into a settlement with the defendant on behalf of the class, the Court will require that Class Members be given notice of the settlement and an opportunity to be heard with respect to the settlement. The Court then conducts a hearing (called a Fairness Hearing) to determine, among other things, if the settlement is fair, reasonable, and adequate.

You received this Notice because you requested it, or Wells Fargo’s records indicate that you may be a Class Member. As a potential Class Member, you have a right to know about the Lawsuit and decide whether you wish to remain a Class Member. This Notice explains the Lawsuit and your legal rights in connection with it.

Judge Bacal of the Superior Court for San Diego County is currently the judge overseeing this Lawsuit. The case is known as Michael Stoff v. Wells Fargo Bank, N.A., Case No. 37-2020-00020808-CU-BT-CTL. The person who filed the class action case is called the Plaintiff. The Defendant in the Lawsuit is Wells Fargo Bank, N.A.

Mr. Stoff brought this Lawsuit against Wells Fargo, a company which services California mortgages, both on behalf of itself and others, and furnishes information to various consumer credit reporting agencies regarding the status of such mortgages. This Lawsuit arises out of Wells Fargo’s furnishing of credit information to the consumer credit reporting agencies regarding borrowers whose mortgages were current and received a CARES Act forbearance on or after March 27, 2020. More specifically, the Lawsuit claims that, during the class period, Wells Fargo furnished information indicating that Class Members’ mortgages were “in forbearance” despite a legal requirement that Wells Fargo continue to report them as “current.”

The Lawsuit claims that, in early April 2020, Mr. Stoff sought and received a 3-month accommodation or forbearance on his mortgage obligations from Wells Fargo, pursuant to the CARES Act. Mr. Stoff alleges that, at the time he received the accommodation, his mortgage was “current,” and that Wells Fargo was required to continue reporting the mortgage as current. Mr. Stoff claims that Wells Fargo changed the way it reported Mr. Stoff’s mortgage in several key respects, such that he contends it was no longer reporting his mortgage as “current,” and that he suffered damage as the result of Wells Fargo furnishing inaccurate or incomplete information about the mortgage.

The Lawsuit also claims that Wells Fargo reported CARES Act accommodations in this manner on a systematic basis for all Class Members, and Class Members were damaged as a result. The Lawsuit seeks damages, statutory penalties, and punitive damages for California borrowers who were current on their mortgage, received a CARES Act accommodation on or after March 27, 2020, and whose account was reported as ‘in forbearance’ (or something similar) by Wells Fargo to a consumer credit reporting agency.

Wells Fargo denies Mr. Stoff’s allegations. Wells Fargo claims that it continued to report his mortgage as current and that it did not furnish inaccurate or incomplete information to the consumer credit reporting agencies about his mortgage. Wells Fargo also claims that it continued to report Class Members’ mortgages as current and that it did not furnish inaccurate or incomplete information about Class Members to credit bureaus. Wells Fargo further maintains that it has a number of valid defenses to the claims asserted. Wells Fargo also claims neither Mr. Stoff nor Class Members were damaged by the allegedly inaccurate reporting, and they are not entitled to recover any relief in this Lawsuit.

On June 18, 2020, Mr. Stoff filed this putative class action alleging that Wells Fargo violated the CCRAA, at Cal. Civ. Code § 1785.25(a), by furnishing information on a specific transaction or experience to any consumer credit reporting agency when it knew or should have known the information was incomplete or inaccurate.^[1] (ROA 1) ^[2]. Mr. Stoff’s claims are currently set forth in his third amended complaint. (ROA 221)

On April 14, 2023, Mr. Stoff moved for class certification. (ROA 229). After a series of hearings between November 17, 2023 and January 19, 2024, the Court issued an order granting Mr. Stoff’s motion for class certification in part (ROAs 416, 445). In granting Mr. Stoff’s motion for class certification, the Court did not rule on whether his claims have merit. You may view the court file online on the San Diego Superior Court’s Register of Actions website which may be found here: www.sdcourt.ca.gov.

^[1] Mr. Stoff also asserted a claim under California Business and Professions Code § 17200, which was later withdrawn upon filing his second amended complaint. (ROA 29).

^[1] All document citations (“ROA #”) refer to the Court’s Register of Actions for the Lawsuit

In the Order Granting Class Certification, the Court certified the following Class:

All mortgagors with a mortgage in California whose accounts were current, who received a CARES Act forbearance on or after March 27, 2020, and whose account was reported as ‘in forbearance’ (or something similar) by Defendant to a consumer reporting agency.

If you fall within this class definition, you are a Class Member.

If you are still not sure whether you are included, you can ask for free help. You can call toll-free 1-877-307-7268 or email the Notice Administrator at info@CaresActLitigation.com for more information.

You do not have to do anything now if you want to remain a Class Member. By doing nothing, you stay in the Class. If you do nothing now, regardless of whether Mr. Stoff wins or loses at trial, you will not be able to sue or continue to sue Wells Fargo about its credit reporting of your loan while it was in a CARES Act forbearance. You will also be legally bound by all the orders and judgments the Court issues in this case.

If you already have a lawsuit against Wells Fargo for similar claims and want to continue with it, or if you wish to bring such a lawsuit in the future, you need to ask to be excluded from the Class. If you exclude yourself from the Class – sometimes called “opting-out” of the Class – you will not get any money or benefits from this Lawsuit even if Mr. Stoff wins at trial or there is a settlement.

However, if you exclude yourself, you may be able to sue or continue to sue Wells Fargo on your own. If you exclude yourself, you will not be legally bound by any judgment in this Lawsuit. If you start your own lawsuit against Wells Fargo after you exclude yourself, you may have to hire and pay for your own lawyer for that lawsuit. If you do exclude yourself so you can start your own lawsuit against Wells Fargo, you should talk to your own lawyer soon because your claim(s) may be subject to a statute of limitations or other time-sensitive requirements.

No. You will not get any money or benefits from any settlement or judgment if you exclude yourself from this Lawsuit.

You can exclude yourself by sending a written “Request for Exclusion.” You cannot exclude yourself by telephone. You must send a “Request for Exclusion” in the form of a letter sent by U.S. Mail stating that you want to be excluded. You must include your name, address, and telephone number, and sign the letter. You must submit proof of authorization to submit the Request for Exclusion, if submitted by an authorized representative. You must mail your Request, postmarked by July 31, 2024, to Wells Fargo CARES Act Mortgage Credit Reporting Class Action, c/o A.B. Data, Ltd., ATTN: Exclusions, P.O. Box 173001, Milwaukee, WI 53217

A Request for Exclusion that does not include all of the required information, that does not contain the proper signature, that is sent to an address other than the ones designated above, or that is not sent within the time specified may be deemed invalid and the person(s) filing such an invalid request may be deemed a Class Member.

All persons who submit valid and timely Requests for Exclusion in the manner set forth above shall have no rights under the Lawsuit and shall not be bound by any judgment or settlement.

The Court has appointed Russell S. Thompson, IV and Andrew J. Brown to represent you as “Class Counsel.” Their contact information is as follows:

You do not need to hire your own lawyer because Class Counsel is working on your behalf. But if you want your own lawyer, you may hire one at your own expense. You can ask your attorney to appear in Court for you if you want someone other than Class Counsel to speak for you, at the Court’s discretion.

If Class Counsel obtains money or benefits for the Class through this Lawsuit, they will ask the Court to award them attorney fees and expenses. You will not have to pay these fees and expenses. If the Court grants Class Counsel’s request, the attorneys’ fees and expenses would either be deducted from any money obtained for the Class or paid separately by Wells Fargo.

Trial has not yet been scheduled. Information about the trial date will be posted when available at www.CaresActLitigation.com. If the case is not dismissed or settled, the Plaintiff will have to prove his claims at a trial that will take place at the San Diego Hall of Justice, 330 W. Broadway, San Diego, CA 92101.

No. Remaining a Class Member does not mean that you will be required to attend the trial. Class Counsel will present the case for Mr. Stoff and the Class, and Wells Fargo will present its defenses. You or your own lawyer are welcome to attend at your own expense.

If at some point Mr. Stoff obtains money or benefits for the Class as a result of the trial or a settlement, and you did not exclude yourself from the Class, you will be notified. There could be post-trial proceedings and appeals. We do not know how long this will take, and there is no guarantee that any money or benefits will be obtained through this Lawsuit.

Continue to regularly visit the website, www.CaresActLitigation.com, where you will find important documents, including the Court’s Orders certifying the Class, the operative Third Amended Class Action Complaint, Wells Fargo’s operative Answer to the Complaint, as well as other Court filings. You may also contact the Notice Administrator by:

• Email at: info@CaresActLitigation.com
• By mail to:
  • Wells Fargo CARES Act Mortgage Credit Reporting Class Action
  • c/o A.B. Data, Ltd.
  • P.O. Box 173008
  • Milwaukee, WI 53217
  or
• Toll-free at 1-877-307-7268

You may also contact Class Counsel directly using the information provided in FAQ 11.