What Some Customers Get in Compensation from Wells Fargo

The first thing to know, is that your Wells Fargo contract probably limits your options for legal complaints against Wells Fargo. You generally have two options:

1. Take your Wells Fargo complaint to Small Claims Court, or
2. Take your Wells Fargo complaint to Consumer Arbitration

We at FairShake can help you file a claim against companies like Wells Fargo. We’ll take your complaint through the legal process of consumer arbitration. This usually gets them to negotiate. (For a list of companies we process complaints against, start here.)

Here’s some information from the American Arbitration Association (AAA) on how recent complaints against Wells Fargo have been resolved:

Now for the numbers…

In 2018, 75 complaints against Wells Fargo were resolved through the arbitration system.

Among these complaints,  resulted in a settlement  – that’s 74% of complaints.

Although settlement amounts are secret, the average complaint against Wells Fargo asked for $14993 in compensation.

At least 11 customers also received non-monetary relief for their Wells Fargo complaint as well.

Arbitration disputes with Wells Fargo took an average of over 7 months to resolve.

Complaints handled by FairShake are often settled before arbitration, which can be much faster. (For a list of companies we process complaints against, start here.)

The arbitration complaint process against Wells Fargo costs money, but the company is usually responsible for costs. Wells Fargo paid $950 in fees per complaint on average.

Meanwhile, 100% of consumers paid nothing in arbitration fees for their disputes with Wells Fargo through the American Arbitration Association.