IMPORTANT- Wachovia Settlement

Wachovia Settlement Regarding Payment Processors for Telemarketers

This website was established to provide information about the resolution of settlements directly involving the Office of the Comptroller of the Currency of the United States, class action plaintiffs in the Faloney/Harrison actions, and Wachovia Bank, N.A. The lawsuit is about Wachovia Bank’s account relationships with payment processors that transacted business with telemarketers, who allegedly engaged in fraudulent telemarketing practices.

The settlement is intended to reimburse class members for losses that occurred as a result of the telemarketing activity. The reimbursement has two components: (1) refunding the money that was debited from class members' accounts through a transaction initiated by one of the payment processors, and (2) refunding bank fees that resulted from these transactions. No claims procedure is necessary for the refund of money directly debited, however refund of bank fees is subject to a claims process discussed on this website.