Wells Fargo agrees to 33 million settlement over deceptive free trial subscription charges

Wells Fargo has agreed to a $33 million settlement in McNamara v. Wells Fargo to resolve claims that it assisted three groups of companies—Apex, Triangle and Tarr—in running deceptive “free” trial offers that enrolled consumers in recurring subscription charges without informed consent. The complaint alleges the bank opened and handled merchant accounts that received millions of dollars from these schemes, and affected consumers who were billed since 2009 may now file claims for a proportional cash payment with documentation (or a flat payment up to $20 if undocumented); claim forms are due March 4, 2026, the deadline to object or opt out is March 5, 2026, and the final approval hearing is March 26, 2026. Wells Fargo denies wrongdoing but settled to resolve the class claims, and consumers who already received FTC payments tied to prior actions against the Triangle/Apex entities need not submit a new claim. Beyond the payout, the case highlights broader debates over “negative option” billing and the role of banks and payment processors when merchants run deceptive free trials. Regulators and plaintiffs alike have relied on the Restore Online Shoppers’ Confidence Act and FTC enforcement actions to challenge automatic enrollments and require clear, informed consent and straightforward cancellation mechanisms; similar lawsuits and FTC actions against online trial marketers have resulted in large judgments and settlements in recent years. For financial institutions, this settlement underscores pressure to strengthen merchant onboarding, monitoring and fraud controls to avoid being treated as facilitators of unfair or deceptive practices, while consumers are reminded to check statements and preserve receipts or bank records to substantiate claims.