The Better Business Bureau has been receiving numerous telephone calls from local consumers who have received a check for $149 from the U.S. District Court Settlement Administrator in Philadelphia, PA as part of a settlement agreement with Wachovia Bank.
Consumers are concerned about the legitimacy of these checks and are also confused about why they are included in the Wachovia settlement.
"These checks are legitimate and consumers who receive them can safely deposit the check in their banking account or cash the check at a Wachovia branch," said Claire Rosenzweig, President and CEO of the Better Business Bureau Serving Metropolitan New York.
Checks were mailed to 740,000 consumers on December 11, 2008 as part of the $150 million dollar settlement agreement.
The settlement arose from banking arrangements that Wachovia had with telemarketers to process payments for product orders made by telephone. Consumers who receive settlement checks ordered products or services from one of these telemarketing firms and paid by electronically created checks over the telephone.
Additional information on the Wachovia settlement is available at www.restitutionpayment.com.
For more information, please visit www.bbb.org.