U.S. District Judge Jon S. Tigar of the Northern District of California has issued an order granting final approval to a $320 million settlement that will end shareholders’ derivative litigation relating to Wells Fargo’s unfair sales practices and its widespread fake accounts scandal. Plaintiffs in the suit, including the Fire & Police Pension Association of
As reported by Law360 (subscription), Judge Manish S. Shah of the Northern District of Illinois has granted preliminary approval to a $17.85 million settlement with Wells Fargo over consumer claims that the bank violated the Telephone Consumer Protection Act (“TCPA”) by improperly sending unsolicited and harassing prerecorded messages to cellphones about mortgages, home equity loans, credit card
A California federal judge has granted preliminary approval to a proposed $320 million settlement that would end shareholders’ derivative litigation relating to Wells Fargo’s fake accounts scandal. Plaintiffs in the suit, including the Fire & Police Pension Association of Colorado and the City of Birmingham Retirement and Relief System allege that since at least 2011, the
The City of Miami obtained a significant victory in the Eleventh Circuit in Fair Housing Act lawsuits it has brought against certain banks, including Wells Fargo & Co. and Bank of America. The Eleventh Circuit issued decisions on remand from the Supreme Court on proximate cause, holding “[c]onsidering the broad and ambitious scope of the
Homeowners’ homes foreclosed on after Wells Fargo’s software incorrectly denied available mortgage modifications News sources have revealed that more than 600 Wells Fargo customers were incorrectly denied loan modifications under a federal assistance program set up by the Treasury Department in 2009, with 400 of the owners ultimately losing their homes to bank foreclosure. The