Wells Fargo Faces California Claims on Mortgage Interest Payments

Wells Fargo must face claims that it violated California law by failing to properly alert borrowers that it would collect interest payments for a short time after they paid off federally insured mortgages, a federal judge said Sept. 11 (Fowler v. Wells Fargo Bank, N.A., N.D. Cal., 17-cv-02092, 9/11/17).

The suit in the U.S. District Court for the Northern District of California, which plaintiffs’ counsel said could seek as much as $40 million in damages, is similar to a separate action against Wells Fargo involving Texas law that’s also in the Northern District, as well as another lawsuit ...