Wells Fargo Settles Suit Over Iowa Mortgage Division Layoffs

Wells Fargo Bank NA settled a lawsuit by about two dozen former employees of an Iowa-based home mortgage division who say they were denied wages and severance after their 2018 layoffs, federal court papers show.

The parties’ stipulation of dismissal, filed Monday in the U.S. District Court for the Southern District of Iowa, comes three months after they notified Judge Rebecca Goodgame Ebinger they’d reached a settlement to resolve the case. Details of the settlement weren’t publicly available, and counsel for the parties didn’t respond to requests for comment.

The lawsuit challenged Wells Fargo’s 2018 decision to terminate about ...