Wells Fargo’s Claims Against Attorney Headed to Arbitration

A former attorney for Wells Fargo was successful in his bid to move the bank’s allegations that he shared confidential information with another firm to arbitration, a federal judge ruled.

Steven Satter is entitled to arbitrate Wells Fargo’s claims because he is considered a person associated with the Financial Industry Regulatory Authority, Judge Jeffrey P. Hopkins, of the US District Court for the Southern District of Ohio, said in granting the former in-house counsel’s motion to compel.

Satter worked for Wells Fargo Bank, N.A. from 2008 and 2022, according to the opinion. He was sued by Wells Fargo Clearing Services ...