$26M Wells Fargo Mortgage Practices Class Deal Affirmed

A $26 million class settlement between Wells Fargo & Co. and mortgage customers was properly approved over an objector’s challenge, the Eighth Circuit held Feb. 3 (Njema v. Wells Fargo & Co., 2017 BL 33100, 8th Cir., No. 16-1484, 2/3/17).

It would have been inappropriate to allow objector Kenneth Njema to add claims for trespass to the class action because not all class members had trespass claims, Judge Raymond W. Gruender wrote for the U.S. Court of Appeals for the Eighth Circuit.

Customers sued the bank under the Racketeer Influenced and Corrupt Organizations Act for its alleged practice ...