Wells Fargo Wants Supreme Court to Overturn Crisis Loan Ruling

Wells Fargo & Co. says the U.S. Supreme Court should review an appeals court’s False Claims Act ruling that reinstated claims alleging it improperly received low-rate loans from a Federal Reserve bank in the wake of the 2008 financial crisis.

The Nov. 21 ruling from the U.S. Court of Appeals for the Second Circuit involves issues of major national importance in the administration of the FCA, and has potentially sweeping implications for Federal Reserve banks and other government instrumentalities, Wells Fargo says.

Wells Fargo filed an application Monday with the Supreme Court to extend time to file a petition for ...