Home Appraisal RICO Suit Against Wells Fargo Nixed

Law360, New York (September 1, 2010, 6:15 PM EDT) -- Wells Fargo Bank NA and its appraisal subsidiary have won separate bids to toss a putative class action brought by an Arizona couple who alleged the companies rigged their home appraisal process to increase profits at the expense of homeowners.

In an order filed Monday in the U.S. District Court for the District of Minnesota, Judge John Tunheim said the couple offered no evidence to support allegations that they suffered concrete financial loss as a result of the alleged rigging scheme and dismissed all counts in...
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