Wachovia Hit With Proposed Class Action

Law360, New York (April 13, 2007, 12:00 AM EDT) -- A proposed class action has been filed against Wachovia Bank, alleging the bank conspired in a scheme that facilitated a telemarketing fraud directed at the elderly.

The proposed class action suit, filed Wednesday in the U.S. District Court for the Eastern District of Pennsylvania, seeks to recover three times the damages incurred by the plaintiff, Mark Faloney, and a class of similarly situated individuals.

The class would include those who had drafts from their bank accounts deposited by Payment Processing Center LLC into one or more...
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