Class Definition Tightened In Wells Fargo Loan Deception Suit

Law360, New York (October 10, 2012, 6:03 PM EDT) -- A California federal judge on Tuesday narrowed the definition of a putative class of borrowers accusing Wells Fargo Bank NA of deceptively promising to modify problem mortgages before foreclosing on properties, after the class conceded it would seek the tighter definition.

In a move he called “rarely appropriate,” U.S. Magistrate Judge Joseph Spero agreed to strike parts of the class definition that said the class was made up of homeowners who received an “illusory modification” on their loan as per a written agreement.

Under the stricter...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Sutcliffe et al v. Wells Fargo Bank, N.A.


Case Number

3:11-cv-06595

Court

California Northern

Nature of Suit

Fraud or Truth-In-Lending

Judge

Joseph C. Spero

Date Filed

December 20, 2011

Law Firms

Companies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.