Wells Fargo Told To Pay For Doc Production In Kickback Suits

Law360, Washington (October 16, 2012, 5:13 PM EDT) -- A Maryland federal judge on Friday ordered Wells Fargo Bank NA to bear the costs of producing documents in two class actions claiming it, Prosperity Mortgage Co. and others created a front organization to circumvent consumer protection legislation and gain kickbacks from loans.

Wells Fargo and the plaintiffs in the suits have been at odds over who should bear the financial and legal burden of scanning and cataloging 74,550 HUD-1 statements from the mortgage settlement fees at issue in the class actions.

The bank agreed to...
To view the full article, register now.

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.