Collection Agency Loses Dispute Over Wells Fargo Accounts

Law360, New York (January 9, 2013, 7:03 PM EST) -- A Florida federal judge on Tuesday dismissed collection agency United Credit Recovery LLC's breach of contract suit against Wells Fargo Bank NA after finding the agreement did not give it a right of first refusal to the bank's sale of overdrafted accounts.

U.S. District Judge Joan A. Lenard tossed UCR's claims with prejudice, saying an amendment made to the agreement clearly excluded any right of first refusal for UCR in Wells Fargo's sale of the accounts, known as receivables.

“Because the amendment expressly and specifically modified...
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