Judge Shoots Holes In Wells Flood Insurance Class Cert.

Law360, San Francisco (June 20, 2013, 3:59 PM EDT) -- A California federal judge Thursday lambasted the proposed certification of a class of homeowners who say Wells Fargo Bank NA received kickbacks for and misrepresented the cost of flood and hazard insurance it forced borrowers to buy, accusing plaintiffs' attorneys of “overreaching” in their efforts to represent a nationwide class.

Although U.S. District Judge William Alsup did not indicate how he was likely to rule on the proposed class certification Thursday, his harsh words made it clear that a nationwide class was unlikely. The plaintiffs argued...
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.