Wells Fargo Faces Class Action Over Foreclosures, Late Fees

Law360, Los Angeles (April 11, 2014, 10:35 PM EDT) -- Wells Fargo Bank NA violated California consumer laws by billing late fees to, or foreclosing on, state homeowners who had loan modification applications pending with the bank, according to a putative class action removed to California federal court Thursday.

The suit is among the latest based on the California Homeowner Bill of Rights, enacted Jan. 1, 2013. The law forbids banks from pursuing foreclosures while simultaneously processing loan modifications, a practice known as "dual tracking," and from charging late fees during the process.

“Because the dual-tracking...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Henry Garcia et al v. Wells Fargo Bank, N.A. et al


Case Number

8:14-cv-00558

Court

California Central

Nature of Suit

Real Property: Foreclosure

Judge

Andrew J. Guilford

Date Filed

April 10, 2014

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.