Commerzbank Tells Judge Not To Toss Wells Fargo RMBS Suit

Law360, New York (February 16, 2017, 8:00 PM EST) -- Commerzbank AG on Thursday urged a New York federal judge not to toss its suit alleging that Wells Fargo Bank NA failed to protect it from massive residential mortgage-backed securities losses, saying a ruling in a similar suit against Deutsche Bank National Trust Co. supports such an outcome. 

Commerzbank claims that Wells Fargo allowed more than $1 trillion in losses because its banks didn’t adequately carry out their roles as trustees. Commerzbank on Thursday urged U.S. District Judge Katherine P. Failla not to dismiss the suit,...
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