Ocwen, Wells Fargo Fight Bringing Fla. Deal Into ERISA Suit

Law360 (October 28, 2020, 8:53 PM EDT) -- Ocwen Financial Corp. and Wells Fargo are arguing that a union pension fund's trustees shouldn't be allowed to use Ocwen's recent $11 million settlement in a mortgage misconduct suit in Florida as a pawn in their ERISA lawsuit in New York federal court.

In a brief filed Tuesday, the mortgage lender and bank encouraged a New York federal judge to ignore the United Food & Commercial Workers Unions & Employers Midwest Pension Fund trustees' request for the court to consider elements of the settlement when deliberating their Employee Retirement Income Security Act suit.

The trustees had told U.S. District Judge Vernon...

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