March 15, 2021
A Hawaii pension fund on Monday was tapped to lead a proposed class action suit accusing Wells Fargo of making billions of dollars worth of risky commercial loans, though the federal judge overseeing the case ordered that the fund must consider applications by law firms to serve as class counsel.
November 13, 2020
Wells Fargo has issued billions of dollars in commercial loans to clients with poor credit and a high risk of default, the result of systematically failing to follow appropriate underwriting standards and due diligence, investors told a California federal court Friday.