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Wells Fargo Agrees To $25.7M Settlement In RICO Suit

law360.com | December 11, 2015

By Hannah Sheehan

A group of homeowners has asked an Iowa federal court to approve a $25.7 million settlement of a putative RICO class action accusing Wells Fargo of ordering unnecessary property inspections and charging delinquent borrowers, calling the agreement fair, reasonable and adequate.

The homeowners asked the judge on Tuesday to grant final approval of the agreement that comes after seven years of litigation of claims that Wells Fargo violated the Racketeer Influenced and Corrupt Organizations Act by ordering repeated property inspections and concealing the nature of charges.

 

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CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).

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