April 30, 2015 / 11:07 AM / 5 years ago

Lawsuit accuses Wells of profiting from foreclosure relief program

(Reuters) - A new class action lawsuit filed on behalf of a Poughkeepsie, New York homeowner accuses Wells Fargo of feigning compliance with a federal program meant to help borrowers avoid foreclosure while the bank was profiting from federal bailout funds.

Filed last Thursday by Sultzer Law Group, the lawsuit said Wells intentionally dragged out modifying loans so it could collect more fees, penalties and interest from struggling homeowners trying to stay in their homes.

To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/1GK0guu

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