September 12, 2017 / 9:11 PM / in 10 months

Wells Fargo must face lawsuit over paid-off mortgage interest

Wells Fargo must face a proposed class action accusing it of collecting tens of millions of dollars in additional interest from California homeowners who paid off their mortgages early without providing required disclosures about the charges, a federal judge has ruled.

In a decision on Monday, U.S. District Judge Haywood Gilliam in Oakland, California said homeowners can pursue claims that the bank violated a state law against unlawful and unfair practices by not properly explaining how the extra charges could be avoided.

To read the full story on WestlawNext Practitioner Insights, click here:

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