Banking
May 1, 2007
Bank Will Pay $10 Million in Class Action
SAN FRANCISCO - Wells Fargo Bank will pay $10 million to settle a class action for allegedly engaging in "bait and switch" tactics involving subprime loans to home buyers.
Daily Journal Staff Writer
SAN FRANCISCO - Wells Fargo Bank will pay $10 million to settle a class action for allegedly engaging in "bait and switch" tactics involving subprime loans to home buyers.
The complaint accuses Wells Fargo Financial, a subsidiary of San Francisco-based Wells Fargo & Co., of failing to tell borrowers with good credit ratings that they qualifi...
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