wells fargoWells Fargo settles mortgage kickback lawsuit for $16 million


This is a reuters.com article.


Wells Fargo Bank has agreed to pay $16.2 million to resolve claims that it accepted kickbacks from a defunct Maryland title company as part of a scheme that allegedly raised real estate settlement costs for thousands of homeowners.

Filed in 2013, the lawsuit accused Wells Fargo and several other banks of receiving cash and free marketing services from Genuine Title in exchange for referring borrowers for title insurance and real estate closing services.

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PiggyBankBlog Courtroom Bailiff: “All Rise! The Honorable Wells Fargo Whistleblower Elizabeth Jacobson has entered the Courtroom of Public Opinion in recent PiggyBankBlog Court of Public Opinion Radio Interview!”