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Credit Records Rhode Island Records Town Stats Recent Sales Events Select Page 550 requested action not taken: mailbox unavailable Wells Fargo To Pay Homeowners $3.45M Over Mailing Error Reprints | Print By Reuters | August 26, 2016 A $3.4 million in rupees Wells Fargo & Co. mortgage unit will pay $3.45 million to some customers because of a processing error that delayed the mailing of letters to almost 8,000 homeowners in bankruptcy and http://www.wsj.com/articles/wells-fargo-to-pay-homeowners-3-4-million-over-mailing-error-1472151641 shortened their notice period about changes to monthly mortgage payment amounts, according to a court document. The unit, called Wells Fargo Bank NA, agreed on the sum in a pact with the Department of Justice’s U.S. Trustee Program, which oversees the country’s bankruptcy system, according to a letter from the bank filed in U.S. Bankruptcy Court in Greenbelt, Maryland. Wells Fargo agreed to fix http://www.commercialrecord.com/2016/08/wells-fargo-pay-homeowners-3-45m-mailing-error/ the mailing error and give credits and refunds worth $3.45 million to affected homeowners. Inquiries by an independent compliance monitor hired by the bank as part of an $81.6 million settlement with the Justice Department last year uncovered the problem, said Cliff White, director of the U.S. Trustee Program’s executive office, in a statement. In that agreement last year, Wells Fargo settled claims that it denied thousands of homeowners a chance to challenge mortgage payment increases imposed during their bankruptcy proceedings. The latest $3.45 million deal reached with Wells Fargo supplements that settlement, the U.S. Trustee Program said. The bank also has agreed to expanded compliance monitoring. A Wells Fargo spokesman said it self-reported the mailing delay to the U.S. Trustee Program upon learning of the problem and that it is providing timely delivery of documents. Related PostsDOJ: Wells Fargo To Pay $81.6 Million To Bankrupt U.S. HomeownersWells Fargo Seeks To Shore Up Reputation In Wake Of ScandalAmazon Enters Student Loan Business In Partnership With Wells FargoCFPB Fines Wells Fargo $100M Over Phony Account Openings Tags: Wells Fargo Banking & Lending Top Block MOST POP
Intellectual Property Product Liability Securities Rankings Law360's MVPs Glass Ceiling Report Global 20 Law360 400 Diversity Snapshot Practice Group Partner Rankings Practice Groups of the http://www.law360.com/articles/832662/wells-fargo-to-pay-homeowners-3-45m-over-mailing-error Year Pro Bono Firms of the Year Rising Stars Trial Aces Site Menu http://www.winnipegfreepress.com/local/possible-mailing-error-may-have-included-confidential-tax-information-396714421.html Join the Law360 team Search legal jobs Learn more about Law360 Read testimonials Contact Law360 Sign up for our newsletters Site Map Help Make sure you don't miss any Law360 breaking news. Download our plug-in for Chrome to get customizable, real-time news alerts Wells Fargo To Pay Homeowners $3.45M Over Mailing email error Error By Kat Greene Law360, Los Angeles (August 25, 2016, 9:09 PM EDT) -- Wells Fargo & Co. agreed to pay some homeowners in bankruptcy $3.45 million after it uncovered a mailing error that resulted in some people getting documents about payment changes a few days late, according to a letter to the government on Wednesday.In a letter to the U.S. Trustee, the bank email error message said it was modifying an $81.6 million deal for homeowners in Chapter 13 bankruptcy after admitting it failed to give them proper notification that it would be changing the amount of their monthly mortgage payments.... To view the full article, register now. Try Law360 FREE for seven days Already a subscriber? Click here to login Add to Briefcase Printable Version Rights/Reprints Editorial Contacts Documents Wells Fargo Letter Agreement Related Sections Banking Bankruptcy Real Estate Law Firms K&L Gates Companies Wells Fargo & Co. Government Agencies Consumer Financial Protection Bureau U.S. Department of Justice Most Popular 1 The 5 Practice Areas Poised For A 2017 Growth Spurt 2 Impact Of Yates Memo Is Becoming Clearer, GCs Say 3 'Pompous' Prof. Lessig Defends Critic Over Wikileaked Email 4 McCain Vows Senate Will Block Any Clinton High Court Pick 5 Federal Judges Slam Alice At Event Honoring Judge Whyte © 2016, Portfolio Media, Inc. About | Contact Us | Legal Jobs | Careers at Law360 | Terms | Privacy Policy | Law360 Updates | Help Beta Tools: Track docs | Track attorneys | Track judges Visit Our Site Map × Already have access? Click
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