Wells Fargo Ordered to Pay $3.1MM Fine in Mortgage Case
APR 10, 2012 - 8:15 am
The Huffington Post reported that a federal judge who has fiercely criticized how big banks service home loans is fed up with Wells Fargo.
The Post said in a scathing opinion issued last week, Elizabeth Magner, a federal bankruptcy judge in the Eastern District of Louisiana, characterized as “highly reprehensible” Wells Fargo’s behavior over more than five years of litigation with a single homeowner and ordered the bank to pay the New Orleans man a whopping $3.1 million in punitive damages, one of the biggest fines ever for mortgage servicing misconduct.
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