Lawsuit:  ‘Bank Overcharged for Flood Zone Determinations’

If you bought a home or refinanced with a Wells Fargo mortgage between August 30, 2011 and December 31, 2013, you may be wells fargoentitled to a share of a class action suit against Wells Fargo.

A very small share — like, $9.50 per claimant.

The suit — formally known as “Jackson v. Wells Fargo”* — alleges that Wells Fargo effectively overcharged borrowers for federally-required flood zone determinations.

The deadline for filing a claim form is January 31, 2015.

If the suit is approved, I think the attorneys should get $9.50, too.

P.S.:  I have no idea whether or not the allegation is true, but the (relatively) small pot of money makes me wonder whether Wells Fargo simply decided to settle rather than go through the hassle of extensive litigation.

This time . . . (google, “Wells Fargo” and “class action” and see what comes up).

*As you learn in law school, it really is “v.,” not “vs.”

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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