Wells Fargo in Trouble Again –

According to an article in USA Today “Wells Fargo faces new accusations that it tried to capitalize financially on its customers without their permission — this time by allegedly modifying mortgage terms for people who had filed for bankruptcy protection.
With the smoke still lingering from the firestorm that erupted from the bank’s opening of fake consumer accounts, Wells was hit with multiple lawsuits alleging that the bank surreptitiously extended loan lengths, potentially costing some homeowners tens of thousands of dollars.”
On June 7, 2017 plaintiff attorneys alleged “illegal stealth modifications” of mortgage loans.  The attorneys are seeking to establish a class action group in the bankruptcy court detailing actions taken by Wells Fargo in more than 100 bankruptcy cases.
Surprise – Wells Fargo “strongly denies the claims”.
In a separate article in the L.A. Times, Elizabeth Warren calls on Feds to use their powers to remove Wells Fargo board members over the earlier false accounts scandal.

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About the Author:
Diane L. Drain is a well known and respected Arizona bankruptcy attorney. She is an expert in both consumer bankruptcy and Arizona foreclosure. Since 1985 she has been a dedicated advocate for her clients and spokesperson for Arizona citizens. Diane is a retired professor of law teaching bankruptcy for more than 20 years. As a teacher she believes in offering everyone, not just her clients, advice about the Arizona bankruptcy laws. She is also a mentor to hundreds of Arizona attorneys.
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*From Diane: This article/blog is available for educational purposes only and does not provide specific legal advice. By using this information, you agree there is no attorney client relationship between you and me, and that this information should not be used as a substitute for competent legal advice from an attorney familiar with your personal circumstances and licensed to practice law in your state.*

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