https://www.propublica.org/article/heres-another-way-wells-fargo-took-advantage-of-customers Four former employees say that Wells Fargo made clients in its Los Angeles region pay for missing deadlines to lock in interest rates on loans, even though the delays were the bank’s fault. by Jesse Eisinger ProPublica, Jan. 23, 2017, 8 a.m. Wells Fargo, the largest mortgage lender in the country, portrays itself as [...]
Santa Barbara, Calif.—The fifth edition of Lender Liability (800 pages), the authoritative treatise on lender misconduct, is now available through Juris Publishing. Authored by the acknowledged pioneer in lender liability law, attorney A. Barry Cappello, this latest edition of Lender Liability is a thorough revision and update of all the latest on how banks violate [...]
Your Legal Rights: Borrowing Basics
Pacific Coast Business Times – October 26, 2012
A judge awarded nearly $5 million to the attorneys representing plaintiffs in a lending discrimination class action lawsuit against Wells Fargo Bank
The City of Tustin sued Keybank and other lenders to a developer who was hired redevelop a former U.S. Marine base, borrowed $70 million against the project, then failed to complete the work and defaulted on the loans.
Lenders often demand far more security than they need when a business borrower seeks a loan. While this may be a prudent and cautious lending strategy for banks, it can prove disastrous for a business borrower or guarantor who pledges personal collateral for the loan.
A collapse of the commercial real estate sector will be catastrophic to financial institutions and the economy so lenders must act now to avoid such a financial debacle, says A. Barry Cappello, nationally renowned attorney specializing in lender liability law.
By A. Barry Cappello Note: This article appeared in the Letters to the Editor column of the Los Angeles Daily Journal, Sept, 20, 2011 This letter responds to “Reality check: A bank’s liability is not that simple,” by Jill Switzer (Sept. 1). In cautioning the reader not to assume that bank liability for depositor claims [...]
May 12, 2011 LOS ANGELES, CALIF.–MGA Entertainment, a Los Angeles-based toymaker best known for its Bratz product line, filed a lawsuit against several large European banks over their alleged concealment of accounting fraud at French toymaker Smoby prior to MGA’s purchase of the company. Because the banks manipulated Smoby’s internal finances, the lawsuit says MGA [...]
Posted By JON PRIOR On March 24, 2011 A Los Angeles Superior Court jury ruled against Wells Fargo (WFC : 32.02 +1.52%) Thursday in a mortgage discrimination case, awarding borrowers $3.5 million. The class-action lawsuit alleged the bank knowingly discriminated against borrowers in minority neighborhoods. As a result, borrowers were charged more for their loans [...]