Philip R. Stein

Philip R. Stein

Bilzin Sumberg Baena Price & Axelrod LLP

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Latest Posts › Wells Fargo


Court Revives Antitrust Suit Against MasterCard, Visa, Three Banks

A federal appeals court has revived a lawsuit accusing MasterCard, Visa and three major banks of illegally fixing ATM prices to the detriment of consumers. A federal district judge had thrown out the lawsuit in 2013 after...more

8/19/2015 - American Express Anti-Competitive Anti-Steering Rules ATMs Bank of America Banking Sector Banks Debit Cards DOJ Financial Institutions Financial Services Industry JPMorgan Chase MasterCard Payment Processors Transaction Fees Visa Inc Wells Fargo

Wells Fargo Ends Marketing Services Arrangements with Builders

Concerned about “increasing uncertainty surrounding regulatory oversight of these types of arrangements,” Wells Fargo is ending all of its roughly 200 mortgage marketing services and desk rental agreements with builders and...more

8/11/2015 - Banking Sector Banks Borrowers CFPB Construction Industry Consumer Lenders Financial Institutions Financial Services Industry Home Buyer HUD Kickbacks Lenders Loans Mortgage Servicers Mortgages Real Estate Brokers Real Estate Market Regulatory Oversight RESPA Wells Fargo

Main Street Cashes $3.1 Billion in Checks from Wall Street

With the mortgage crisis almost a decade in the rear-view mirror, some harmed homeowners are just now starting to see reparations for the transgressions of the country’s largest financial institutions. ...more

7/17/2014 - Bank of America Banks Citigroup Foreclosure Goldman Sachs JPMorgan Chase Morgan Stanley Mortgages OCC Robo-Signing Settlement Wall Street Wells Fargo

Robo-Signing Still Making Headlines As Wells Fargo Settles Another Lawsuit

“Robo-signing,” the term coined to refer to bank officials who quickly approved mortgage foreclosure documents without actual knowledge of the validity of the grounds for foreclosure, has been spurring lawsuits and making...more

6/3/2014 - Banks Foreclosure Mortgages Popular Robo-Signing Settlement Signatures Wells Fargo

Wells Fargo Settles Mortgage Claims With FHFA For Close To $1 Billion

Add another mega-settlement to the rapidly growing list of huge payouts by the nation’s largest banks to federal agencies. Wells Fargo reportedly has now agreed to pay the Federal Housing Finance Agency (FHFA), which oversees...more

11/5/2013 - Fannie Mae FHFA Freddie Mac Mortgages Settlement Wells Fargo

Mortgage Foreclosure Settlement

We have long been skeptical of most loan “repurchase” or “indemnification” demands made by big banks against the third-party originators (i.e., correspondent lenders) who sold those loans to the big banks many years ago....more

1/10/2013 - Aurora Bank of America Chase Bank Citibank Countrywide Foreclosure Mortgages Settlement SunTrust US Bank Wells Fargo Wrongful Foreclosures

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