Jackson v. Wells Fargo Bank N.A.

The Center represents a homeowner objecting to a settlement of claims alleging that Wells Fargo received kickbacks on flood hazard determination fees charged to mortgagors. The settlement needlessly requires class members to submit a claim form to receive payment, a burden that will enable the class attorneys to obtain more than their fair share of the proceeds. Compounding the problem, the attorneys’ fee amounts to more than five times their usual billing rate.