Lewis: Wells Fargo so big its suing itself

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(Reuters) – The U.S. government filed a civil mortgage fraud lawsuit on Tuesday against Wells Fargo & Co, the latest legal volley against big banks for their lending during the housing boom.

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Wells Fargo Sues Wells Fargo? Fox News Interviews Al Lewis of Dow Jones about it. You can’t expect a bank that is dumb enough to sue itself to know why it is suing itself. Yet I could not resist asking Wells Fargo Bank NA why it filed a civil complaint against itself in a mortgage foreclosure case in Hillsborough County, Fla.

Wells Fargo executives know that everyone hates them. In the last two years, the bank has launched three separate marketing campaigns hoping to clean up its public image, only to see each effort thwarted by fresh, catastrophic scandals like wrongly repossessing 27,000 cars and foreclosing on 400 families for no reason.

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The lawsuit alleges the FHA paid hundreds of millions of dollars on insurance claims on thousands of defaulted mortgages as a result of false certifications by Wells Fargo, the fourth-biggest U.S..

Why Is Wells Fargo In So Much Trouble?. This is a problem for Wells Fargo employees because its sales culture incentivized, in fact almost by the sounds of it, demanded that they constantly be.

SEC Weighs Fraud Charges Against Navellier.. according to its disclosure about the so-called wells notice received from the commission’s staff.. Wells Fargo through smaller regional and.

Being a taxpayer-subsidized, too-big-to-fail institution, it’s possible that one of the few ways for Wells Fargo & Co. (WFC) to know what it is doing is to notify itself with a court filing. ("Wells Fargo Bank Sues Itself") As your attorney, I advise you to buy lots of Wells Fargo stock.

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A couple weeks back, news broke that wells fargo execs had been accused in a lawsuit of being well aware-since at least 2012-that the bank was improperly charging thousands of customers for.

Following the mergers, the company transferred its headquarters to Wells Fargo’s headquarters in San Francisco and merged its operating subsidiary with Wells Fargo’s operating subsidiary in Sioux Falls. Along with JPMorgan Chase, Bank of America, and Citigroup, Wells Fargo is one of the "Big Four Banks" of the United States.

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