Lance Baird filed a lawsuit against Wells Fargo after receiving a refund for float fees he claims he never agreed to during the mortgage origination process. The bank admitted to mistakenly charging such fees and sent cashier's checks to affected customers. The suit alleges that the bank's failure to explain the error or refund calculations prevents consumers from assessing damages. Seeking class action certification, the suit includes over 100 members, with potential damages exceeding $5 million. Wells Fargo has not commented on the matter.
The lawsuit alleges that Wells Fargo mistakenly charged float fees during the mortgage origination process for over a decade. It asserts that the bank failed to explain the error or refund calculations.
Baird filed the lawsuit to address the lack of transparency from Wells Fargo regarding the float fee refund process, claiming it was impossible for consumers to assess damages.
Collection
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