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3.1 Million Dollar Fine Tag

Wells Fargo Ordered by Bankruptcy Judge to pay $3.1 Million Penalty

A bankruptcy judge in Louisiana recently ordered Wells Fargo to pay $3,171,154.00 in punitive damages for violating the automatic stay.  The Huffington Post has a great summary of the case.  To read the complete bankruptcy judge's decision, click here.Here is a super short summary of the case:The debtor was in an active Chapter 13 bankruptcy case.  During this case, Wells Fargo did not apply all of his payments correctly.  Later in the case, the debtor applied for a motion to refinance his house.  Wells Fargo added a significant amount of extra charges to his balance owed.  To complete the refinancing,...

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