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Wolf Popper Defeats Motion to Dismiss Sought by Wells Fargo Bank, NA

Case Updates | 10/29/15

Related Case: Wells Fargo Bank, NA Truth In Lending Act (TILA) Litigation

Wolf Popper secured a precedent setting Order under the Truth in Lending Act’s (“TILA”) Regulation Z.  The Court, in denying the motion to dismiss of Wells Fargo Bank, held that the bank is required under TILA to indicate the amount of property insurance proceeds held by the bank on the plaintiff customer’s payoff statement.  The Court noted that “[n]o decision from our court of appeals has ever addressed the issue of whether TILA compels lenders to include ‘potential ‘ credits in payoff statements.”  In holding for the plaintiff, the Court found, “[a]s a matter of law, the bank is wrong on this one.”  McLaughlin v. Wells Fargo Bank, NA., No. C 15-02904 WHA, Order that TILA Required Insurance Proceeds to be Reflected in Payoff Statement (N.D. Cal. Oct. 29, 2015).

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