Shostack + Friends Blog Archive


Wells Fargo vs Wells Fargo


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.

“Due to state foreclosure laws, lenders are obligated to name and notify subordinate lien holders,” said Wells Fargo spokesman Kevin Waetke.

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.

(My attorneys will be ensuring that Dave Birch is appropriately notified that I appreciate his pointing this out.)

2 comments on "Wells Fargo vs Wells Fargo"

  • tim says:

    The problem with the article is Al Lewis gets so much wrong in that piece (well that’s nothing new for him) that its impossible to know what the real situation actually is. Its an rant. I’ll wait until someone more informed on the topic writes about it before casting judgment.

  • Chris Walsh says:

    Say what you want about his article-writing, but Al Lewis was awesome in The Munsters.

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