Published 3 years ago

$400M Suit Says Wells Fargo Failed to Protect RMBS Investor

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$400M Suit Says Wells Fargo Failed to Protect RMBS Investor

Taconic Capital Advisors filed a $400 million suit against Wells Fargo alleging the financial giant failed to protect its investment in residential mortgage-backed securities, despite knowing many of the loans could be worthless. In a complaint filed in New York Supreme Court, Taconic accused Wells Fargo of breach of contract for doing nothing to fix problematic documentation for a number of home loans that were bundled into trusts and resold to…

3 years ago·New York, United States

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