This website contains information about a proposed settlement in Taylor, et al. v. Wells Fargo Home Mortgage, Case No. 24-C-02-001635 ("Taylor"), a class action which was filed on March 26, 2002, in the Circuit Court for Baltimore City, Maryland.      

In the Taylor lawsuit, among other claims, Plaintiffs allege that, as a condition of doing business with Wells Fargo, Wells Fargo required many mortgage brokers to act as both the mortgage broker and lender in each mortgage loan transaction.  Plaintiffs allege that this practice violates the provisions of Maryland’s Finder’s Fee Act. Plaintiffs also allege that this arrangement violates Maryland’s Consumer Protection Act (“MCPA”), and gave rise to causes of action for civil conspiracy. 

The settlement requires approval by the Court.  The Court has scheduled a Final Approval Hearing for April 14, 2010 in the Circuit Court for Baltimore City, Maryland to determine whether the proposed settlement is fair, adequate and reasonable.