Wells Fargo vs. … Wells Fargo
Once upon a time, I did my banking with First Union. First Union bought-out a smaller company called Wachovia and, in a curious twist, renamed itself to Wachovia. Then Wachovia went under in the midst of the mortgage implosion, and got bought-out by Wells Fargo. I still have the same checking account I opened with First Union in 2001 or so, which is now technically a Wells Fargo account (even though I still do my banking at Wachovia-branded web sites and branches).
As a Wells Fargo customer, I found it pretty interesting to hear that Wells Fargo has filed court papers in Florida to sue…itself. According to Al Lewis writing for Dow Jones Newswires, Wells Fargo Bank NA is suing Wells Fargo Bank NA. The firm has even hired two separate law firms to represent each side of the case.
Apparently Wells Fargo holds the first mortgage on a Florida condo and, as part of the process of foreclosing, they sued all other lien holders with an interest in the property…including itself, holder of a second mortgage on the same condo.
Strange times indeed….
