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. . . .

Scott Bradford has been putting his opinions on his website since 1995—before most people knew what a website was. He has been a professional web developer in the public- and private-sector for over twenty years. He is an independent constitutional conservative who believes in human rights and limited government, and a Catholic Christian whose beliefs are summarized in the Nicene Creed. He holds a bachelor’s degree in Public Administration from George Mason University. He loves Pink Floyd and can play the bass guitar . . . sort-of. He’s a husband, pet lover, amateur radio operator, and classic AMC/Jeep enthusiast.