A former Wells Fargo loan officer who was cited by the Consumer Financial Protection Bureau in May 2016 for RESPA violations in relation to “illegal mortgage fee-shifting” has filed suit against Wells Fargo for wrongful termination, whistlebower retaliation and fraud, among other allegations.
David Eghbali, who was a loan officer in Wilshire Crescent, Beverly Hills, Calif., filed the suit in California district court Jan. 16. In it, Eghbali claims that his practices were meant to protect clients from fraudulent sales practices conducted by Wells Fargo, and when the bank found out, it offered him to the CFPB as a “lone wolf” to protect its own fraud.
Read on for reaction from Wells Fargo as well as details on the allegations from the former loan officer.
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