County of Cook v. Wells Fargo & Co.

Memorandum Opinion and Order

Gary Scott Feinerman, United States District Judge

County of'Cook, Illinois, alleges in this lawsuit that Wells Fargo & Co., Wells Fargo Financial, Inc., Wells Fargo Bank, N.A., and 375 unnamed Wells Fargo entities (collectively, “Wells Fargo”) issued predatory subprime mortgage loans that over the years went into default and drove the mortgaged properties into foreclosure. According to Cook County, because the resulting urban blight and reduced property tax base was concentrated in the county’s heavily minority neighborhoods, Wells Fargo’s practices violated Title…