Wells Fargo

Former banker sues Wells Fargo, says he blew whistle on mortgage practices

Former banker sues Wells Fargo, says he blew whistle on mortgage practices

A former Wells Fargo mortgage banker in Beverly Hills who was fired and later fined by federal regulators has sued the bank, saying he was used as a scapegoat and that regulators ignored his attempts to report bad practices.

David Eghbali, who had been one of the bank’s top mortgage bankers, said the bank fired him improperly as part of a scheme to focus investigators “on David’s possible minor violations … and away from Wells Fargo’s own predatory mortgage pricing policies.”

Specifically, Eghbali said the actions that led to his firing and to a fine levied by...

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