On February 8, 2012, Wells Fargo Bank N.A. settled a lawsuit brought against it by Union Central Life Insurance Co. Union Life had alleged that Wells Fargo had misstated the underwriting and due diligence standards used to issue the loans that were pooled and securitized. The claims against Wells Fargo totaled approximately $43 million. Complaint. The settlement was announced during a case status conference before Judge George B. Daniels of the Southern District of New York.
