Melero v. Wells Fargo Bank
Raymundo Melero and his wife, Rosa Melero (collectively the Meleros), filed a complaint in which they alleged that Wells Fargo Bank, N.A. (Wells Fargo) fraudulently induced them to enter into mortgage loans that they could not afford. The Meleros brought claims for fraudulent misrepresentation, negligence, and unfair competition (Bus. & Prof. Code, § 17200),[1] among other causes of action.
Wells Fargo filed a motion for judgment on the pleadings. The trial court granted the motion and entered a judgment of dismissal. On appeal, the Meleros contend that they adequately stated a fraud claim based on alleged misrepresentations by Wells Fargo that the loans had "consistent low monthly payments amortized over thirty years," and that the loans "would be affordable" and "would benefit" them. With respect to their negligence cause of action, the Meleros claim that they adequately alleged that Wells Fargo breached a duty to truthfully assess the affordability of the loans. Finally, the Meleros maintain that they adequately stated a claim for unfair competition based on Wells Fargo's fraudulent and unfair conduct. We reject each of the Meleros' claims and affirm the judgment.
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