loanDepot Sues WCL Over Alleged Illegal Practices
loanDepot is suing West Capital Lending (WCL) for allegedly engaging in illegal hiring practices and data theft.
loanDepot claims that WCL hired hundreds of loan originators as independent contractors and paid them revenue splits, which loanDepot considers illegal.
- WCL allegedly poached hundreds of employees from loanDepot.
- WCL allegedly misappropriated trade secrets and leads in violation of federal and state laws.
loanDepot seeks injunctive relief and damages.
A spokesperson for WCL did not immediately respond to a request for comment.
Author's summary: loanDepot sues WCL over alleged illegal hiring practices.
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