Regions Bank and others defrauded 14,000 investors, mostly in Latin America, by using 2,000 unregistered sales agents to charge “exorbitant undisclosed fees and commissions” in the sale of mutual funds to investor trusts, a class action claims in Miami Federal Court. Also sued are Union Planters Bank, Wells Fargo Bank, Wachovia/First Union Corp., and First Union National Bank of Florida.

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