Wells Fargo auto insurance News

Regulators Reject Wells Fargo’s Plan to Repay Insurance Customers: Reuters

U.S. regulators have rejected Wells Fargo & Co.’s plan to repay customers who were pushed into unnecessary auto insurance, telling the bank it must do more to ensure it has found and compensated every affected driver, three sources familiar with …

Wells Fargo Facing Possible Record Fine for Insurance, Mortgage Sales Abuses

The top U.S. watchdog for consumer finance is seeking a record fine against Wells Fargo & Co that could exceed several hundred million dollars for auto insurance and mortgage lending abuses, according to three sources with knowledge of the plans. …

Senators Quiz Wells Fargo CEO, Express Doubt Bank Will Change Ways

U.S. senators slammed Wells Fargo & Co. Chief Executive Tim Sloan on Tuesday for his handling of a massive sales practices scandal at the third-largest American bank and challenged him to allow aggrieved customers to sue. Wells Fargo has disclosed …

Wells Fargo CEO to Face Senators Over Consumer Lending, Auto Insurance Sales Scandals

Wells Fargo & Co. CEO Tim Sloan will be questioned about sales practices, mischarging customers for auto insurance, and complaints about mortgage fees at the bank’s consumer lending unit when he testifies before U.S. senators on Tuesday. The U.S.’s third-largest …

Senators Have Questions for Wells Fargo on Auto Insurance Scandal

A group of U.S. senators from both parties on Wednesday turned up the heat on Wells Fargo Inc. over its latest scandal, in which hundreds of thousands of car-loan borrowers were charged each month without their knowledge for collision insurance, …

Yet Another Auto Insurance Issue for Wells Fargo: Reports

Wells Fargo & Co.’s U.S. regulators are looking into another issue involving insurance linked to auto loans as scrutiny of a key lending unit widens, according to people with knowledge of the matter. The Office of the Comptroller of the …

Democrats Want to Question Wells Fargo on Auto Insurance Sales

Democratic lawmakers pushed on Tuesday for another chance to question Wells Fargo & Co.’s leadership about sales practices after the scandal-hit bank said it forced auto insurance on borrowers who did not need it. Democrats on the Senate Banking Committee …

Wells Fargo’s Latest Scandal: Selling Customers Auto Insurance They Didn’t Need

Fraudulent bank accounts, bogus credit cards, compromised customer data and, now, unwanted car insurance. Wells Fargo & Co., it seems, just can’t stay out of trouble. News late last week that the lender may have charged more than 500,000 people …