Wells Fargo agrees to $385M settlement for auto insurance scheme – Charlotte Business Journal

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Wells Fargo has agreed to a settlement in an alleged insurance scam that was one of a series of scandals involving the company’s handling of customers’ accounts. Wells Fargo & Co. agreed to pay at least $385 million to customers who say they were signed up for auto insurance without their.

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Wells Fargo & Co. has agreed to pay at least $385 million to settle a lawsuit after saddling millions of customers By: by Caroline Hudson, Charlotte Business Journal. Wells Fargo charged interest each month on the insurance premium before applying payments to a customer’s principal balance.

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: THE BUSINESS TIMES Banking & Finance – [NEW YORK] Wells Fargo The report found Wells Fargo had for years been buying a certain kind of auto insurance from National General Wells Fargo, the nation’s fourth-biggest bank, said it had already committed to using most of the settlement.

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Wells Fargo & Co. said Friday it has agreed to spend at least $67 million on homeowner assistance and other initiatives as part of a settlement around the lender’s The settlement is tied to a suit filed on behalf of shareholders in 2011 that alleged Wells Fargo employees approved legal documents.

Share. Tweet. Share. Share. Share. Print. Email. Wells Fago has come to a settlement agreement with customers whose personal information their staff used to set up fake bank and credit card accounts. With this announcement.

Wells Fargo has agreed to pay at least $385 million to settle a California lawsuit alleging it signed up thousands of auto loan customers for costly car insurance without their consent, resulting in many having their vehicles repossessed. The bank filed the agreement Thursday in a federal court in Santa.