Wells Fargo agrees to $3M shareholder settlement over unnecessary auto insurance sales

February 13, 2023February 10, 2023 H. Cutner

The bank agreed to settle a lawsuit from shareholders claiming the bank pushed car loan customers to buy. Wells Fargo & Co. has agreed to a $300 million settlement in order to settle a lawsuit from shareholders, accusing the bank of having pushed unnecessary auto insurance on loan customers, according to recently filed US court documents. The class action suit was launched by the Construction Laborers Pension Trust for Southern California. The auto insurance suit led to a class action brought on behalf of investors. The Construction Laborers Pension Trust…

Wells Fargo insurance customers seek credit repair for auto policy scandal

August 7, 2017August 5, 2017 G. Turner

Frustrated Auto insurance product Wells Fargo

Borrowers forced to pay for unnecessary auto policies now want the damage to their credit scores fixed. New developments have arisen as a result of the Wells Fargo insurance scandal as customers seek to put right the damage done to their credit. Many of the customers have already filed a class action lawsuit to be compensated for the money they lost, but they are concerned about their credit histories. The bank’s own investigations found hundreds of thousands of customers were charged for unnecessary auto insurance. The added Wells Fargo insurance…

Wells Fargo insurance scheme brings lawsuit from customers

August 2, 2017July 31, 2017 Logan B.

lawsuit Usher’s insurance broker company

Borrowers forcibly made to purchase auto coverage they didn’t need are suing the bank for scamming them. Wells Fargo & Co has been accused of running an insurance scheme, as was reported yesterday by Live Insurance News, and now affected customers are filing a lawsuit against the bank. Customers allege the bank forced them to pay for auto insurance they didn’t need and that caused financial hardship. In yesterday’s article, it was pointed out that the insurance scheme caused many customers to face expenses they couldn’t afford. This led several…