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Wells Fargo Subpoenaed Over Alleged Insurance Scheme That Resulted In 25,000 Vehicle Repossessions

Wells Fargo Subpoenaed Over Alleged Insurance Scheme That Resulted In 25,000 Vehicle Repossessions

7 years ago
Anonymous $V7g1X9rE3i

https://consumerist.com/2017/08/02/wells-fargo-subpoenaed-over-alleged-insurance-scheme-that-resulted-in-25000-vehicle-repossessions/

Less than a week after a report alleged, and Wells Fargo admitted, to charging its auto loan customers for unnecessary and unwanted insurance, the bank has been subpoenaed by New York state banking and insurance regulators over the matter. 

Reuters reports that the New York Department of Financial Services sent subpoenas to two of Wells Fargo’s banking units today in order to determine just how long the bank was aware of the unwanted insurance charges and the steps it has taken to resolve the issues.