Wells Fargo Now Expects To Pay $130 Million To Customers Affected By Auto Insurance Scandal

Wells Fargo now projects it’ll pay $50 million more than previous expected to people affected by a widespread auto insurance scandal, bringing the total to $130 million, according to a filing with the Securities and Exchange Commission. The practice involved selling auto insurance to about 800,000 customers who didn’t…

How Wells Fargo Screwed $80 Million Out Of Customers Using Unnecessary Car Insurance

A week after New York resident Juan Thomas bought a 2004 BMW 745i, in December 2012, the bank that financed the purchase—Wells Fargo—contacted him to say that he needed additional auto insurance for the vehicle. This was a bit odd, mainly because the car was already insured. “It didn’t sound right to me,” Thomas said.…