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Thursday, August 03, 2017

Who Snatched My Car? Wells Fargo Did

Wells Fargo is back in the spotlight for another scandal. This time, for signing up 490,000 auto-loan customers for insurance they didn't need.

This comes less than a year after the bank generated a massive public outcry for opening millions of unwanted accounts for customers.

Customers who already had car insurance say they had no idea they were being charged for this insurance from Wells Fargo. And the bank acknowledges that tens of thousands of people wound up in default, which affected people's credit scores, and thousands had their cars repossessed.

One of them was Michael Feifer.

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3 comments:

Anonymous said...

I have my new car loan with Wells Fargo. Purchased the car back in December of 2016. Pohanka did the paperwork and I provided for them all my documentation and paperwork showing my current insurance information was up to date. So far I haven't had any problems with them. I make my monthly loan payments online and I can check my account at anytime. I would have preferred another bank, but I got a great interest rate so I stayed with them. No complaints so far.

Anonymous said...

I'm surprised that Wells Fargo didn't sell them "mandatory" plastic seat covers.

Anonymous said...

Same here, 9:43