Wells Fargo Settles for $386 Million in Auto Insurance Suit – The Truth About Cars

The car was a ghost. Coley, a mother of five, had a roughly $18,000 loan to her name for a car she never even owned, for a loan she never laid eyes on. When Faulkner intervened, Credit Acceptance returned the contract to the dealer, she said.

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Wells Fargo will reportedly pay customers a minimum of $386 million to settle class-action claims that the bank covertly signed customers up for auto insurance they did not want or need. Back in the summer of 2017, the bank found itself implicated in widespread auto insurance and mortgage lending abuses. Over a year later, Wells Fargo was slapped with a $1 billion fine from the consumer financial protection bureau and Office of the Comptroller of the Currency to settle U.S. investigations.

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 · It’s no secret that comedian and a former talk-show host is obsessed with cars and bikes. In fact, his sleek car garage hosts an almost record-breaking collection of 130 cars, 93 motorcycles, and memorabilia. The comedian is estimated at $350 million net worth, which we assume most of it invested in his insane collection.

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800,000 auto loan customers paid for unnecessary auto insurance policies, pushing nearly 250,000 of them into delinquency and resulting in nearly 25,000 unlawful vehicle

 · Wells Fargo agreed to pay at least $385 million to settle a class-action lawsuit that it allegedly scammed millions of auto-loan customers into buying insurance they didn’t need. The settlement covers customers who were bilked out of tens of millions of dollars for about 11 years through September 2016, according to court papers filed in Central California federal court.

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It is currently underwater. My mortgage is interest-only (6 percent) with Wells Fargo Bank and Freddie Mac is the owner of the mortgage. If so, do I proceed by contacting WFB? A: Yes. Borrowers can.