Investigation of Wells Fargo Forced Auto Insurance
According to a recent New York Times article by Gretchen Morgenson, Wells Fargo has been forcing unwanted auto insurance on borrowers. Allegedly, the unwanted insurance coverage for collision damage, "pushed roughly 274,000 Wells Fargo customers into delinquency and resulted in almost 25,000 wrongful vehicle repossessions, according to the 60-page report, which was obtained by The New York Times." Furthermore, the unneeded insurance was "more expensive than auto insurance that customers often already had obtained on their own."
Giskan Solotaroff & Anderson is currently investigating this issue, and its potential for a class action lawsuit. If you are one of the "more than 800,000 people who took out car loans from Wells Fargo [and] were charged for auto insurance they did not need," please contact us immediately!