trending Market Intelligence /marketintelligence/en/news-insights/trending/HD6rl9j5BtRBGHdobOLo5A2 content esgSubNav
In This List

Wells Fargo faces lawsuit over auto insurance policies

Blog

Insight Weekly: Private equity slows; SPAC underwriters retreat; carbon capture boost

Podcast

Street Talk | Episode 98: Regulatory scrutiny having cooling effect on community bank M&A

Blog

Insight Weekly: M&A outlook; US community bank margins; green hydrogen players' EU expansion

Podcast

Street Talk | Episode 97: Recessionary fears still keeping bank investors on the sidelines


Wells Fargo faces lawsuit over auto insurance policies

Wells Fargo & Co. is facing a lawsuit accusing the bank of trying to "bilk millions of dollars from unsuspecting customers who were forced to pay for auto insurance they did not need or want."

The proposed class action, filed July 30 in the U.S. District Court of Northern District of California, was led by Paul Hancock, who was charged $598 for auto insurance.

On July 28, Wells Fargo announced that it is offering a total of $80 million in remediation to about 570,000 auto loan customers who were affected by faulty collateral protection insurance policies.