trending Market Intelligence /marketintelligence/en/news-insights/trending/wjkuhex8tm5bhhw0ey565g2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *

* Required

In this list

DOJ fines Wells $4.1M for servicemembers' car repossessions


Power Forecast Briefing: Fleet Transformation, Under-Powered Markets, and Green Energy in 2018

Outdoor/Out-Of-Home Ad Revenue Projections: Digital To Drive Growth

Asia And Europe Continue To Dominate The UHD Scene

Mining Exploration Insights: Metals and Mining

DOJ fines Wells $4.1M for servicemembers' car repossessions

Wells FargoBank NA (d/b/a Wells Fargo Dealer Services) will pay more than $4.1million in connection with the U.S. Justice Department's claims that it repossessed413 cars in violation of the Servicemembers Civil Relief Act.

The Act prevents some civil cases against servicemembersfrom proceeding while the defendants are in military service. The DOJ began itsprobe in March 2015 and "found a pattern of unlawful repossessionsspanning over more than seven years," according to the press release.

The deal, which has yet to receive court approval, will seeWells pay $60,000 to the government and $10,000 each to eligibleservicemembers, plus lost equity in the vehicle with interest. Affectedclients' credit must also be repaired. At the same time, however, Civil RightsDivision Head Vanita Gupta "[commended Wells Fargo & Co.] for owning up to its shortcomingsand providing all the information" requested by the agency.

The OCC has reached a separate accord with Wells regardingthe violations.