Exclusive: N.Y. regulator subpoenas Wells Fargo over unwanted auto insurance

Categorized | STOP FORECLOSURE FRAUD

Exclusive: N.Y. regulator subpoenas Wells Fargo over unwanted auto insurance

Exclusive: N.Y. regulator subpoenas Wells Fargo over unwanted auto insurance

REUTERS-

New York state’s banking and insurance regulator has issued subpoenas to two Wells Fargo & Co units after the bank admitted to charging several hundred thousand borrowers for auto insurance they did not ask for or need, causing many delinquencies.

The New York Department of Financial Services is demanding Wells’ loan contracts with New York borrowers, its financing agreements with auto dealers, and agreements between Wells units and insurers, according to copies of the subpoenas that were issued on Tuesday and seen by Reuters.

Unwanted auto insurance is the latest chapter in a months-long scandal over sales practices at Wells, where employees also created as many as 2.1 million deposit and credit card accounts in customers’ names without their permission.

The New York regulator is also see…

[REUTERS]

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Comments

comments

This post was written by:

- who has written 8715 posts on FORECLOSURE FRAUD | by DinSFLA.

CONTROL FRAUD | ‘If you don’t look; you don’t find, Wherever you look; you will find’ -William Black

Contact the author

Leave a Reply

GARY DUBIN LAW OFFICES FORECLOSURE DEFENSE HAWAII and CALIFORNIA
Advertise your business on StopForeclosureFraud.com

Archives