Wells Fargo Failed To Refund Insurance Money To People Who Paid Off Car Loans Early: Report. Wells Fargo is already facing a blitz of litigation and regulatory scrutiny after the bank announced it would reimburse $8. Now, Wells is facing a new inquiry for failing to refund insurance money as required to people who paid off car loans early, according to The New York Times. Last week, Wells Fargo announced it would reimburse $8. Regular car insurance typically covers only the current market value. Because Wells Fargo is a large auto lender, tens of thousands of customers may have been affected by the bank’s actions on GAP insurance.
It is not mandatory for car buyers to carry GAP insurance, which typically costs $4. But car dealers push the insurance, and lenders like it because of the protection it provides. When borrowers pay off the loans early, they are entitled to a refund of some of the GAP insurance premium because the coverage they paid for is no longer needed. So not only did Wells fess up to forcing unneeded collision insurance on customers—of which 2. A spokesperson for Wells told the newspaper that the issue was discovered during an internal review.
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Wells Fargo is already facing a blitz of litigation and regulatory scrutiny after the bank announced it would reimburse $80 million to 570,000 people who may have. Archives and past articles from the Philadelphia Inquirer, Philadelphia Daily News, and Philly.com. Created by Jason Katims. With Peter Krause, Lauren Graham, Dax Shepard, Monica Potter. The lives and tragedies of the Braverman family tree. Biography Movies Watch The Bronze (2016). It was game night and my sexy blonde girlfriend was getting ready to lead the cheerleading squad, and she looked good! If you don’t think school girls in their.
Failing to refund insurance money could wind up increasing the total amount owed by a consumer, as the Times notes, and that figure can take a whack on someone’s credit report. Psp Ipod Movies Darkness Rising (2017). What a mess. Have a tip about Wells Fargo and its auto lending practices?
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