Wells Fargo agrees to $385M settlement for auto insurance scheme – Charlotte Business Journal

Wells Fargo & Co said on Tuesday it agreed to sell its commercial insurance business to private insurer USI Insurance Services, as the third-largest U.S. bank plans to focus on core banking.

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Wells Fargo & Co.’s U.S. regulators are looking into another issue involving insurance linked to auto loans as scrutiny of a key lending unit widens, according to people with knowledge of the.

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The internal report highlighted a big problem with the insurance: Many customers were charged for auto insurance, even though they already had their own, cheaper policies. The wells fargo-backed policies could cost as much as $1,000 per year, plus interest if people didn’t pay up front, the Times says.

Wells Fargo & Co. released new information on Friday about building its Strategic Execution and Operations Office – a move in response to regulatory backlash following multiple scandals at the.

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Wells Fargo agrees to $385M settlement for auto insurance scheme – Charlotte Business Journal Iran’s semi-official ILNA news agency says hackers took down the. The Social Security Organization is a non-governmental body that provides insurance coverage for wage-earners, salaried..

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Wells Fargo Pays $4 Million to Settle Claims of Auto Loan abuses. wells fargo has yet again found itself in hot water. In what is just the latest incident in a string of bad publicity, the bank has agreed to change its policies and pay more than $4 million in a settlement with the U.S. Department of Justice for allegedly violating.