Wells Fargo Auto Loans

Levi & Korsinsky, LLP is investigating allegations that Wells Fargo Bank, N.A. and National General Insurance Company forced the placement of insurance on Wells Fargo auto loan customers without their knowledge or consent. In some cases, they may even have arranged for monthly premiums to be fraudulently withdrawn from those customers’ bank accounts.

The auto insurance policies at issue in this case are commonly referred to as Collateral Protection Insurance (“CPI”) which are similar to auto insurance policies commonly taken out by vehicle owners to cover the cost of damage to their vehicle. Neither Wells Fargo nor National General, which underwrote the CPI policies, checked their internal database to see if their customers had insurance coverage, or, if they did, they simply ignored what they learned. Instead, Wells Fargo and National General enrolled Wells Fargo loan customers into auto insurance coverage and then automatically deducted the cost of the CPI insurance from customers’ bank accounts along with the regularly scheduled principal and interest payment for the auto loan.

If you had Wells Fargo auto insurance and did not sign up for it, learn more.

To get more information regarding the investigation of Wells Fargo , without cost or obligation, please call us at 877-363-5972 or complete our contact form.

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