Recent Wells Fargo Insurance Scandal May Mean You Can Recoup Serious Losses

August 15, 2017

In late July, news broke that Wells Fargo’s auto lending division had been charging thousands of customers for auto protection that they did not need, did not want, and did not know about as they were making monthly loan payments for their vehicle. As the result, several of these customers fell victim to repossessions that tanked their credit and, in many cases, their credibility. After various complaints from customers who noticed they had unwittingly been charged for auto protection, an internal investigation concluded that more than 500,000 clients were being duped into these extra costs, with some 25,000 of those individuals having experienced repossessions.

 Wells Fargo’s most recent lack of oversight comes on the heels of last year’s scandal where it was revealed that millions of unauthorized accounts had been opened for customers by bank tellers at branches throughout the nation. While talking heads for Wells Fargo have expressed carefully crafted apologies to deter more bad press, the fact remains that repossessions equal collateral damage on people’s lives. Moreover, Wells Fargo declined to bring these matters public while dealing with the ongoing unauthorized-accounts scandal despite findings that the bank had been investigating the auto lending issues for a solid year. If that seems shady to you, it’s likely that your instincts are correct.

 Wells Fargo said that they intend to pay out $80 million to affected clients with extra money allotted toward those 25,000 people who lost their cars. A class-action lawsuit is currently underway to ensure that those affected do indeed receive the reparation they deserve. Whether the result of dishonesty, neglect, or some combination of the two, Wells Fargo’s now apparent indiscretion means that people have suffered immense losses at the hands of an institution they trusted.

 If you are a Wells Fargo customer who had an auto loan and/or an auto insurance policy through Wells Fargo from 2012 to 2017, you may be eligible to join in the class-action suit to recover damages lost. Heninger Garrison Davis seeks to make certain that those wronged through Wells Fargo’s recklessness are compensated adequately. Contact one of our attorneys today to begin the process of recouping your money. Even if you aren’t sure you want to file, contacting our skilled team at Heninger Garrison Davis can allow you to fully realize your options at no cost to you. In fact, Heninger Garrison Davis attorneys only charge attorneys’ fees if you win your case, meaning that if you don’t get paid, we don’t get paid. Call us at 1-800-241-9779 or fill out our form online today to explore your legal options!

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