You are here: Home » Companies » News
Business Standard

Wells Fargo to settle $386-mn insurance suit

The agreement would resolve a lawsuit filed in July 2017, shortly after The New York Times published the results of an internal report the bank had commissioned on the matter

The New York Times 

Wells Fargo has reached a $386 million deal to settle a class-action lawsuit brought by customers who say the bank forced them to buy unnecessary auto insurance, putting to rest one of its many legal problems. The agreement, described in court papers filed Thursday, would resolve a lawsuit filed in July 2017, shortly after The New York Times published the results of an internal report the bank had commissioned on the matter. The report found Wells Fargo had for years been buying a certain kind of auto insurance from National General Insurance and applying it to auto loan ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Sun, June 09 2019. 00:06 IST
RECOMMENDED FOR YOU