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

Wells Fargo has agreed to pay at least $385 million to settle a California lawsuit alleging it signed up thousands of auto loan customers for costly car insurance without their consent, resulting.

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Wells Fargo & Co. has agreed to pay at least $385 million to settle a lawsuit after saddling millions of customers with auto insurance that they neither needed nor wanted.

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Signature Bank (SBNY), a New York-based full-service commercial bank, announced today it ranked second in the U.S. in three categories of the National Law Journal’s eighth annual readers’ poll.

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Wells Fargo and Bank of America are banning cash deposits into other consumers’ accounts, citing security concerns. But some will see it as another move to sweep bank branches into the dustbin of history, joining yesteryear’s drive-in theaters, Business One News Page: Monday, 27 November 2017

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Wells Fargo & Co. (NYSE: WFC) agreed to pay a $65 million settlement on Monday for fraudulent statements to investors. The penalty stems from Wells Fargo’s cross-selling business, in which employees sell new products or services to existing customers.

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 earned a commission on the premiums, according to the Times. Many customers were charged for auto insurance, even though they already had their own, cheaper policies.

Wells Fargo To Repay Homeowners Stuck With forced-place insurance 3.6.14 2:14 PM EDT By Chris Morran @themorrancave getting settled forced-place insurance wells fargo lawsuits insurance

Meron to 33 months in prison for two counts of wire fraud related to a scheme by Meron’s companies, WOW Imaging Products LLC and Time Enterprises LLC, both based in Roseville, according to a news.

Live Well Financial CEO sued for repayment of $80M in loans – Richmond BizSense Fifth Third Bank sets stage for nationwide expansion by applying for national bank charter Former CFPB deputy director reportedly joining Capital One – Meredith Fuchs, who recently stepped down as acting deputy director of the consumer financial protection bureau, is joining Capital One as the bank’s senior vice president. In this role, he helps.Wells Fargo to pay $2.09 billion fine over decade-old. – Wells Fargo has agreed to pay $2.09 billion in penalty to settle claims related to mortgage loans originated in the run-up to the financial crisis. The civil fine is for alleged origination and sale of residential mortgage loans that the lender knew contained misstated income information and did not meet the quality that Wells Fargo represented.