Weitz & Luxenberg is investigating a potential class action lawsuit against Wells Fargo following reports that customers who received auto loans from the bank were also charged for car insurance that they did not need.
According to The New York Times, the bank charged more than 800,000 customers for additional, unnecessary insurance policies. The policies, which were underwritten by National General Insurance, were automatically imposed and often more expensive than policies customers could find on their own.
The addition of these policies forced nearly 300,000 customers into delinquency, led to nearly 25,000 cars being repossessed and damaged customers’ credit. Wells Fargo has admitted to the improper insurance practices.
Weitz & Luxenberg encourages anyone who received an auto loan from Wells Fargo between 2012 and 2017 and was charged for unnecessary or unwanted auto insurance to contact the firm by calling us at (866) 916-5330 or by submitting our online form.
Weitz & Luxenberg has handled other matters related to unfair auto loans, including filing a class action lawsuit against Chrysler Capital for violating New York’s usury statute.