Keller Rohrback L.L.P. Investigating Reports Wells Fargo Forced Insurance on Auto Loan Customers
July 28, 2017
Keller Rohrback L.L.P., the firm that filed the first class action on behalf of consumers in the Wells Fargo fake account scandal, resulting in a $142 million settlement—is investigating reports that Wells Fargo (NYSE: WFC) charged auto loan borrowers millions of dollars for insurance they did not need.
According to The New York Times, Wells Fargo has admitted to the practice, which reportedly resulted in hundreds of thousands of customers going into delinquency on their loans, and over 20,000 customers losing their vehicles to repossession.
“This appears to be another disturbing example of Wells Fargo taking advantage of their customers,” said Gretchen Freeman Cappio, a Keller Rohrback partner. “Wells Fargo’s repeated, unconscionable conduct makes it the poster child for why it’s crucial for consumers to be able to use our court system to protect their rights and hold the bank accountable.”
According to an internal report obtained by The Times, Wells Fargo required its customers to whom it issued auto loans to buy National General Insurance policies. But that insurance was often more expensive than insurance those customers already had. The practice may have extended as far back as 2006.
At a minimum, reports indicate that Wells Fargo may owe its customers as much as $73 million, and the practice may have damaged customers’ credit, according to the report.
If you believe Wells Fargo may have improperly charged you for insurance on your Wells Fargo auto loan and you would like to learn more about your rights, contact attorney Gretchen Freeman Cappio at (800) 776-6044 or via email at to discuss our investigation and your potential legal claims.
About Keller Rohrback L.L.P.
Keller Rohrback L.L.P. is a leader in representing consumers in class action lawsuits in diverse areas such as bank fraud, vehicles, children’s products, and mortgage modifications. Keller Rohrback L.L.P. was the first law firm to file a class action complaint against Wells Fargo for opening fraudulent accounts in their customers’ names. A federal court recently granted preliminary approval to a $142 million settlement in that case.
The firm’s record of success includes settlements against JP Morgan Chase, Mattel, Crayola, and Anthem Health Insurance. Managing partner Lynn Sarko was appointed to the Plaintiffs’ Steering Committee in the landmark Volkswagen “Clean Diesel” litigation and similar pending litigation against Fiat Chrysler.
With offices in Seattle, Phoenix, New York, Montana, Oakland, and Santa Barbara, Keller Rohrback L.L.P. serves as lead and co-lead counsel in class actions throughout the country. Our Complex Litigation Group is proud to offer its expertise to clients nationwide, and our trial lawyers have obtained judgments and settlements on behalf of clients in excess of eighteen billion dollars.
Attorney Advertising. Prior results do not guarantee a similar outcome. Not licensed to practice law in all States. Please refer to our website for details. The choice of a lawyer is an important decision and should not be based solely upon advertisement.