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Wells Fargo Charged 800,000 Customers for Fake Car Insurance, Stole 25,000 Cars—Nobody Charged
According to an internal report from the bank’s executives 800,000 people who took out car loans from Wells Fargo were charged for auto insurance they did not need, additional expenses “pushed roughly 274,000 Wells Fargo customers into delinquency, 25,000 wrongful vehicle repossession.”2010, Wells Fargo came under fire for stealing millions from its customers through excessive overdraft fees. 2016, Wells Fargo admitted that it “falsely certified that many of its home loans qualified for Federal Housing Administration insurance. September 2016, federal regulators revealed that Wells Fargo employees had secretly created nearly 2 million unauthorized bank and credit card accounts since 2011. Customers were forced to pay fraudulent charges, employees who created the accounts were rewarded with sales bonuses.”
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