The New York insurance company that wrote policies for 800,000 questionable Wells Fargo auto loans has been dragged into the bank’s latest scandal. National General Insurance was named in a class-action lawsuit filed against the bank — for allegedly unduly profiting from $80 million in collateral protection insurance that the drivers didn’t need — and...
NYS Entity Status
NYS Filing Date
MARCH 05, 2014
NYS DOS ID#
NYS Entity Type
DOMESTIC BUSINESS CORPORATION
2014 - ACTIVE AUTO INSURANCE AGENCY, INC.
AROUND THE WEB
- NY insurance company dragged into Wells Fargo scandal
By Kevin Dugan - Tuesday Aug 1, 2017
- Wells Fargo forced unwanted auto insurance on borrowers
By Gretchen Morgenson - Friday Jul 28, 2017
More than 800,000 people who took out car loans from Wells Fargo were charged for auto insurance they did not need, and some of them are still paying for it, according to an internal report prepared for the bank’s executives. The expense of the unneeded insurance, which covered collision damage, pushed roughly 274,000 customers into delinquency and resulted in almost 25,000 wrongful repossessions, according to the 60-page report, which was obtained by the New York Times. Among the Wells Fargo customers hurt by the practice were service members on active duty.
- Economic Trends: To Understand Rising Inequality, Consider the Janitors at Two Top Companies, Then and Now
By NEIL IRWIN - Sunday Sep 3, 2017
Focusing on core competence and outsourcing the rest has made U.S. companies lean, nimble and productive. It has also left lots of people worse off.
- Hurricane Harvey hits stocks of insurers and auto giants
By Carleton English - Monday Aug 28, 2017
As Houston grapples with Hurricane Harvey, Wall Street is reeling in its aftermath. Energy stocks plunged into the red as much refining activity around the Texas coast came to a ”standstill,” Jack Ablin, chief investment officer at BMO Private Bank, told The Post. “That’s pushing demand for crude lower and reducing supply for refined products,...
- Will Harvey Soak Auto Insurers?
Tuesday Aug 29, 2017
Home insurance doesn’t cover floods, but auto insurers will have to pay up for all of those sunken cars in Houston.
- Wells Fargo Forced Unwanted Auto Insurance on Borrowers
By GRETCHEN MORGENSON - Thursday Jul 27, 2017
An internal report shows customers with car loans had costly, unnecessary insurance tacked onto their bills, and 274,000 were pushed into delinquency.