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.
NYS Entity Status
NYS Filing Date
JULY 31, 2013
NYS DOS ID#
NYS Entity Type
DOMESTIC BUSINESS CORPORATION
2013 - EASTCHESTER AUTO COLLISION, INC.
AROUND THE WEB
- Wells Fargo forced unwanted auto insurance on borrowers
By Gretchen Morgenson - Friday Jul 28, 2017
- Police drag driver out of burning car after he refuses to leave
By Associated Press - Wednesday Aug 2, 2017
PELHAM, N.H. — New Hampshire police say they were forced to drag a driver out of his burning car after it crashed into a tree and he refused to leave, telling them he was a mechanic. Police say a witness reported the crash in Pelham on Monday night and said the driver didn’t want help...
- NY insurance company dragged into Wells Fargo scandal
By Kevin Dugan - Tuesday Aug 1, 2017
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...
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Chris Lattner, who Tesla announced in January was hired from Apple Inc. as vice president of Autopilot software, has left Elon Musk’s Silicon Valley auto maker.