December 11, 2018
Wells Fargo & Co. must keep a lid on its growth until the bank has hardened its risk management policies to prevent any further abuse of its customers, said Jerome Powell, chairman of the Federal Reserve. In February, the Fed …
November 26, 2018
Wells Fargo & Co. is fighting to shut some customers out of a sweeping plan to compensate around 600,000 drivers it pushed into car insurance they did not need, according to court documents and a source familiar with the effort. …
November 21, 2018
Santander Consumer USA Holdings Inc., a leading subprime auto lender, will pay $11.8 million to settle claims that it misled customers about the cost and terms of auto loans and insurance, a U.S. consumer watchdog said on Tuesday. Santander Consumer, …
November 7, 2018
Wells Fargo & Co. executives were warned that an auto insurance plan could be overcharging customers four years before the bank scrapped the program, according to a complaint released by a judge this week. Several executives, including then-General Counsel James …
October 30, 2018
Wells Fargo & Co. will not finish paying back the estimated 600,000 customers it wrongly charged for auto insurance until at least 2020, the bank said in a letter to U.S. lawmakers seen by Reuters. U.S. regulators slapped Wells Fargo …
October 3, 2018
Wells Fargo & Co. has not convinced U.S. regulators it is doing enough to repay 600,000 drivers who were wrongly pushed into buying auto insurance, a leading bank regulator said on Tuesday. “We are not comfortable where we are with …
September 19, 2018
Flood insurance was far from Stephanie Walker’s mind in 2015 when she moved her family into a home in Fayetteville in central North Carolina, nearly 200 miles (320 km) from the coast. The next year, a creek at the end …
September 13, 2018
When Hurricane Matthew submerged the small town of Fair Bluff, North Carolina, two years ago, Eve Waddell thought she had witnessed a once-in-a-lifetime disaster. “You’ll never see that again,” she reassured her daughter Ella, then 4, after floodwaters surged over …
September 12, 2018
U.S. regulators have rejected Wells Fargo & Co.’s plan to repay customers who were pushed into unnecessary auto insurance, telling the bank it must do more to ensure it has found and compensated every affected driver, three sources familiar with …
August 30, 2018
A unit of European lender Banco Santander SA has agreed to settle claims by a U.S. consumer watchdog that it misled drivers about the costs of loans and the coverage of related insurance policies, said three people with direct knowledge …