Probe of Wells auto in­sur­ance

Los Angeles Times - - THE WEEK -

New York’s state in­sur­ance reg­u­la­tor is in­ves­ti­gat­ing the re­cent rev­e­la­tion that Wells Fargo forced auto in­sur­ance poli­cies on bor­row­ers who didn’t need them. The San Fran­cisco bank ac­knowl­edged it charged 570,000 au­toloan bor­row­ers for the un­nec­es­sary in­sur­ance. The New York De­part­ment of Fi­nan­cial Ser­vices has sub­poe­naed the bank’s records over those poli­cies.

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