Connecticut Officials Demand Action from Wells Fargo - NBC Connecticut
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Connecticut Officials Demand Action from Wells Fargo

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    NEWSLETTERS

    CT Officials Demand Action from Wells Fargo

    (Published Tuesday, Aug. 29, 2017)

    More than 5,000 people in Connecticut were part of the latest chapter of Wells Fargo scandals, this time involving its loan customers taking out extra auto insurance.

    U.S. Senator Richard Blumenthal is calling for an investigation and wants impacted Wells Fargo customers to speak up.

    Nationwide, more than 800,000 people received charges for car insurance they did not need. That led to 274,000 delinquencies and 25,000 wrongful vehicle repossessions.

    In a statement, a Wells Fargo spokesperson told NBC News:

    "Wells Fargo discontinued its collateral protection insurance program in September 2016 after finding errors in our procedures that negatively impacted some customers. We are truly sorry for any inconvenience this caused our customers and are in the process of notifying them and making things right."

    The company plans to pay $80 million to those who qualify, but Senator Blumenthal says, when considering the number of people affected, it just doesn't add up.

    "Many were charged as much as $1,000 a year and stand to receive only 140 dollars, that's an egregious outrageous insult added to injury," said Blumenthal. "And if you let us know who you are, we can help you."

    Blumenthal asks impacted customers to call Wells Fargo at 1-800-289-8004 and to contact his office directly.


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