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I am about sick and tired of Wells Fargo -- Charging auto insurance without customers' knowledge

Established Contributor

I am about sick and tired of Wells Fargo -- Charging auto insurance without customers' knowledge

Wells Fargo to refund $80 million to auto loan customers

 

Wells Fargo will give refunds to more than 570,000 auto loan customers who were also charged for auto insurance without their knowledge.

 

http://www.msn.com/en-us/money/companies/wells-fargo-to-refund-dollar80-million-to-auto-loan-custome...

 

 



EX 753, TU 778, EQ 779
|| NFCU CashRewards $16.5K || Discover IT $7.5K || NFCU Platinum $7.5K || Macy's $7.5K || CitiCostco $5.5K || Chase $5K || CitiDC $4.8K ||
Message 1 of 7
6 REPLIES
Community Leader
Valued Contributor

Re: I am about sick and tired of Wells Fargo -- Charging auto insurance without customers' knowledge

And those hits just keep coming  . . .


Fico 08: 720/721/719 TU/EX/EQ
Message 2 of 7
Senior Contributor

Re: I am about sick and tired of Wells Fargo -- Charging auto insurance without customers' knowledge

WF is horrible!  I used to bank with Wachovia & had an $8k card wirth them.  Perfect payment history, Zero balance.  Then WF bought them out & with absolutely NO heads up, they dropped my limit to $2k.  I noticed when I logged into my acct one day.  When I called, they gave some bs story about doing an acct review...bla bla bla.

 

I had just joined NFCU a few weeks prior.  Called them & set up my paycheck deposit thru them & as soon as my checks were coming in, I went to WF and closed my acct. 

 

They were in shock I was closing!!  Seriously????

 

I also apped for a Platinum Visa with NFCU....instant approval.  $25k.  WF can go suck an egg!  Smiley LOL

 

I'm glad I'd left before they got busted for that whole mess about opening new accts without authorization from the acct holders!  What a bunch of smarmy people!!



Starting Score: 02/2015 TU 709 - EQ 676 - EX 729
Current Score: 04/2017 TU 754 - EQ 757 - EX 747
Goal Score: 850

Bury me in the garden...last app 08.09.15

Message 3 of 7
Super Contributor

Re: I am about sick and tired of Wells Fargo -- Charging auto insurance without customers' knowledge

Lol, go suck an eggSmiley Happy pricelessSmiley Wink
Message 4 of 7
Super Contributor

Re: I am about sick and tired of Wells Fargo -- Charging auto insurance without customers' knowledge

Read today where Wells Fargo is admitting to the fact that there were more accounts opened without the account holders permission than had been previously disclosed. It just keeps on raining! Note, this was bank accounts/cards. Unreal ... but we can't let our big banks fail Smiley Wink

Starting Score: 807
Current Score: 828
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Message 5 of 7
Established Contributor

Re: I am about sick and tired of Wells Fargo -- Charging auto insurance without customers' knowledge

I read the same thing Dinosaur and just shook my head in disgust. I literally cannot believe that anyone would want to do any financial business with them. I sure don't and won't!


EX 753, TU 778, EQ 779
|| NFCU CashRewards $16.5K || Discover IT $7.5K || NFCU Platinum $7.5K || Macy's $7.5K || CitiCostco $5.5K || Chase $5K || CitiDC $4.8K ||
Message 6 of 7
Contributor

Re: I am about sick and tired of Wells Fargo -- Charging auto insurance without customers' knowledge

I just talked to a friend yesterday who worked for another bank for a few years - a very FAMOUS bank, like WF for example. He told me they opened accounts all the time also just to avoid a hostile working environment and he also told me he had friends at other banks who told him they did the same thing. He told me they would look up famous people in their systems and call everybody in the bank around to see how much they had in which accounts. My friend isn't a BS'er, so I totally believe him - that this is a widespread practice and WF just happened to get caught and made an example of. He hasn't worked at a bank for a couple of years because of how much pressure he (and everyone else) got over the new credit and loan accounts quotas, but he did say he missed the easy $80 per credit card account applications he'd received, approved or not.

Point (again) - watch yourselves out for these shenanigans - they are, or at least were recently, WIDESPREAD. Hopefully this WF deal will help straighten this out with other banks doing these practices and serve toward cleaning up this dark side of an already dark industry.
Message 7 of 7