Wells Fargo accused of lying to Congress about auto insurance scandal

Wells Fargo was just accused of lying to Congress last year by failing to disclose a brewing scandal in the bank’s auto insurance business.

The startling allegation came from Senator Sherrod Brown on Tuesday during a Senate hearing on Wells Fargo’s various scandals.

“The company pure and simple lied to this committee — and lied to the public,” said Brown, the ranking Democrat on the Senate Banking Committee.

In July, Wells Fargo admitted that it forced auto insurance on as many as 570,000 borrowers who didn’t need it. About 20,000 of those customers had their cars wrongfully repossessed in part due to these unwanted insurance charges.

Read on.

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One response to “Wells Fargo accused of lying to Congress about auto insurance scandal

  1. Pingback: Wells Fargo accused of lying to Congress about their auto insurance scandal | California freelance paralegal

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