Less than a month after Wells Fargo & Co. (WFC) CEO Timothy Sloan settled one class-action lawsuit accusing the bank of exploiting its customers, the company is grappling with another.
This time, however, it’s over unnecessary insurance policies tacked on to auto loans rather than bogus credit card and savings accounts.
A borrower who financed a February 2016 automobile purchase through the lender filed a lawsuit in U.S. District Court in San Francisco on Sunday, July 30, claiming he was charged for insurance he didn’t need and seeking class-action status to represent all U.S. borrowers in the same situation, as well as those in the states of California and Indiana, specifically.
