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Wells Fargo Agrees to Pay $300 Million to Settle Auto Insurance Lawsuit

Wells Fargo Agrees to Pay $300 Million to Settle Auto Insurance Lawsuit

Wells Fargo agreed to pay $300 million to settle a class-action lawsuit claiming the bank improperly charged hundreds of thousands of customers for unneeded auto insurance. The lawsuit, brought on behalf of investors, followed [a 2017 New York Times report](https://www.nytimes.com/2017/07/27/business/wells-fargo-unwanted-auto-insurance.html) that said the unnecessary collision insurance caused 274,000 customers to become delinquent and almost 25,000 vehicles to be wrongly repossessed. The case a