In 2017 customers of Wells Fargo & Company (WFC) filed a class action lawsuit alleging the bank forced unwanted auto insurance without permission from the customers. Currently WFC plans to pay around $386 million to settle the 2017 class action lawsuit. The high payout is due to the sheer number of customers affected. About 270,000 WFC customers were “pushed into delinquency ” and “almost 25,000 wrongful vehicle repossessions.” In addition to the class action settlement, WFC will be reaching out to individual customers offering financial service recovery, and restructuring their leadership teams. WFC is still seeing a decrease in sales and their numbers. In six months WFC shares “lost 4.5% against 6.5% growth recorded by the industry.”


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