Consumer Protection
Wells Fargo pays $1 billion settlement to CFPB and OCC for auto-loan and mortgage abuses
Apr 1, 2018
Settlement resolved issues related to auto-loan insurance overcharges (customers forced to pay for unnecessary insurance, some lost vehicles) and mortgage interest rate lock extension fees improperly charged to borrowers.
Key Details
Agency
CFPB / OCC
Date
April 1, 2018
Severity
Critical
Penalty
$1000000000
Location
Corporate-wide
Domain
Consumer Protection