Apparently, pretty damned far.
Scandal-plagued Wells Fargo is back in hot water for signing customers up for products that they didn’t need or want. This time it’s auto insurance, and the bank says it may have cost about 20,000 people their cars.
San Francisco-based Wells Fargo acknowledged late Thursday that it enrolled roughly 570,000 auto loan borrowers for what’s known as collateral production insurance on their vehicles when the customers already had appropriate insurance. It will pay $80 million in refunds and account adjustments to those people.
If my father were alive today, he would be ashamed of the industry that he worked in for two decades.