Wells Fargo Agrees to Pay $385 Million to Settle Insurance Scam
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Wells Fargo & Co. agreed to pay at least $385 million to customers who say they were signed up for auto insurance without their knowledge or consent when they took out a car loan.
Terms of the proposed settlement, which needs to be approved by a judge, were filed Thursday in federal court in Santa Ana, California. National General, an auto insurance underwriter, will pay an additional $7.5 million, according to the filing.