Missouri News: Attorney General Eric Schmitt Announces Start of Wells Fargo Consumer Redress Review Program

Missouri News: Attorney General Eric Schmitt Announces Start of Wells Fargo Consumer Redress Review Program

Jefferson City, MO (STL.News) – Wells Fargo has launched a consumer review program for Missourians who believe they were harmed by the actions of the company, but have yet to receive compensation, according to Missouri Attorney General Eric Schmitt.

Wells Fargo’s consumer review program was a key component of the December 2018 settlement with the attorneys general of all 50 states and the District of Columbia to resolve claims that the bank violated state consumer protection laws by (1) opening millions of unauthorized accounts and enrolling customers into online banking services without their knowledge or consent, (2) improperly referring customers for enrollment in third-party renters and life insurance policies, (3) improperly charging auto loan customers for force-placed and unnecessary collateral protection insurance, (4) failing to ensure that customers received refunds of unearned premiums on certain optional auto finance guaranteed asset/auto protection (“GAP”) products, and (5) incorrectly charging customers for mortgage rate lock extension fees.

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