Less than a week after a report alleged, and Wells Fargo admitted, to charging its auto loan customers for unnecessary and unwanted insurance, the bank has been subpoenaed by New York state banking and insurance regulators over the matter. [More]
repossession
Wells Fargo Subpoenaed Over Alleged Insurance Scheme That Resulted In 25,000 Vehicle Repossessions
By 8.2.17
Wells Fargo Customers Sue Bank Over Alleged Insurance Scheme That Led To Vehicle Repossessions
By 7.31.17
After a recent report alleged that Wells Fargo had charged its auto loan customers for unnecessary and unwanted insurance — resulting in 25,000 repossessed vehicles — the bank now faces a lawsuit from one of those borrowers. [More]
Report: 25,000 Wells Fargo Customers Lost Vehicles After Bank Charged For Unwanted Insurance
By 7.28.17
Nearly 25,000 Wells Fargo customers, including many servicemembers, lost their vehicles after failing to pay for unneeded, unwanted insurance the bank charged them for, according to a new report suggests. [More]
Feds Investigate Auto Lender For Its Use Of GPS Device To Remotely Disable Cars
By 2.22.17
Once upon a time, if you fell behind on your car loan, the repo guy came out in the middle of the night and took your collateral-on-wheels back. These days, there are small GPS devices that can remotely disable the ignition until the borrower pays up. However, one auto lender is currently facing a federal investigation for its use of this technology. [More]
Wells Fargo On The Hook For $24.5M Over Servicemember Abuses
By 9.30.16
Wells Fargo’s bad month has just gotten worse. The U.S. Department of Justice and the Office of the Comptroller of the Currency (OCC) have fined the big bank $24.1 million for allegedly violating the law by repossessing military servicemembers’ cars.
[More]
Toyota Cashes Lease Payment Check, Repos Van Anyway
By 8.5.11
Mendel works for a not-for-profit organization that leases a few Toyotas, including the van that he drives. Somehow, there was a mixup where Toyota somehow failed to notice that the organization had made its monthly payments (if a bit late) and just went ahead and repossessed the van. So, just pay Toyota, pay the impound lot, and get the car back, right? If only it were that simple. [More]
Woman Killed Trying To Save Car From Repo Man
By 3.2.11
A California woman was crushed to death yesterday by her own car while trying to save it from repossession. Authorities still aren’t quite sure how the accident happened, but the 41-year-old was standing between her car and the tow truck, and was somehow pulled under her vehicle and dragged 40 feet. She died of internal bleeding later that night at a local hospital. [More]
Prom Night Spoiled When Limo Is Repossessed In Front Of Teens
By 4.19.10
So many things can go wrong on prom night — ill-fitting tuxes, zits, wilted flowers, your date running off with someone else — but a group of high school students in Oklahoma had their evening spoiled in a way that is all too indicative of the times we live in: They watched as the limo they’d rented was repossessed. [More]
Repo Man: Borked Chrysler Site Can't Take Your Money, But Can Rack Up Late Fees
By 6.3.09
Late last Thursday night, two guys rang reader Sean’s doorbell and asked if he’d like to get anything out of his 2007 Jeep Compass before they repossessed it. Since then, Sean has tried to get current on his payments, but Chrysler’s web site snafus have kept him from getting the cash to Chrysler, which won’t let him get his car back unless he forks over hundreds of dollars in fees. Oy. Sean’s story, inside..
