NY insurance company dragged into Wells Fargo scandal

The New York insurance company that wrote policies for 800,000 questionable Wells Fargo auto loans has been dragged into the bank’s latest scandal.

National General Insurance was named in a class-action lawsuit filed against the bank — for allegedly unduly profiting from $80 million in collateral protection insurance that the drivers didn’t need — and didn’t know they were paying for.

Katherine Jacobs, an Alabama woman who was charged for the CPI, had her finances damaged by the additional costs, she claims in her Manhattan federal court suit.


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