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If you were automatically enrolled in the settlement, and you don't submit a claim, you'll be eligible to receive whatever is left over after other cash benefits are paid out. ... If you don't file a claim and Wells Fargo has no proof that you were actually harmed you won't be getting anything.
Wells Fargo agreed Friday to pay $1 billion in penalties after the bank was fined by two federal regulators the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency. If you have had an auto or home loan at the bank, you could get money back for any wrongfully charged fees.
National General Insurance, which according to the report paid Wells Fargo unearned commissions on the insurance policies, will pay $7.5 million as part of the settlement, bringing the total settlement amount to just under $400 million.
(Reuters) — Wells Fargo & Co executives and directors have reached a $240 million settlement with U.S. shareholders over the creation by bank employees of millions of unauthorized customer accounts. The settlement was filed late Thursday with the federal court in San Francisco, and requires a judge's approval.
To initiate a Wells Fargo dispute, log into Wells Fargo Online and click Account Services. Under the More menu, select Dispute a Transaction. You can also call 1 (800) 390-0533 to initiate the process. Provide as much information as you can pertaining to your dispute.
About the payment These payments relate to premiums for Collateral Protection Insurance or CPI. CPI is a type of insurance placed by a lender if they are not able to confirm the borrower has their own. CPI covers loss or damage to the vehicle. As of September 2016, Wells Fargo stopped placing CPI.
About the payment These payments relate to premiums for Collateral Protection Insurance or CPI. CPI is a type of insurance placed by a lender if they are not able to confirm the borrower has their own. CPI covers loss or damage to the vehicle. As of September 2016, Wells Fargo stopped placing CPI.
Wells Fargo has identified issues related to the CPI policies placed for Dealer Services customers who had the necessary physical damage insurance for the entire time or for a portion of the CPI policy period, which we refer to as duplicative CPI coverage.
Collateral Protection Insurance, or CPI, insures property held as collateral for loans made by lending institutions. ... If the borrower fails to purchase such coverage, the lender is left vulnerable to losses, and the lender turns to a CPI provider to protect its interests against loss.
A structured settlement is a stream of payments to a person who won or settled a lawsuit. The defendant funds the settlement. These resolutions differ from lump-sum settlements because of the way the money is paid over time.
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