Wells Fargo Auto Loan Insurance Class Action Lawsuit (Varies)

Wells Fargo Dealer Services customers who had a CPI policy planed on their account(s) that became effective between Oct. 15, 2005 and Sept. 13, 2016 and those who had a CPI policy placed on their account(s) between Feb. 2, 2006 and Sept. 1, 2011 are eligible for a potential award from the Wells Fargo Auto Loan Insurance Class Action Lawsuit!

According to the lawsuit,plaintiffs claimed that the bank deceptively put CPI policies into place on consumer auto loans. National General and Wells Fargo deny all acts of allegations, however, they have agreed to settle the class-action lawsuit in order to avoid the further risk and cost of ongoing litigation.

So if you are eligible, file a claim by October 7, 2019 to receive your potential award!

Wells Fargo Auto Loan Insurance Lawsuit

• Claim Form Deadline: October 7, 2019
• Who’s Eligible: Wells Fargo Dealer Services customers who had a CPI policy placed on their account(s) that became effective between Oct. 15, 2005 and Sept. 13, 2016. Wells Fargo Auto Finance customers who had a CPI policy placed on their account(s) between Feb. 2, 2006 and Sept. 1, 2011.
• Estimated Amount:

Those who had a duplicative CPI policy placed on their account can receive:

• A refund of fees assessed to the account while a CPI was placed
• A refund of insurance premiums assessed for duplicative CPI
• A refund of interest charges on CPI policies
• Payments for additional interest accrued on the loan based on CPI premiums and interest
• Payments for the inability to use funds elsewhere

Consumers who resided in Arkansas, Michigan, Mississippi, Tennessee, or Washington when a CPI was placed on their account can receive the same benefits, even if a CPI policy was not duplicative.

Additional payments are also available for:

• Up to $4,000 in out-of-pocket expenses associated with the loss of a vehicle
• Refund of the repossession costs paid to Wells Fargo
• Payments made on a remaining auto loan balance after a vehicle’s sale or a waiver for this amount
• Payment to provide a tax benefit if you had a deficiency balance waived and noted on a 1099-C tax document
• Payments for the inability to use funds elsewhere

If consumers are not satisfied with their payments, they can participate in Wells Fargo’s no-cost mediation program.

• Proof of Purchase: N/A
• Case Name & Number: In re: Wells Fargo Collateral Protection Insurance Litigation, Case No. 8:17-ML-2797-AG-KES, in the U.S. District Court for the Central District of California

(Click here to file a claim)

How To File a Claim

1. Head over to the Wells Fargo Claim Form.
2. Look over the claim form to see if you are eligible.
3. Complete the claim form with your information.
4. Submit your claim by October 7, 2019 to receive your potential award!

Bottom Line

Wells Fargo Dealer Services customers who had a CPI policy planed on their account(s) that became effective between Oct. 15, 2005 and Sept. 13, 2016 and those who had a CPI policy placed on their account(s) between Feb. 2, 2006 and Sept. 1, 2011 are eligible for a potential award from the Wells Fargo Auto Loan Insurance Class Action Lawsuit!

According to the lawsuit, the CPI policies provided by National General Insurance Company were duplicative, unnecessary, and overpriced. So if you are eligible, file a claim by the deadline to receive your potential award! Don’t forget to take a look at our full list of Class Action Lawsuit Settlements!

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