October 2016 Archives

Regulators slap bank hard for improper vehicle repossessions

Wells Fargo Bank has been on the receiving end of stern criticism over the past months for a scheme that involved more than a million fraudulently opened bank accounts. While that scandal has engulfed the company in controversy, a less-publicized scandal has mostly flown under the media's radar. Wells Fargo was recently fined $24 million by regulators for improper vehicle repossessions. The company repossessed cars from military personnel without first getting the required paperwork. 

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