Consumer complaint received 2018-12-09
Company: WELLS FARGO & COMPANY
State: GA
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Getting a loan or lease
Sub-issue: Fraudulent loan

Complaint:
XXXX XXXX XXXX XXXX XX/XX/XXXX Loan Number : XXXX Claim Number : XXXX Attn : Wells Fargo Dealers Services Re : Declaration Letter Request Good Day, My name is XXXX XXXX XXXX XXXX. In XX/XX/XXXX, I entered a financial agreement with Wells Fargo Dealers Services to finance the purchase of a XXXX XXXX XXXX XXXX. 

Per Case Number : XXXX WELLS FARGO COLLATERAL PROTECTION INSURANCE LITIGATION it has come to my attention that I have been subject to several of the unethical business practices involved with the Wells Fargo Auto Loan Product XXXX 

There was no way I could have discovered through the exercise of reasonable diligence, that the forced-place unnecessary XXXX  policy I  received existed while paying my Wells Fargo Loan. 

Outlined below is the misconduct of Wells Fargo - National General : A. Misrepresenting the terms of its auto loans to customers upon their initial application and throughout the application process ; 1. At the time that I signed my Wells Fargo Auto Loan Wells Fargo neglected to inform me of the forced placed insurance policy that was endorsed on my auto loan. 
2. The payments that I agreed to on XX/XX/XXXX during the origination of my loan were increased without my knowledge. 
3. I was not made aware of this information, and would have elected to decline the loan as it was offered. 

B. Transmitting loan application and other customer information to National General ; 1. I was not informed that XXXX  and loan application details would be passed to a third-party. 
2. I was not made aware of this information, and would have elected to decline the loan as it was offered. 

C. Misrepresenting the role that XXXX XXXX played in the loan application process ; 1. I was not made aware that XXXX  and loan  application details would be passed to a third-party. 
2. I was not made aware of this information, and would have elected to decline the loan as it was offered. 

D. Misrepresenting the circumstances under which customers would receive a force-placed XXXX  policy ; 1. I was not made aware that XXXX and loan application details would be passed to a third-party. 
2. I was not made aware of this information, and would have elected to decline the loan as it was offered. 

E. Force-placing unnecessary and undisclosed XXXX policies ; 1. I was not made aware that XXXX  and loan application details would be passed to a third-party. 
2. I was not made aware of this information, and would have elected to decline the loan as it was offered. 
3. I was not aware of the details of the policy and was not able to access/accept the terms and conditions of the forced placed XXXX policy. 
4. I was not aware of the financial scope or impact of the payment amounts or dates. 

F. Concealing the true nature of its relationship with XXXX XXXX from customers ; 1. I was not made aware that XXXX and loan application details would be passed to a third-party. 
2. I was not made aware of this information, and would have elected to decline the loan as it was offered. 
3. I was not aware that I was engaging in a contractual agreement with XXXX XXXX and was not aware of their company policies, procedures or ethics. 
4. I was not made aware of this information, and would have elected to decline the loan as it was offered. 

G. Paying XXXX XXXX the alleged value of premiums that XXXX XXXX wrote on borrowers automobile loans ; 1. I was not made aware that XXXX and loan application details would be passed to a third-party. 
2. I was not made aware of this information, and would have elected to decline the loan as it was offered. 
3. I was not aware that my loan had third party insurance underwriting or the terms and conditions of the forced placed insurance. 
4. I was not made aware of this information, and would have elected to decline the loan as it was offered. 

H. Collecting monthly payments from Class members, including premium charges and interest ; 1. I was not made aware that XXXX and loan application details would be passed to a third-party. 
2. I was not made aware of this information, and would have elected to decline the loan as it was offered. 
3. I made several payments at Wells Fargo Branch Locations and was not made aware of any forced placed insurance on my account at that time. 
4. I was not made aware of this information, and would have elected to decline the loan as it was offered. 
5. Charges were inflated and principal loan credit reporting have been reported wrongfully and inaccurately since the inception of the loan.

6. I was not made aware of this information, and would have elected to decline the loan as it was offered. 

I. Misrepresenting to credit reporting agencies and to Class members that there were delinquencies when XXXX premiums and insurance were not paid 1. I was not made aware that XXXX and loan application details would be passed to a third-party. 
2. I was subject to a substantial credit score decrease for the entirety of the Wells Fargo Auto Loan. 
3. I was subject to higher interest rates based off of the credit reporting of the Wells Fargo Auto Loan. 
4. I was subject to credit rejection based off of the credit reporting of the Wells Fargo Auto Loan. 

J. Misrepresenting to credit reporting agencies, Class members, and the Courts that repossession of Class members vehicles was authorized because Class members were delinquent on their loan accounts. 
1. I was subject to repossession based off of the default of the Wells Fargo Auto Loan. 

It saddens me to come to the understanding that this has been my latest experience with Wells Fargo - because my family and I have been long term customers. I would not like to take up any legal action in the event that we are able to come to an amicable agreement. On the basis of 18 U.S.C. 1964 ( c ) /18 U.S.C. 1341/18 U.S.C. 1343 I would like to request the following : 1 ) Immediate removal of any negative payment reporting to the credit bureau associated with this  loan 2 ) Immediate return of repossessed XXXX XXXX XXXX 3 ) Immediate modification of the fraudulent Wells Fargo Auto Loan 4 )  Immediate refund of all payments during the forced placed XXXX period 5 ) Immediate refund of all post-charge off fees associated with Wells Fargo Auto Loan 6 ) Immediate refund of all repossession related fees. 

Mail Fraud : Defendants violated 18 U.S.C. 1341 by sending and/or receiving, or causing to be sent and/or received, materials via U.S. mail or commercial interstate carriers, for the purpose of executing the unlawful and fraudulent scheme to profit from force-placed XXXX policies. 
Wire Fraud : Defendants violated 18 U.S.C. 1343 by transmitting and/or receiving, or by causing to be transmitted and/or received, materials by wire for the purpose of executing the unlawful and fraudulent scheme to profit from force-placed XXXX policies. 

Due to the negligence on behalf of Wells Fargo I have been unnecessarily immobilized, and humiliated. I am an early career technologist, and had every intention of using this credit building opportunity to further increase my credit worthiness, progressively increase my quality of life for myself and my family. After being impacted this way I seek to be exonerated of this loan agreement with Wells Fargo/XXXX XXXX. 



Thank You, XXXX XXXX XXXX XXXX Nationwide Class : All residents of the United States of America who obtained an auto loan through Wells Fargo Bank, N.A., or its subsidiaries or divisions, and who were assessed charges for XXXX auto insurance and/or related fees.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with non-monetary relief