You are here

New Wells Fargo scandal seen as proof controls still lacking

An internal review found more than 500,000 clients may have unwittingly paid for protection against vehicle loss or damage while making monthly loan payments, Wells Fargo said on Thursday.

New York

WELLS Fargo & Co's disclosure that it may have pushed thousands of car buyers into loan defaults and repossessions by charging them for unwanted insurance is raising doubts about the bank's ability to put proper controls in place.

"The steady drip of revelations is...

Market voices on: