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Regulator blasts Wells Fargo for sneaky car insurance programme

Report also says the bank had not set aside enough to repay customers it had harmed

More than 800,000 people who took out car loans from Wells Fargo were charged for car insurance they did not want or need, said an internal report prepared for the bank's executives.

New York

A FEDERAL regulator criticised Wells Fargo for engaging in unfair and deceptive practices and failing to manage risks, and said that it had not set aside enough money to pay back the customers it harmed.

The confidential report, prepared by the Office of the Comptroller of...

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