August 8, 2017 / 3:57 PM / a year ago

California insurance regulator to probe Wells Fargo over unwanted auto policies

Aug 8 (Reuters) - California will investigate whether Wells Fargo & Co and an insurance company harmed hundreds of thousands of residents by selling them insurance they did not need, the state's insurance regulator said on Tuesday.

California Insurance Commissioner Dave Jones said in a statement his department will look into so-called "force-placed" or "lender-placed" auto insurance underwritten by National General Insurance Co for customers with auto loans from Wells Fargo. (Reporting by Suzanne Barlyn; Editing by Bill Rigby)

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