http://www.npr.org/2017/08/02/541182948/who-snatched-my-car-wells-fargo-did
Well looks like they did it again.
To be fair, the problem with CPI is widespread and affects a lot of financial institutions because the communication between auto insurers and financial institutions is, in a word, shit.
Twice in the last two years, I've gotten a notice from the credit union where I have my car loan that my insurance had lapsed and they were going to enroll me in CPI if I didn't provide proof of insurance within 30 days. In both cases, I called the credit union and raised holy hell, then called my auto insurance and raised holy hell. Eventually, after much hand-holding (I considered setting up a 3-way call), the credit union got the correct info and the problem was solved.
But there's the difference -- the credit union:
1. Notified me that they showed me with no insurance.
2. Worked with me to resolve the issue.
3. Stated that had they issued a CPI policy in error, they would have refunded the full cost of it.
Commercial banks like Wells Fargo (ESPECIALLY Wells Fargo) don't give a flying fuck about their customers. And given their track record, I guarantee you this was another "sign them up for everything under the sun" sales directive from on high. IMHO, Wells Fargo should be nationalized and then sold off in pieces to competitors, and the money raised used to pay out the damages suffered by consumers. And the board execs should be doing hard time.