JEFFERSON CITY, Mo. - Missouri Attorney General Josh Hawley issued a warning on Friday to consumers reminding them to check their bank and insurance statements for irregular activity.
Hawley said Wells Fargo may have billed consumers for auto or home insurance that was not needed.
Hawley said sometimes if a consumer does not obtain a certain type of coverage on their own, the lender might purchase a policy on its own and bill it back to the consumer through a practice known as “force-placed insurance.”
Wells Fargo is accused of billing consumers for force-placed insurance, even though the consumer had purchased their own separate policy.
Hawley said consumers should check their records to be certain that they are not being billed for policies that they do not need.
"We will work to stop the illegal placement of unnecessary insurance,” Hawley said. “If one of those policies is not necessary or if the policy was placed without the consumer’s knowledge, my office wants to hear about it.”
Hawley said if Missouri residents find that they were wrongfully charged for force-placed insurance, call the Attorney General’s Consumer Protection Hotline at 1-800-392-8222.