275,000 loans became delinquent, 25,000 cars were illegally repossessed.
It forced hundreds of thousands into auto insurance they didn't need.
Wells Fargo & Co will pay $1 billion to settle with U.S. regulators who say the bank wrongly layered insurance on hundreds of thousands of drivers and routinely hit homebuyers with excessive fees, officials said on Friday.
Wells Fargo & Co is close to settling a record fine of $1 billion imposed by two U.S. regulators for its risk management business, a source familiar with the matter told Reuters on Thursday.
Wells Fargo allegedly violated the Servicemembers Civil Relief Act, a federal law that protects active duty servicemen from things like repossessions.