More than 500,000 Wells Fargo clients may have paid for insurance they didn’t want

Wells Fargo’s https://www.wellsfargo.com/ campaign to rebuild customer and shareholder trust just hit another bump, as the bank said it may have pushed thousands of car buyers into loan defaults and repossessions by charging them for unwanted insurance.

An internal review of the bank’s auto lending found more than 500,000 clients may have unwittingly paid for protection against vehicle loss or damage while making monthly loan payments, even though many drivers already had their own policies, Wells Fargo said in a statement late Thursday. The firm said it may pay as much as $80 million to affected clients — with extra money for as many as 20,000 who lost cars, "as an expression of our regret."

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