Share

Wells Fargo Under Investigation After Accusations Made by Former Prudential Employee

Share this:

SACRAMENTO – Wells Fargo is the target of a California Department of Insurance Investigation that was sparked by an accusation made by a former Prudential Company Employee. Prudential has a partnership with Wells Fargo to sell Prudential products to customers, but has been accused of signing up customers for Prudential insurance without their authorization.

California Department of Insurance Commissioner Dave Jones is asking investigators to intensively investigate all aspects of the allegations, including the possible violations of laws requiring a person transacting insurance to have a department issued license.

“Investigators with the California Department of Insurance will investigate new allegations of fraud and misconduct made by former Prudential employees regarding Wells Fargo and its employees,” said Commissioner Dave Jones. “Former Prudential employees who filed a whistleblower lawsuit allege that Wells Fargo signed up consumers for Prudential insurance policies without consumer permission much as Wells Fargo admitted its employees illegally signed up consumers for bank products without permission. We will also examine Prudential Insurance company’s practices in this regard.

Wells Fargo admitted to thousands of their employees creating as many as two million unauthorized accounts. The California Department of Insurance and the New Jersey Division of Insurance are both investigating this issue.

For late-breaking news, follow 24/7 Headline News on our Los Angeles County Facebook group, Riverside County Facebook groupInland Empire Facebook group. If you like what we are doing and want regular updates on your facebook stream like our Facebook Fan Page. You may also follow 24/7 Headline News on Twitter! 

For late-breaking news, join 24/7 Headline News on our Facebook Newsgroups for Los Angeles County NewsRiverside County News, Adelanto NewsCoachella Valley News, U.S./World News, Victor Valley/Inland Empire News. If you like what we are doing and want regular updates on your Facebook stream like our Facebook Fan Page. You may also follow 24/7 Headline News on Twitter and Instagram

Follow Me
Share this: