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Wells Fargo

Cynthia Caine Named as Head of Wells Fargo Commercial Auto Group

Finance industry veteran brings decades of dealer-focused experience to the management role.

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Wells Fargo Dealer Services to Pay $4.1 million for SCRA Violations

WASHINGTON, D.C. — Wells Fargo Dealer Services has agreed to pay more than $4.1 million to settle charges that it violated the Servicemembers Civil Relief Act (SCRA) when it repossessed 413 vehicles owned by protected servicemembers without obtaining a court order, the U.S. Department of Justice (DOJ) announced on Friday. The settlement will cover repossessions ... Read More »

A.M. Best Comments on Ratings of Heritage Indemnity Company Following AmTrust Financial Services Agreement

OLDWICK, N.J. — A.M. Best has commented that the financial strength rating of A (Excellent) and the issuer credit rating of “a” for Heritage Indemnity Company (HICO) (headquartered in Lakewood, CO) remain unchanged following the recent announcement of its agreement with AmTrust Financial Services, Inc. (AmTrust) (headquartered in New York, NY). AmTrust has entered into ... Read More »

AmTrust to Acquire Wells Fargo’s Warranty Solutions

NEW YORK — AmTrust Financial Services Inc. announced today that it has entered into a definitive agreement to acquire F&I product provider Warranty Solutions from Wells Fargo for $152 million in cash. Pending regulatory approval, the deal is expected to close in the third quarter 2015. Warranty Solutions was part of Wachovia Dealers Services when ... Read More »

Wells Pulls Back, Chase Sees Thinner Margins

SAN FRANCISCO and NEW YORK — The country’s largest auto lender, Wells Fargo, tempered its auto lending activities during the first quarter of 2015, officials reported during a conference call this week. Also reporting quarterly earnings was J.P. Morgan Chase, which saw solid loan and lease growth in the automotive space. Auto originations at Wells ... Read More »

Why Business Credit-Card Holders Should Be Wary

Nicolas Financial Increases Credit Line to Fuel Expansion

Ally Financial Largest U.S. Auto Finance Company, Report Finds

Wells Fargo Increases Westlake Financial’s Credit Facility to $365M

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