Wells Fargo Reportedly Expands Review Of Auto Products And Services

(RTTNews) - Wells Fargo (WFC) has expanded a review of auto products and services it finances as part of an effort to get ahead of heightened regulatory interest in the area, the wall Street Journal reported citing people familiar with the matter.

The report noted that the bank in recent months has been reviewing sales and potential refunds in the so-called aftermarket products that customers purchase at an auto dealership when they buy a car.

Though banks generally don't sell these products, which include extended warranties, roadside assistance, tire protection and other add-ons, their costs are folded into the buyers' auto loans, which are often owned by lenders such as Wells Fargo.