Compass Bankauto loan adding insurance fraudulently


Car Loan through Compass Bank. 1 year ago, Compass sent letter seeking proof of insurance, stating they did not know who my carrier was or that I had one. As all do know for loans at least in So Cal, that information is on the Loan Docs to the Bank.

I called my Ins. Agent. She was contacted by them as well. Huh? They didn't know I was covered, right? At that time, we both sent in the info. Have not heard from them since, well, until now.

Feb '09, I get another letter stating they don't know who my carrier is or that I have coverage. ???? The letter also states to get the info to them by Dec '08 or they will charge me $900 for "their" insurance. It's Feb '09. Again, ???? So, based on the fact we've been through this before and they've knowingly contact my agent directly before, all I can conclude is FRAUD!!!

Do not use Compass or ANY of their services. Based on all the complaints, they are guilty of fraudulent processes for all their services and offerings.


  • Li
    Lisa Zarafonetis Apr 04, 2009

    I cant believe how the banking industry has gotten to the point of screwing over the public! I come from a long list of family bankers and I can remember how personalization was a wonderful thing! Well guess what? There is no such thing as personalized banking anymore! Theyre out for the almighty Dollar! Its so sad!!!

    0 Votes
  • Z3
    Z33Fairlady Jun 04, 2009

    I agree I have an auto loan and they say I have not paid anything yet.
    Now they are threatening to tow my car away when I know I send them checks every month,
    I write down the check number and everything.

    0 Votes
  • Ka
    kaytalinplatt Nov 08, 2012
    This comment was posted by
    a verified customer
    Verified customer

    I have had the same problem. Every 6 months they send me a letter saying I don't have insurance anymore and that they will be charging me for it unless I provide them proof. I send them proof, I get my agent to send them proof, and then they send me a statement with an insurance charge. When I call and tell them that I send them proof, they tell me they never received it. This has happened 3 different times, and its getting old. I am going to refinance. Never use Compass bank!

    0 Votes

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