The most trusted and popular consumer complaints website
Explore your opportunities! Create an account or Sign In

Compass Bank / auto loan adding insurance fraudulently

1 Mission Viejo, CA, United States Review updated:

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.

Sort by: UpDate | Rating


  • Li
      4th of Apr, 2009
    0 Votes

    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!!!

  • Z3
      4th of Jun, 2009
    0 Votes

    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.

  • Ka
      8th of Nov, 2012
    0 Votes

    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!

Post your comment