Wells Fargo Auto suspends loan applications from Lawrence Kia

After a 41 Action News I-Team investigation earlier this week revealed Lawrence Kia may have submitted hundreds of falsified applications to lenders, a major bank said it has suspended taking loan applications from the dealership.

NEW AT SIX -- A MAJORBANK HAS SUSPENDEDTAKING LOANAPPLICATIONS FROM AMETRO CAR DEALER.WELLS FARGO IS ALSONOW INVESTIGATING ITSBUSINESS RELATIONSHIPWITH LAWRENCE KIA-MITSUBISHI.THIS COMES AFTER A 41ACTION NEWS I-TEAMREPORT UNCOVERED THEDEALERSHIP MAY HAVESUBMITTED HUNDREDS OFFALSIFIED APPLICATIONSTO LENDERS.ANDY ALCOCK HAS THEEXCLUSIVE UPDATE.SASHA JEFFERSON"I'VE BEEN PRETTYDISTRESSED, THIS ISSASHA JEFFERSON IS APAST LAWRENCE KIADOLLARS TO $4403.HER LENDER, WELLSFARGO AUTO, SENT HER ALETTER LAST DECEMBER5TH VERIFYING HERCOMPLAINT.THE LETTER STATES INPART, "WE WANT TOASSURE YOU THAT THISEXPERIENCE WILL BESHARED WITH THEAPPROPRIATE PARTIES,AND THIS WILL BEADDRESSEDAPPROPRIATELY".JEFFERSON STILL HADCONCERNS WHEN WESPOKE WITH HER INMARCH.SASHA JEFFERSON/LAWRENCEKIA CUSTOMER"IF MY APPLICATIONWOULD'VE BEEN AUDITED,IT WOULD'VE LOOKED LIKEI LIED, IT WOULD'VELOOKED LIKE I COMMITTEDFRAUD."NOW, MORE THAN SIXMONTHS AFTERJEFFERSON RECEIVED HERLETTER AND AFTER WESENT QUESTIONS TOWELLS FARGO THIS WEEK,THE BANK RESPONDED.AN EMAIL FROMREPRESENTATIVE JULIEFOGERSON READS INPART, "OUR INVESTIGATIONINTO THIS SITUATION ISONGOING, AND WE HAVESUSPENDED ACCEPTINGAPPLICATIONS FROM THISDEALERSHIP."LONG TIME CRIMINALDEFENSE ATTORNEY ANDFORMER PROSECUTORJAMES SPIES SAIDJEFFERSON'S COMPLAINTSHOULD'VE RAISEDAWARENESS TO APOTENTIAL PROBLEM FORWELLS FARGO MONTHSAGO.JAMES SPIES"IF THEY RECOGNIZETHERE IS A PROBLEM ANDTHEY ARE INVESTIGATING,THEY ARE CERTAINLYTAKING THE RESPONSIBLESTEP TO STOP ACCEPTINGLOANS FROM THISDEALERSHIP."HERB VANCEEXPERIENCED A SIMILARISSUE IN HIS DEALINGSWITH LAWRENCE KIA, ONLYWITH A DIFFERENT BANK.THE RETIREE REPORTEDHIS MONTHLY INCOME WAS$2000.BUT THE BANK TOLD HISLENDER, SANTANDERCONSUMER, IT WAS $9961DOLLARS, RESULTING IN ANEARLY $1000 DOLLARMONTHLY PAYMENT.VANCE COMPLAINED TOSANTANDER.HERB VANCE/LAWRENCE KIACUSTOMER"YOU STILL HAVE ADOCUMENT WITH MY NAMEON IT THAT'S FRAUDULENT.AND IT WAS LE OHWELL."THE I-TEAM UNCOVEREDSANTANDER CONSUMERHAS HAD PREVIOUSISSUES WITH CAR LOANS.IN 2017, THEMASSACHUSETTSATTORNEY GENERALANNOUNCED A $22-MILLIONDOLLAR SETTLEMENTWITH SANTANDER FORWHAT SHE CALLED UNFAIRAND UNAFFORDABLE AUTOLOANS FOR THOUSANDSOF CAR BUYERS.THE NEWS RELEASE SAIDIN PART, "LOANAPPLICATIONS SUBMITTEDTO THE COMPANY BY CARDEALERS, WEREINCORRECT AND OFTENINFLATED."WE REACHED OUT TOSANTANDER ONWEDNESDAY BUT HAVENOT YET RECEIVED ARESPONSE.JAMES SPIES"YOU CAN'T HELP BUTLOOK AT PAST BEHAVIORAND ASK YOURSELF ISTHIS SIMPLY THE SAMETHING TAKING PLACE NOWTHREE YEARS LATER IN ADIFFERENT STATE.".MARK KAVANAUGHMARK KAVANAUGH IS AFORMER LAWRENCE KIAEMPLOYEE WHO LEFTTHERE IN APRIL BECAUSEHE SAID THE DEALERSHIPSBUSINESS PRACTICESWERE AFFECTING HISREPUTATION.KAVANAUGH BELIEVESLENDERS DO HAVE SOMERESPONSIBILITY INACCEPTING WHAT HECLAIMS WERE HUNDREDSOF FALSIFIED DEALS.MARK KAVANAUGH/FORMERLAWRENCE KIA EMPLOYEE"IF THE BANKS EVER ASKFOR PROOF OF INCOME,WHICH MOST OF THEM DONOT DO, IF YOU'VE GOTMARGINALLY GOODCREDIT, THEY'RE GOINGTO APPROVE YOU ANDTHEY'RE GOING TO TAKEFOR WORD WHATEVERTHE DEALERSHIP SENDSOVER FOR INCOME."AS FOR WELLS FARGO'SPOLICY ON PROOF OFINCOME FOR CAR LOANS,FOGERSON WROTE IT'SONLY REQUIRED "INCERTAIN SITUATIONS".I'M INVESTIGATOR ANDYALCOCK, 41 ACTION NEWS.WE ALSO REACHED OUTTO ALLY BANK ABOUT ITSDEALINGS WITHLAWRENCE-KIAMITSUBISHI.THE RESPONSE STATES INPART, ANY CUSTOMERSWITH CONCERNS ABOUTTHEIR LOANS SHOULDCALL ALLY'S CUSTOMERSERVICE LINE AT925-2559.WE ALSO REACHED OUTTO LAWRENCE KI