Colorado Attorney General Secures $9 Million+ In Wells Fargo 'GAP' Insurance Fee Refunds

DENVER (CBS4)- Colorado Attorney General Phil Weiser has secured more than $9 million in refunds for Coloradans who were charged unnecessary "GAP" insurance fees from Wells Fargo.

Guaranteed Automobile Protection is often sold by dealers to car owners who finance their purchase through a bank or other lending institution.

Through a multi-state effort, Colorado's AG learned that Wells Fargo had not been refunding unearned GAP fees, as part of a settlement with the bank.

Wells Fargo has refunded the GAP fees to more than 51,000 customer accounts in Colorado.