Product: Checking or savings account

I am writing to formally lodge a complaint with the Consumer Financial Protection Bureau against Wells Fargo Bank. This complaint concerns the unilateral and arbitrary decision made by the bank, which has caused significant harm and distress in my life. I am deeply troubled by the handling of my banking relationship with Wells Fargo, resulting in severe financial and emotional consequences. 

For more than a decade, I have been a dedicated and loyal customer of Wells Fargo, maintaining multiple savings and checking accounts, including business accounts. Throughout this period, I have consistently upheld a strong financial history, demonstrating responsible banking behavior by never depositing or writing a bad check and ensuring my accounts maintain a positive balance. 

Unfortunately, Wells Fargo Bank failed to provide any warning or notification of the imminent closure of my accounts. The shocking revelation came to light on Friday, XX/XX/XXXX, when I attempted to make several XXXX payments to my sub-contractors. To my dismay, the XXXX system displayed a message stating, " No eligible accounts available to send XXXX payment. '' Only after an immediate call to Wells Fargo did I discover that all my accounts had been hard-locked since XX/XX/XXXX, without my knowledge. The extent of this situation became apparent when I attempted another transaction the following day. 

In the days that followed, I made over a dozen attempts to contact the Wells Fargo Prevention Contact Center at XXXX, pleading for the release of my funds or at least the ability to withdraw them via a Cashiers Check at a branch. After numerous frustrating attempts, I was finally able to withdraw funds from some accounts. However, there remain accounts that Wells Fargo has not released, leading to their closure. Consequently, I now face a 7-10 business day wait for the funds to be sent via USPS First Class mail. Wells Fargo 's actions have effectively held my money hostage for weeks, leaving me in a state of financial despair and hardship. 

The unilateral and arbitrary decision made by Wells Fargo has caused profound emotional distress, significantly impacting both my personal well-being and professional life. This decision affected three business checking accounts, one business savings account, four checking accounts, and two personal savings accounts, all of which were frozen without warning. 

The monetary locks imposed on my accounts include {$66000.00} in one business checking account, {$100000.00} of aged seasoned money in one personal savings account, and a joint checking account holding over {$55000.00}. These monetary blocks have resulted in severe financial challenges for me. 

During the account lock period, my business 's operations were severely affected. The company 's XXXX XXXX fuel card, attached to my business checking account, is essential for the timely payment of balances. Due to the account lock, the fuel card company was unable to receive payment, causing the locking of all fuel cards. As a consequence, my truck drivers were stranded on the road, unable to fuel up and return home. The fuel card company demanded a wired balance before unlocking the accounts. Unfortunately, without an alternative checking account elsewhere, this issue caused significant disruptions to my company 's operations and damaged its reputation. 

Wells Fargo 's unilateral and arbitrary decision not only disregards my rights as a consumer but also raises serious concerns about the bank 's adherence to banking regulations and consumer protection laws. The bank 's refusal to provide a reasonable explanation for the monetary block and the lack of prior warning are deeply troubling, suggesting a lack of transparency and accountability. 

Therefore, I urgently request the intervention of the Consumer Financial Protection Bureau to conduct a thorough investigation into this matter. It is imperative to address the illegal and unethical practices of Wells Fargo, hold the bank accountable for its actions, and ensure a just resolution for the harm inflicted upon me. 

I kindly urge the Consumer Financial Protection Bureau to : - Initiate an immediate investigation into the reasons behind the sudden closure of my accounts and the imposition of the monetary block. 
- Demand a clear and comprehensive explanation from Wells Fargo Bank for its actions and the lack of prior warning. 
- Facilitate the removal of the monetary block, granting me full access to my funds without further delay. 
- Ensure appropriate compensation for the substantial financial and emotional distress caused by this situation. 

I deeply appreciate the Consumer Financial Protection Bureau 's commitment to safeguarding consumer rights and maintaining the integrity of the financial system. Your prompt attention to this matter is vital, as I am seeking a fair and just resolution from Wells Fargo Bank. 

Please acknowledge the receipt of this complaint, and I eagerly await a timely response from your office. 

Thank you for your invaluable assistance in addressing this distressing issue.