Consumer complaint received 2023-11-01
Company: WELLS FARGO & COMPANY
State: MI
Product: Credit reporting or other personal consumer reports
Sub-product: Credit reporting
Issue: Problem with a company's investigation into an existing problem
Sub-issue: Their investigation did not fix an error on your report

Complaint:
On or around XXXX XX/XX/XXXX I filed two ( 2 ) CFPB complaints against Wells Fargo because Wells Fargo XXXX has never corrected its records regarding misapplication of a payment that led an account to be charged-off in early XXXX : XXXX and XXXX. Unfortunately WF XXXX has closed these complaints out claiming they are " duplicate '' complaints from a complaint they responded to in XXXX of XXXX : XXXX. A consumer will file additional complaints if the issue remains unresolved an account ( s ) /tradeline ( s ) continue to be reported without maximum possible accuracy. Wells Fargo 's closure of the complaints implies that it is both familiar with the issue presented in my complaints. That is, Wells Fargo is aware they are furnishing the CRAs inaccurate information that alleges the last payment for the account was made on or around XXXX XX/XX/XXXX, when a payment made on or around XXXX XX/XX/XXXX was misapplied causing the account to be charged-off. WF XXXX own records and notifications ( in attached docs ) clearly show the application of a XXXX dollar payment to the wrong account and the CO that resulted. Thus Wells Fargo knows or has reasonable cause to believe they information they continue to furnish to the CRAs is false/misleading/inaccurate. To try and resolve the matter WF XXXX paid off the account in XXXX or XXXX of XXXX to stop any future reporting. Nevertheless, WF XXXX failed to correct the payment history for the prior months. While XXXX removed the false/misleading payment history for the months preceding charge-off, XXXX has left the charge-off annotations and payment history that WF XXXX reported until it was XXXX XXXX XX/XX/XXXX or XX/XX/XXXX because WF XXXX continues to verify the account XXXX accurate as reported '' to XXXX. Thus, the remedies have been at best partial and the information that persists for this account/tradeline is false/misleading/inaccurate ( see Boggio v. USAA Fed. Sav. Bank, quoting Saunders v. Branch Bankin that is referenced in Twumasi-Ankrah v. Checkr , Inc. , 954 F.3d 938, 943 ( 6th Cir. XXXX ) ) and is patently unverifiable. By continuing to furnish the C/O narratives and C/O payment history to XXXX, or any CRA, Wells Fargo continues to engage in unfair practices under CFPA 1036 ( a ) ( 1 ) ( B ) / 12 U.S.C. 5536 ( A ) ( 1 ) ( B ) and unlawful practices under 12 CFR 1026.13 because the misapplication of payment was not reasonably avoidable by me. WF XXXX misapplication of payment on its own has caused me harm. The harm is compunded by the fact that WF XXXX then failed to apply a forbearance and/or deferment correctly leading their accounting system to mark payments as " late '' during periods when WF XXXX  billing system failed to generate bills which itself is a serious violation of 12 CFR Part 1026 TILA ( Reg. Z ) Even under the Section E.1 of the XXXX WF XXXX was required to send those billing statements during periods of deferment/forbearance. At this point I have cause to sue Wells Fargo under 15 U.S. Code 1681s2 for damages to recover direct losses, indirect losses, and emotional damage that has resulted due to WF XXXX continued willful negligence. All I am asking is for Wells Fargo to cease furnishing and/or verifying the the CO payment history to any and all CRAs, and to cease furnishing and/or verifying any/and all derogatory narratives to any CRA WF XXXX has supplied information for this account/tradeline.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation