Consumer complaint received 2023-08-10
Company: WELLS FARGO & COMPANY
State: FL
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Problem with a purchase shown on your statement
Sub-issue: Card was charged for something you did not purchase with the card

Complaint:
The purpose of this complaint is to formally address the unauthorized issuance of a duplicate credit card by Wells Fargo, which was subsequently exploited for fraudulent activities. This issue is in clear violation of the provisions outlined in the Electronic Fund Transfer Act ( EFTA ). 

This unauthorized credit card was sent to an unfamiliar address, XXXX XXXX XXXX ( no state or zip code listed ), which I have no affiliation with or knowledge of. 

This incident is particularly alarming considering that the unauthorized duplicate credit card was subsequently used for fraudulent transactions. I was not only left financially compromised but also deeply concerned about the safety of my personal information and the security measures maintained by Wells Fargo. 

According to the provisions of the Electronic Fund Transfer Act ( EFTA ), financial institutions are obligated to ensure the security and integrity of electronic fund transfers, including the issuance and use of credit cards. The unauthorized issuance of a duplicate credit card, combined with its subsequent fraudulent use, represents a failure to adhere to the EFTA 's stipulations.

I demand that Wells Fargo take immediate and comprehensive action to address this matter : Reversal of Charges : I insist on the immediate reversal of all charges associated with the unauthorized transactions made using the duplicate credit card. As per the EFTA, I am entitled to a refund for any unauthorized transactions. 
Thorough Investigation : I request that Wells Fargo conduct a thorough investigation into how the duplicate credit card was produced and distributed without my consent. 
Written Explanation : I demand a detailed written explanation of the investigation 's findings, all documents used to determine the case, including a clear account of how the unauthorized issuance of the duplicate credit card occurred. This explanation should be submitted to me in writing, in accordance with the EFTA 's requirements for transparency.

Your explanation should include the following : Issuance of Duplicate Card : Provide a detailed explanation of the process by which credit cards are issued and distributed. 
What safeguards are in place to prevent the issuance of duplicate cards without the account holder 's explicit consent? 
Explain the specific circumstances that led to the unauthorized issuance and distribution of the duplicate credit card ending in XXXX  without my knowledge or consent and the subsequent distribution of the card to an address not associated with the account. 
Security Measures : What security measures does Wells Fargo have in place to prevent the unauthorized issuance of duplicate credit cards? 
Provide details on any recent security enhancements made to prevent such incidents from occurring in the future. 
Are there any specific protocols or authentication methods in place to ensure the accuracy of credit card issuance requests? 

Fraud Detection and Prevention : How does Wells Fargo monitor for potentially fraudulent transactions and irregularities on customer accounts? 
What steps were taken to identify and prevent the fraudulent transactions made using the duplicate credit card in question? 
How does the bank ensure that transactions made using a duplicate card are flagged for verification or declined to prevent unauthorized activities Investigation Process : What steps did Wells Fargo 's Claims and Recovery Credit Card Fraud Claims department undertake during its investigation of the unauthorized charges? 
What evidence, documents, or information were considered during the investigation process to determine that I authorized the transactions? Notification and Communication : Why was I not notified or contacted by your analyst during the investigation process, especially given the seriousness of the matter? 

Legal and Regulatory Compliance : How does Wells Fargo ensure compliance with the Electronic Fund Transfer Act ( EFTA ) regarding the security of credit card issuance?

What steps does Wells Fargo take to ensure that its practices align with the EFTA 's provisions and guidelines?

Explain how Wells Fargo intends to rectify this incident to ensure full compliance with the EFTA My expectations align with the EFTA 's standards and regulations, which prioritize the security and well-being of your consumers.

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 monetary relief