Consumer complaint received 2024-01-22
Company: WELLS FARGO & COMPANY
State: GA
Product: Credit reporting or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account information incorrect

Complaint:
Subject : Notice of Egregious Violations of Federal Law - 15 U.S.C. 1666 ( b ), 15 U.S.C. 1611 ( 1 ), 15 U.S. Code 1681n, and 15 U.S. Code 1681s-2 Dear Wells Fargo Dealer Services Customer Service , I trust this letter finds you well, although it is with great concern that I bring to your attention severe and deliberate violations of federal law codes, specifically 15 U.S.C. 1666 ( b ), 15 U.S.C. 1611 ( 1 ), 15 U.S. Code 1681n, and 15 U.S. Code 1681s-2. 

Upon meticulous examination, it is abundantly clear that Wells Fargo Dealer Services is in blatant violation of 15 U.S.C. 1666 ( b ) by failing to adopt reasonable procedures for verifying the receipt of billing statements by consumers. The absence of a robust system to confirm whether I, as the consumer, am physically receiving paper statements or accessing electronic statements constitutes a direct infringement of this federal law.

This egregious violation not only questions Wells Fargo Dealer Services ' commitment to compliance with 15 U.S.C. 1666 ( b ) but also undermines the very essence of the law, which mandates creditors to adopt reasonable measures to prevent the erroneous treatment of payments as late for any purpose. 

Furthermore, the disregard for 15 U.S.C. 1611 ( 1 ), which unequivocally prohibits the furnishing of false or inaccurate information, is both alarming and unacceptable. The lack of a reliable verification process concerning the receipt of billing statements calls into question the accuracy of the information reported by Wells Fargo Dealer Services, especially regarding late payments. 

I must underscore the gravity of these violations under 15 U.S. Code 1681n, which explicitly addresses willful non-compliance with federal law. Whether Wells Fargo Dealer Services was previously aware or not of its inability to report late payments, this ignorance is no excuse for the severe breaches of consumer rights. 

Additionally, I draw your attention to 15 U.S. Code 1681s-2, highlighting that furnishers of information to consumer reporting agencies are obligated to provide accurate and complete information. Wells Fargo Dealer Services ' failure to meet these obligations further compounds the severity of these violations.

In light of Wells Fargo Dealer Services ' violation of 15 U.S.C. 1666 ( b ), I request that my account status be promptly updated to " paid as agreed. '' The failure to adopt reasonable procedures to verify the receipt of billing statements has not only compromised the accuracy of late payment reporting but also warrants corrective action to rectify any adverse impact on my credit history. 

It is crucial that the necessary steps are taken to ensure that my credit report accurately reflects the payment history in accordance with the law. I expect Wells Fargo Dealer Services to promptly address this matter and update my account status to " paid as agreed. '' Your immediate attention to this request is of utmost importance, and I anticipate your compliance with this corrective action. 

Done in good faith.

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