Consumer complaint received 2019-01-17
Company: WELLS FARGO & COMPANY
State: CA
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Managing the loan or lease
Sub-issue: Billing problem

Complaint:
Wells Fargo Dealer Services sent me 2 letters in the last year admitting to inaccuracies imposed on my auto account. Apparently this same letter went out to many account holders, but it didn't explain what the error had actually been. I immediately checked my account and found that I had been charged for a long time a item I had to learn by XXXX  it.. ( nothing on the statements explain ) Its called CPI Collateral protection insurance which was also purchased without my knowledge or consent. Collateral Protection Insurance was placed on my vehicle and made a mess of my account creating late  charges and added interest. WFDS did not disclose the third party auto insurance premiums assessed and charged to my auto loan. The unwanted and unnecessary coverage inflated my monthly payments on auto payment deduct and the inflated payments I made where applied to the added costs and premium charges first Creating a Variance Balance on my loan with fees and late charges. Monthly billing statements did not disclose insurance premiums purchased by Wells Fargo Auto dealer services, nor did it reflect how the monthly auto deduct payments I was making were applied and creating additional costs to my loan. I also learned that this was a class action suit in which I had no knowledge of and WFDS was at fault for the very same practices in which I am still dealing with. No outside unbiased resolution specialist was hired as promised WFDS to resolve and refund loan holders per third party suite judgement. In house WFDS employees staffed the consumer loan customer Svc call center and instructed to defend WFDS illegal purchase of third party CPI for its loan holders. Credit reporting to bureaus is next to impossible to have WFDS correct. I've made payment to WFDS to avoid repossession that were not applied correctly and continuation of late fees and incorrect credit bureau reporting continues. WFDS call center reports having no consumer loan holder contact information when requested by loan holders to speak to credit reporting department about reporting concerns or errors reported. WFDS continues to report incorrect information and has created a fixing score  decrease as a result. Disputing the reported information only resulted in more errors by WFDS and further damage to my credit bureau scores and denials by mortgage lenders as a direct result. Although I am not a party that I know of..the case file judgement was for WFDS to reverse and refund consumers including the correction of late payment history reporting to credit bureaus, filing a dispute with credit bureaus has resulted in making my credit score even worse because the coerced changes were not applied correctly and caused additional damage and inaccurate history. At no time has any of the three credit bureaus been given the same information. My loan balance is even reported with different amounts. Different dates, last payment received dates and amount paid. Calling WFDS about this inaccurate reporting will not direct you to any one in any department who can resolve the complaint. Disputed reporting through credit bureaus none the less did nothing more than make my credit score decrease even lower as WFDS posted and reported more inaccurate information that added to the problem rather than correcting it. Payments I made specifically to pay off late fees and charges that are accumulating as Variance balances were not applied as instructed to pay down or off late fees. The bank teller did not have the ability to post to late charges only regular payment. No monthly payment due. Status current on time resulted in a late fee payment being posted to the balance of my life an principal and increased my balance due and the late fee accumulation continued as not paid adding more charges for non payment.

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