Consumer complaint received 2020-03-03
Company: WELLS FARGO & COMPANY
State: GA
Product: Checking or savings account
Sub-product: Other banking product or service
Issue: Problem caused by your funds being low
Sub-issue: Non-sufficient funds and associated fees

Complaint:
Your responses do not make any sense - you keep repeating the same corporate politically correct XXXX. 
1. News Reporter - you did not answer why the XXXX XXXX XXXX Reporter was turned away when he called to do a story 2. Investigation 1. you did not address why I received no responses to my emails, voice messages, certified letters, conference calls, offers to fly to XXXX XXXX , etc. 
2. And you did not offer to allow me to participate in the investigation 3. Why did the investigation take so long?

4. by having suc
h a long investigation, this resulted in undue influence over my business that caused me to not be able to operate for almost all of the investigation period. I could not get working capital because you did not respond to any of the offers from investors/lenders 5. You did not respond to the customer/investor who called and emailed YOU in the first week of XX/XX/XXXX3. Auto Account 1. my credit report still has the errors 2. My auto loan has been turned over to collections 4. Merchant services - I still need to see the documentation for the  calculation 5. XXXX XXXX XXXX XXXX - no explanation for why was I required to submit my financial statements to XXXX and those statements showed the predatory loans that Wells Fargo steered me to. What was the purpose of asking for my financial statements? How many times to I have to ask for this information? 
6. Predatory lending practices - See attached email from your employee, from XXXX XXXX_ dated XX/XX/XXXX_XXXX XXXX. By definition, there are 2 ways predatory lending comes into play... a ) it ignores/hinders the borrowers ability to repay the debt or b ) it benefits the lender. Furthermore, Wells Fargo failed to disclose that they would offer working capital which is a failure to disclose information at the time of closing on the SBA loan and this is even more concerning because of the frauds that impacted my business and then Wells Fargo disappeared when I needed working capital the most, 7.  Property Taxes - where is your written policy and procedures on how to handle property taxes, interest and penalties that states the customer is still responsible for these uncontrollable expenses when he has no control over and did not participate in a one-sided investigation? I want to see the standard operating procedure on this and/or see it in the SBA loan agreements so please provide the detail. This is an unconscionable way to conduct business for a bank the size of Wells Fargo. 
8. Collateral Damage Your response did not say anything regarding collateral damages to my business directly related to not having use of the funds that were fraudulently taken from my account. Those funds were needed for my business and since I did not have the funds in my account, it made conducting business more difficult because I could not pay bills and/or delayed getting fabric and of course the damage to my credit report. This is especially evident in the missed opportunities to provide working capital by not following up with third party lenders/investors See CFPB COMPLAINT # XXXX SENT TO WELLS FARGO filed on XX/XX/2020 9. Discrimination - yes this is discrimination

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