Consumer complaint received 2020-04-26
Company: WELLS FARGO & COMPANY
State: OR
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
Wells Fargo has been fraudulently reporting credit information for an account that was closed in XXXX of XXXX. 

This Wells Fargo SECURED credit card account was an attempt to rebuild credit after credit fraud. {$300.00} was deposited and a card was given with a {$300.00} limit that could NOT be exceeded. I literally could not charge more then the amount of cash I had already given them in advance, a collateral situation. I was promised by Wells Fargo that after 1 year of current on-time payments, the account would be upgraded from a SECURE account to a regular credit account. After over 4 years of consecutive on time payments, and no upgrade to the account, I called Wells Fargo and spoke to someone in an escalated position. I was rather upset that after all this they would not switch the account to a regular account as it was not building credit for me. I was completely confused and frustrated. What was the point of the secured account? I immediately asked to close the account. The conversation was not the friendliest. I contacted the bank where the account was opened and asked them if the account was closed. I made 2 attempts to close this account. Keep in mind, in XXXX of XXXX, when I requested this account to be closed, the account balance was {$260.00}. They had {$300.00} of my secured funds when I closed the account. I called it a wash. I figured they could keep the {$33.00} after 4 years of being a great current card holder and after POOR to ZERO customer service, I was done. 

After some time I checked my credit report and noticed they had reported LATE payments and a CHARGE OFF?!?! This was on a PRE-PAID account that was closed 2 times!!! I pretty much gave them free money! At this point it was obvious that the bank representative had an issue with me. I will admit I was quite upset I could not get the account converted after over 4 years of green on time payments, but I was not overly rude. I guess she decided to not close the account or re-open the account I am not sure. I tried to get Wells Fargo to remedy the situation over the course of more then a year. After being informed about the ability to dispute it on my credit report, I tried that option. In XXXX of XXXX I filed a dispute against Wells Fargo. 

This is where a Wells Fargo employee committed fraud. After receiving the dispute, whoever investigated the claim, decided that there was evidence showing that the account was a secured card and within the security amount. This means Wells Fargo held {$300.00} of my money, and I had an outstanding debt of {$260.00}. There would be a {$33.00} check issued to me after the account was closed. The Wells Fargo employee then decided to take it into their own hands. They decided to EDIT THE HISTORY OF MY ACCOUNT BALANCES & PAYMENTS on the major credit bureaus. They literally altered 3 years worth of payment history and balances to help their position in the dispute. I have past and current evidence on my credit reports that show the balance history of all the months and how they have been modified. 

This is blatant fraud. How can they edit and change the balances reported to major credit reporting bureau 's to whatever they want? I hate to imagine a company that can get away with this sort of illegal activity in this day and age. The sickest part about this whole thing- It is over some personal revenge of an employee and it is {$100.00} of fee 's they added after the account was closed. Not a balance. At this point I will be considering pursuing a lawsuit against Wells Fargo and the possibility of an investigation done on Wells Fargo 's credit reporting department.

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