Consumer complaint received 2023-06-06
Company: WELLS FARGO & COMPANY
State: MD
Product: Checking or savings account
Sub-product: Savings account
Issue: Managing an account
Sub-issue: Fee problem

Complaint:
Complaint # : XXXX CFPB shows it as closed. It is not! 
My response : This dance that I have been engaged in with Wells Fargo now ends. We have been going in circle for sometime. Now ends means, I am not playing their game anymore. They keep telling me they are looking into it which is nonsense. It's been ongoing for a very long time. 
Surely they can see that I am relentless and that I do intend to follow through with this agency as well as numerous other legal and consumer entities. 
If they find the recorded phone call that I made about opening a savings account they will hear their representative clearly and unequivocally state that I had to make regular {$25.00} deposits. 
I was told nothing about a $ 5 monthly fee. 

The fact to date they offered and sent me pittances in response to my complaint shows more than a little guilt and responsibility. Add to that the negative news they have received regarding their practices where employees had with quotas to meet or lose their positions. 

Inn one of their recent correspondence with me, I was given an entity to which I should direct my attorney as if a lawyer needs such direction, especially from a defendant. 

There is no reason not to believe that their records have not been altered when they declare that I had not made {$25.00} deposits. I definitely did for a very short time span when I realized something was not right about that practice, i.e. being told I have to deposit {$25.00} a month minimum, taken from the checking account I had at that time. I actually believed that if I wanted a savings account with them, I had to meet this requirement. 

Further, their mediation process was a joke. No mediator, just a messenger carrying my responses to the company. 

I have frankly had a bitter taste about this for many years as my accounts have been hand to mouth so this caused emotional and financial strain which resulted in what I requested for a once and for all settlement of {$25000.00}. 

I have had a credit card checking account and savings account ( XXXX ) with Wells Fargo. All closed. When I tried to open the savings, was told it was mandatory that I deposit {$25.00} a month for it to remain open as a viable account ; This proved a financial strain and some stress. I eventually closed and withdrew what savings I had in it. It was a news item that fake accounts were being opened by Wells Fargo employees and false information given out in order to meet some quota which many employees did to protect their jobs. This is public record. In other words, the door was opened to fraud. I, among others, was lied to and mislead. I contacted them about this and how I had been caught in the web of this fraud. I heard from them in XXXX  and was given {$1500.00} as compensation and told that I was still eligible for arbitration. They also read to me a list other accounts I was alleged to have opened or applied for including an application for homeowners insurance, something for which I never applied. 

They provided a hearing, XX/XX/XXXXXXXX  with a mediator and one of WF 's personnel. My understanding of having a neutral mediator was that she or he would hear all sides and make a determination. This " mediation '' was no more than having a messenger going back and forth with proposals and offers which I could have handled by myself. They contend that I never made one of those {$25.00} payments and sent the mediator and I paperwork as " proof. '' It's not true, or I would not have gone back to close the account as being a hardship and part of the pressure they put on employees to open accounts ( even bogus ). There is no reason not to suspect and believe that the above paperwork was not doctored especially in view of their known fraudulent practices. When I filled out the forms, in the space for compensation, I entered {$25000.00} which would minimal considering the material and personal toll dealing with them took. 
Finally, the mediation, such as it was, ended with a measly, insulting {$150.00}. I can and will continue with my pursuit of justice which will include media and through the legal system, or they can adjust this now and be done with it. 

Considering their history and reputation there is no reason not to believe they doctored my account in their favor removing any mention of {$25.00} payments. In fact, I most likely would have allowed that account to exist had they not taken {$25.00} from my checking. I closed the account taking out the {$350.00} deposit plus any {$25.00} payments. 

Former employees of Wells Fargo have spoken of a toxic high-pressure sales culture at the bank drove some workers to deceive customers and open unauthorized accounts even in the bank 's own headquarters building in XXXX XXXX XXXX 
Wells Fargo is embroiled in a scandal for taking advantage of customers by opening as many as XXXX XXXX accounts without their consent. The bank fired XXXX mostly lower-level workers over the wrongdoing. 
Thank you very much, Sincerely, XXXX XXXX XXXX

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