Consumer complaint received 2021-11-08
Company: WELLS FARGO & COMPANY
State: CA
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Problem with a purchase shown on your statement
Sub-issue: Card was charged for something you did not purchase with the card

Complaint:
I am disputing a current charge of {$6700.00} ( originally {$7200.00} ) to my Platinum card ( ending in XXXX ) account. The charge is in error because I did not authorize this transaction, which consisted of a {$7200.00} cash advance. Associated fees ( interest fee and cash advance fee ) have since been resolved and a credit of {$420.00} was debited to the account, however a balance of {$6700.00} remains. I received a notice of statement via email on XX/XX/XXXX, which reflects the erroneous charge. I did not authorize this transaction and did not give my authorization to anyone to perform this transaction on my behalf. A fraudster had gained access to my online account and initiated the XXXX XXXX of {$7200.00} from the XXXX XXXX to my Checking Account. From the Checking Account, the fraudster then sent the {$7200.00} + {$1900.00} from my checking account ( Total of {$9100.00} ) via a wire transfer to a bank that I do not have an account with and that I have no association with. 

I am requesting that the error be corrected, that any finance or other charges related to the disputed amount be credited to my account, and that I get an accurate statement. 

Per the Fair Credit Billing Act, Wells Fargo has up to 2 billing cycles to conduct your investigation and was not allowed by federal law to charge me a payment during the course of this investigation. During this time, Wells Fargo was not allowed to try to collect the payment, charge interest on it, or report it to credit bureaus as late. However, this practice was not exercised during the investigation, which is reflected on the electronic statement ( dated XX/XX/XXXX ) attached. An amount of {$7600.00} was still an active charge, which caused my account to be over limit ( credit card limit is {$7500.00} ). This resulted in the account being reported to the Credit Bureaus as Over Credit Limit ( as reflected by the XXXX Alert attached ) and a 37 point decrease in my credit score. As of now, the fees have been resolved- however, a balance of {$6700.00} still reflects on this account, despite the report and confirmation by multiple Wells Fargo representatives that this transaction was " clearly fraud '' and " indeed fraud '', which I " shouldn't have to pay because it is not your fault ''. A Minimum Payment of {$68.00} is due on XX/XX/XXXX. I have reported to Wells Fargo multiple times that this balance is fraud. The Fair Credit Billing Act dictates that I have 60 days to dispute a credit card charge. I have made multiple phone claims and filed several complaints through CFPB, as well as XXXX I have mailed a letter, dated XX/XX/XXXX, which is within the 60 day time frame from when the statement containing the erroneous charge was made available online ( XX/XX/XXXX ). Furthermore, because I have reported the fraud within this 60 day timeframe and it is greater than {$50.00}, Wells Fargo is restricted by federal law from collecting payment, charging interest on the fraudulent balance, reporting this balance to the credit bureaus as late. If any of these things occur, I will be serving Wells Fargo with legal notice in accordance with the rights provided to me by the Fair Credit Billing Act ( FCBA ) and Fair Credit Reporting Act ( FCRA ) via my attorney. 

Enclosed are copies of the email dated XX/XX/XXXX that notified me of available electronic account statement, the statement dated XX/XX/XXXX that reflects the erroneous charge and XXXX Credit Notification of decrease in score and Over Limit Account notice, supporting my position and claims. Please correct the error on my account promptly. 

I have mailed a copy of this letter via certified mail to Wells Fargo ( dated XX/XX/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 monetary relief