Consumer complaint received 2018-09-10
Company: WELLS FARGO & COMPANY
State: IN
Product: Checking or savings account
Sub-product: CD (Certificate of Deposit)
Issue: Managing an account
Sub-issue: Deposits or withdrawals

Complaint:
To Whom It May Concern : My name is, XXXX XXXX. XXXX, I am a XXXX year old XXXX female XXXX veteran in need of help. I am seeking answers to an auto renewing Certificate of Deposit ( CD ) that I purchased from XXXX XXXX/Wells Fargo Bank. In XX/XX/XXXX my late husband, XXXX XXXX XXXX and myself made the decision to purchase two Certificate of Deposit to invest in our XXXX childrens future ... .CDs {$1000.00} each. With the understanding that each should have auto renewal every 6 months at {$5.00} annual rate of interest starting from the date of XX/XX/XXXX. We suddenly stopped getting account statements around XX/XX/XXXXthe bank changed hands several times during this time. I kept the original CDs in the original envelopes put away in XXXX XXXX safety deposit box before transferring them to a personal home safe after the local Wells Fargo branch I frequent closed it doors. 

In XX/XX/XXXX my son, XXXX, elected to cash his CD without any incidence after graduation from high school and before going off to college. XX/XX/XXXX my daughter, XXXX XXXX. XXXX, after finishing college, starting a business, getting married and having a child ask if she could cash in the CD for a down payment on a home. On XX/XX/XXXX my daughter XXXX XXXX ' visited Wells Fargo 's north office ( with CD in hand ) and spoke with XXXX XXXX where she was informed that there was no record of the CD. She was prompted to go to Indiana Unclaimed.org. website to check. After being notified by Indiana Unclaimed there was no record of it being transferred to them. Which should have been the procedure if for some reason they could not get in touch with me. I still reside at the same residence and have the same telephone number. No reason they would not be able to get in touch with me. Also, I had saving, checking and investments accounts with them until recently after they started getting a bad reputation. 

Returned back to Wells Fargo Bank and a PAC ticket was started regarding the CD to investigate the loss. XX/XX/XXXX received documentation stating " All roads of research have been exhausted to find any information regarding the CD ''. After researching the unclaimed and came up empty handed XXXX and I visited Wells Fargo 's main office and spoke with a Personal Banker XXXX XXXX. She informed us there was nothing else they could do and stated that at some point I must have cashed it out, transferred, or merged it into another account. I informed her that I did not do either. I am financial secure and of sound body and mind. I then ask XXXX for the phone number to the Regulatory Commission or whom ever is over the banks. At that time XXXX became upset and asked if we were accusing the bank of stealing our money. Before leaving the bank we were given numbers to Fraud Research, Claims Dept. and FDIC. 

A complaint was filed with the Indiana State Attorney Generals Office - Re : File No. XXXX. Letters and emails were sent back and forth to Wells Fargo Bank ... no avail. Recent letter stated I need to present their office with recent evidence within the last ( 7 ) seven years. I stop receiving statements and notifications in or around XX/XX/XXXX when XXXX XXXX merged with Wells Fargo Banks. Impossible for me to present any evidence in that time frame. I previously presented them with what evidence I had on hand ... my original CD in the original envelope it came in. I do not know what else to do and my daughter is devastated. We were told the bank has no idea how I have the original CD ... There was no way I cashed it in prior. You are required to present the CD to them when cashing in.

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