Consumer complaint received 2023-06-27
Company: WELLS FARGO & COMPANY
State: GA
Product: Payday loan, title loan, or personal loan
Sub-product: Installment loan
Issue: Problem with the payoff process at the end of the loan

Complaint:
I have calledWells Fargo multiple times and lodged disputes in writing, via XXXX 's upload service, and via the credit bureaus ' online dispute portal. Companies and bureaus have a duty to keep customer information accurate and up-to-date, and the FCRA mandates that credit bureaus make every effort to ensure that information in consumer reports is as accurate as possible. Thus far, Wells Fargo and the relevant authorities ' responses have fallen shortof these requirements. 

I have not been given any information about the ( representative ) you contacted, including their names, email addresses, or phone numbers. 
You haven't offered any proof that the late payment you mentioned actually occurred. 
The incorrect late payment remains on my account even after XXXX  days have passed. 
The Bureau 's nor Wells Fargohave n't kept my file correct, current, and complete. 
Both Wells Fargo and the Creditcompanieshaveslandered me. 

That Wells Fargo decietfullyconverted my personal loan account ( # XXXX ) into a car loan without my written consent and is currently reporting I was late on my XXXX paymentthat I have never been 30, 60, or 80 days late on a payment is the purpose of this complaint.Theattachments attached hereto. First, I've attached Wells Fargo 's cashier 's check and the transaction receipt showing the teller placed the moneyinto my XXXX  account. The banker XXXX told meXXXX XXXX XXXX, whose XXXX card is on the receipt, would transfer the monies into abusiness account she would open for me. She wasn't present when I signed the loan forms in Wells Fargo XXXX 

The secondbundle of papers includes XXXX Loan Agreement. This loan wasprocessedXX/XX/XXXX. The loan officer said my monthly payment would bedue on the XXXXXXXX of each month. How the third of the month hadbecome the new normal, I have no idea. But I left Wells Fargo for XXXX XXXX XXXX and transferred all my accounts there. Wells Fargo turned my Personal Loan into an Auto Loan and Imoved my monthly payment due dateto the XXXX instead of the XXXX  of each month. New account number : XXXX was record as a XXXX  loan. I decided to transferbanks since Wells Fargo did not keep its word by opening my XXXX account as agreedand by changing various terms of the Personal Contract Agreement. 

Mypayments wereautomatically debited from my account every month per the Personal Loan contract, so I never waslate. However, Wells Fargo quickly charged me late penalties and extra interest due to the way they begancoding of my payments in their bank'ssystems. Payments were late after the XXXX  day of each month instead of the XXXX day of the month agreement, nor was the grace period given untilthe XXXX day of the month when a late fee should access. The revised due date is crucial for my account payments because my payment is never 30 days late, even if it arrivesthe XXXX of the following month. When I made thepayment on XX/XX/XXXX, it was not 30, 60, or 80 days late. XX/XX/XXXX wasnot the pay date. There was no need to hold the payment no late fees or interest were due. And I shouldn't have had to pay anyinterest and late penalties, either. Wells Fargo 's system unintentionally overdrew my XXXX  account for two months on XXXXinstead of one payment ; thereforetherefore, they reversed the extra money as a missed payment. The pay history shows how the computer began accessinglate fees and interest from that point until the close of my account. Wells Fargo let the feescontinue to acureinstead of correcting it promptly. My paymenthistory shows I've never been late with a monthly payment. 

Thus, at the same time, I was having trouble with Wells Fargo correcting and apply my monthly payments to my accountcorrectlyXX/XX/XXXX & XXXX alerted me that an unknown vendor was making monthly unauthorized withdrawals from my account. After the Bankresearchedthe vendor, they informed me that Wells Fargo had made the withdrawals. Wells Fargo claims that a retailer who does business with their bank anelectronic signature authorized those withdrawals. evident shows the merchant made many withdrawals under different aliases to mask their genuine identity. I suspect the story of an electronic signature to be false. As a result, I was unable to get all of my stolen money back. I've attached the transactionsdocumentation. XXXX XXXX XXXX and Wells Fargo mishandled my personal and business accounts for a long time. Suddenly one day XXXX & XXXX without any prior warningquickly closed allmy accounts. Gave me the account numbers and suggestedI file fraud report withthe police. 

Despite never being late, Wells Fargo claims I have a late payment history. In response, they purposely reported my payments as 30-80 days late to the credit reporting firms whose reports are in the papers I've submitted. Finally, Wells Fargo admitted to deceiving me, overcharging me in interest, and reversing the late fees in four separateletters, and made a promise over the telephone my late payment would be corrected when I called in response to the check they said I never cash as a refund of the overcharged interest. I receivedone letter inXXXX and three lettersin 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 non-monetary relief