Consumer complaint received 2023-05-18
Company: WELLS FARGO & COMPANY
State: MD
Product: Checking or savings account
Sub-product: Savings account
Issue: Managing an account
Sub-issue: Fee problem

Complaint:
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/XXXX 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. They have contended that the {$25.00} per month was a fee. It was not. I was explicitly told and pressured that I was required to deposit at least this amount every month 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 2 million accounts without their consent. This bank has as recently as XXXX XXXX been in the news again regarding their practices. 

I have been pursuing this and will continue to do so via any and all agencies and in the courts until I have been compensated for this injustice, as well as the financial and emotional burden this brought about at the time.

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