Consumer complaint received 2021-07-18
Company: WELLS FARGO & COMPANY
State: VA
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Company closed your account

Complaint:
This complaint is in conjunction with my previous CFPB complaint ( XXXX ) regarding Wells Fargo and their refusal to refund {$170.00} paid to The XXXX XXXX  in Washington, DC on XX/XX/2020 for the temporary rental of a mailbox to which I never received the mailbox number, a key to the mailbox, and/or instructions on how to access the mailbox. Upon learning about a 120-day rule, I sent the below letter to XXXX XXXX, Vice President and Branch Manager at Wells Fargo located in XXXX. VA on XXXX XXXX. XXXX XXXX has NOT as much as acknowledged my correspondence trying to resolve my open matter. However, Wells Fargo has since closed my account and charged off the negative balance adversely harming my financial status, history, and future. I believe Wells Fargo is equally culpable as is The XXXX XXXX in this financial mishap. 
XXXX XXXX : Good morning. As you are aware I've been in your office at Wells Fargo Bank on at least 3 occasions there on XXXX XXXX in XXXX, VA. That office is located in zip code XXXX. That zip code is identified in a number of U.S. Government datasets as being an " economically disadvantaged region '' of the U.S. It's also the zip code of record for my account and where I have a second residence. 

I want to share with you one of the initial findings in my CFPB complaint filed a few days ago. In my speaking with XXXX XXXX I've learned some not so comforting information. Information about the 120-day rule whereas a U.S. based bank either can not, or is limited in its ability to act on a customer 's debit card dispute in favor of the customer if the dispute falls outside a 120-day window. Why did you and Wells Fargo neglect to inform me of this? When I was in your office last week, I noticed on your business card that you are a Vice President and Manager. Isn't it a reasonable and rational expectation that someone in your position " worth his/her salt '' would be aware of and have a duty of financial transparency to inform the customer of such a rule? Being a Wells Fargo customer. I believe it is both a reasonable AND rational expectation. As recent as last week and nearly 10 months after the initial transaction on my debit card, you initiated a triplicate dispute for the same transaction in question. Why? As you are aware, my initial dispute denial had a response of a " valid authorization ''. There was never a question of validity of the authorization. My entire complaint was based on the fact that I never received a key, a mailbox number. or instructions on how to access my rented mailbox from The XXXX XXXX in Washington, DC after paying {$170.00} for it using my Wells Fargo debit card. The denial response to the second dispute verbally conveyed by one of your call center workers in XXXX, XXXX XXXX was " my account is not protected under The XXXX 's law ''. Both of which are grossly deceptive, misleading, and prevented, and delayed me from finding the correct avenue for an expeditious resolution which would have had a more positive outcome on my Wells Fargo financial record. I find this a serious failure of your and Wells Fargo 's duty to your customers. Given my account is in an " economically disadvantaged region '' of the United States, I find it tantamount to " redlining '' that discriminates against people of lower economic structure, people of XXXX, and other marginalized persons. If you would have told me about this 120-day rule I could have taken different steps to protect my account from being overdrawn and subsequently closed by Wells Fargo - which has further disadvantaged me economically by negative marks placed in public databases by Wells Fargo which adversely affect my good name. 

I believe you are aware that I may not be wealthy in terms of money but I have an almost immeasurable wealth of knowledge and graduated in the top tier of my classes all the way up through my XXXX earned at a XXXX XXXX XXXX XXXX. It is my plan to get to the bottom of this matter and have it resolved in a professional and proactive manner. One of my first efforts will be to make every effort to identify other similarly situated Wells Fargo customers that may exist. 

I'm of the mindset this should've never happened ; especially on the heels of the recent Wells Fargo scandal where your bank opened unauthorized accounts without customer 's knowledge and your CEO, XXXX XXXX was unable to provide the U.S. Congress with proper answers about it. I kindly request my account be reopened, any adverse data in consumer databases about me be completely removed, and my account returned to the positive balance of a few cents it had in it and to a " good standing ' status like prior to this fiasco. 

If you'd like to speak with me about this matter you are welcome to reach out to me on XXXX at your convenience. As other developments occur in the CFPB 's investigation, I'll be in touch. 

My best regards, 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