Consumer complaint received 2017-10-27
Company: WELLS FARGO & COMPANY
State: CO
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: Credit card company isn't resolving a dispute about a purchase on your statement

Complaint:
I believe the best place to start would be to provide a timeline of events thus far. My Wells Fargo credit card was stolen at some point in late XX/XX/XXXX or early XX/XX/XXXX and, over the course of 17 days in XX/XX/XXXX, that credit card was used without my authorization to complete 16 transactions totaling {$13000.00} across 4 retailers : XXXX ( {$10000.00} ), XXXX ( {$1500.00} ), XXXX ( {$1500.00} ), and XXXX ( {$600.00} ). Please note, I seldom use this card. In fact, the last time I used this card was last year. I kept it in my wallet for emergency purposes since late last year. As such, I was surprised when I received a bank statement for all the charges listed. 

I initiated my claim with Wells Fargo by calling Wells Fargo Credit Card Fraud Claims on XX/XX/XXXX after seeing my credit card statement. When I called Wells Fargo card services, I gave the banker my information and answered their questions. At the end of the call, the banker informed me that I could expect to receive my new card in a matter of a few days and would receive a follow up letter I would need to sign and return to finalize my claim. 

On XX/XX/XXXX, I received a follow-up phone call from another banker at Wells Fargo Credit Card Fraud Claims seeking clarification with regard to my claim. I maintained that while I was familiar with the vendors where my card was used, I was not aware of where my card was or who was using it. That call ended much the same way as the first. The banker informed me that I should expect my new card any day along with a follow up letter to sign and return. 

I then received my card XX/XX/XXXX or XX/XX/XXXX. However, the follow up letter I was expecting came in the mail on XX/XX/XXXX. Dated XX/XX/XXXX, the letter from Wells Fargo Credit Card Fraud Claims stated that fraud had not occurred and the transactions were actually authorized. That letter claimed that the merchants were able to verify at least some portion of my personal information, account number, and/or card expiration date. 

After reviewing the letter, I called back to Wells Fargo Credit Card Fraud Claims on XX/XX/XXXX, at my first opportunity, to see if there was anything else I could do. The banker I spoke to then told me my only recourse would be to file a reconsideration letter. I sent a carefully worded letter on XX/XX/XXXX. I argued that the individual ( s ) who had my card to produce these transactions could and probably would have, by default, any necessary amount of my personal information. They easily had access to my account number and/or card expiration date since those items were printed on the card. As far as my personal information was concerned, the individual ( s ) clearly had some or all of that as well. I was frustrated with Wells Fargos almost indifferent approach in trying to resolve this matter. They claimed they were trying to protect me as a customer. However, being on the hook for nearly {$14000.00} in charges at the time did not feel very protective to me. In my 18-year banking relationship with Wells Fargo, I can not recall a time where I was treated with more disregard in a personally serious financial matter. 

I received a follow-up letter from Wells Fargo Credit Card Fraud Claims on XX/XX/XXXX ( dated XX/XX/XXXX ), claiming they were taking my letter asking for reconsideration under further consideration and that I should expect to receive results of their further research within 45 days. I then received a follow-up letter from Wells Fargo on XX/XX/XXXX ( dated XX/XX/XXXX ) stating that the research was completed, the charges were valid/authorized, and my claim was closed. Apparently, Wells Fargo Credit Card Fraud Claims fully completed an investigation in about 4 % ( 2 days ) of the time ( 45 days ) it  could possibly take. 

Frustrated by the result, I then sent an addendum of my original reconsideration letter on XX/XX/XXXX to Wells Fargo Credit Card Fraud Claims. In summary, I explained that for virtually all online purchases, which all the charges appeared to be, I have them sent to my home. I never saw any of these items at my home. Furthermore, I never received an email to one of the email addresses I administer with a receipt/order confirmation. Also, I never signed for receipt of any goods/packages. Lastly, I stated that one of the retailers, XXXX reversed their charges on XX/XX/XXXX. To them, the charges were obviously bogus. If the XXXX charges were found spurious, why werent the others? How were the remaining charges any different? 

Still frustrated, I filed an FTC identity theft report on XX/XX/XXXX ( case number : XXXX ). Also on XX/XX/XXXX, I filed a complaint with the CFPB ( case number : XXXX ). Please review the notes from my initial claim/complaint. 

On XX/XX/XXXX, I received a follow-up letter ( dated XX/XX/XXXX ) from Wells Fargo Credit Card Fraud Claims stating that my claim would be taken into reconsideration. My guess was that this was the result of my addendum letter. It was difficult to tell exactly since this letter was identical to the one Wells Fargo Credit Card Fraud Claims sent on XX/XX/XXXX that asserted they were reconsidering my claim and I should receive results within 45 days. When receiving identical ( not similar ) correspondence, its difficult not to posit that when making a claim, the banks systems automatically trigger a response without actually following through. 

On XX/XX/XXXX ( dated XX/XX/XXXX ), I received a letter from Wells Fargo Card Services and Consumer Lending informing me that they received my CFPB complaint and were researching my claim. On XX/XX/XXXX ( dated XX/XX/XXXX ), I received a letter from Wells Fargo Credit Card Fraud Claims that they completed research and determined that the charges from XXXX and XXXX were, in fact, bogus and thus, were removed from my bill. However, the letter did not state anything regarding the remaining {$10000.00} of charges from XXXX and what was happening with that lingering research. Since Wells Fargo claimed it could take upwards of 45 days to complete their research, it would be assumed they were still investigating. 

On XX/XX/XXXX ( dated XX/XX/XXXX ), I received a follow-up letter from Wells Fargo Card Services and Consumer Lending further acknowledging my claim filed with the CFPB and my frustration with the process. Wells Fargo Card Services was going to pass along all the information of my CFPB claim to Wells Fargo Credit Card Fraud Claims.  Since this letter was dated XX/XX/XXXX, I believe the CFPB falsely closed my complaint/claim on XX/XX/XXXX as a result of Wells Fargo Card Services and Consumer Lendings response. However, it was my understanding that my claim was still being investigated. We were well within the 45 days that Wells Fargo claimed they needed to complete an investigation. Since the XXXX charges were still on my account, without being acknowledged in a follow-up letter or phone call, I assumed that the investigation was ongoing. Wells Fargo Credit Card Fraud Claims did state that they would provide a decision in writing. However, nothing of the sort regarding these XXXX charges ever came. 

On XX/XX/XXXX, I received a new bank statement from Wells Fargo Credit Card Services showing that all but the XXXX charges were credited back to my account. However, in the course of their investigation, Wells Fargo applied an interest charge of {$160.00} to my account. So, not only was I on the hook for over {$10000.00} in fabricated charges, I was now on the hook for an interest charge even while my claim was supposedly continuing to be investigated by Wells Fargo, the FTC, and the CFPB. That statement showed that I owed {$10000.00} in a lump sum payment due on XX/XX/XXXX. If we were to take into account that my claim was under that second reconsideration, as per the XX/XX/XXXX letter from Wells Fargo Credit Card Fraud Claims, 45 days would bring us to having a final decision by XX/XX/XXXX. Following the pattern of correspondence from Wells Fargo, I should then receive final confirmation on XX/XX/XXXX. No doubt, by then, I would be assessed a late payment penalty despite the fact that Im in the midst of an investigation. 

My issues can be summarized here. 1 ) Wells Fargo Credit Card Fraud Claims took my original dispute into reconsideration and said it could take upwards of 45 days to complete the investigation. However, they turned around in 2 days claiming they completed their investigation and that I was on the hook for all the charges. Although, if I hadnt pushed the issue with Wells Fargo and the CFPB, I never wouldve been relinquished from any charges, let alone the {$3600.00} worth of charges. All of the charges were from and belonged to someone else. I have never run up my credit card bill so wildly in my entire life. Since 3 of the 4 merchants forgave the charges, clearly, Im not the only one who saw the charges as phony. THEYRE ALL PHONY. Wells Fargo Credit Card Fraud Claims did not actually do any investigating and were simply paying lip service to the entire  procedure. Clearly, they didnt and dont care about a customers identity theft claim. 2 ) The follow-up letters Wells Fargo Credit Card Fraud Claims sent on XX/XX/XXXX and XX/XX/XXXX were identical. As a result, it was obvious that their responses to my claims were computer generated. They were not fulfilling their end of the bargain by investigating a very serious matter and were simply telling me they were. 3 ) I was assessed an interest fee while my identity theft claim was being investigated. This is a clearly lascivious business practice on Wells Fargos part. Not only are they not fulfilling their obligations with their investigations, theyre also finding ways to financially capitalize from them. There is no part of that which is remotely customer centric. 4 ) Just because Wells Fargo Card Services and Consumer Lending acknowledged receiving my claim, should not have meant that it was completed to the CFPB. Im still getting the runaround on an investigation and am on the hook for over {$10000.00} in spurious charges. How can this possibly be considered complete? 5 ) My claims are going around in a circle. I complained to Wells Fargo Credit Card Fraud Claims and got absolutely nowhere. I had to complain multiple times to get an semblance of traction with them. In my endless exasperation, I then complained to the CFPB. While prompt, the CFPB passed along my complaint to Wells Fargo Card Services and Consumer Lending. Wells Fargo Card Services and Consumer Lending then stated they were passing along my complaint back to Wells Fargo Credit Card Fraud Claims, which is the very department I had issues with in the first place. Based on this new claim/complaint, there was no resolution. The cycle needs to be broken and it needs to go to someone or some other department that will actually resolve the matter. 3 months of going back and forth in this affair, I am reaching my wits end. If I were able to afford to pay for someone elses $ 10,000+ counterfeit charges, I probably wouldnt be fighting so hard now. Beyond the injustice of the matter, I simply do not have the ability to fulfill this financial obligation. 6 ) While, this is only assumed, Wells Fargo will likely be tacking on a late payment fee to this {$10000.00} charge. Even though I am still pushing for further investigation of my original claim, Wells Fargos fraud claims procedures, or lack thereof, along with their indecent charging of interest on investigation cases and refusal to relinquish these fraudulent charges from my account, they are looking to capitalize even further on my victimization. 

I 'm coming forward at this time because I believe my statute of limitations is running out without having received adequate consideration in the first place. If there is any confusion regarding the timeline of events I provided, I included copies of all the letters I received from Wells Fargo Credit Card Fraud Claims as well as Wells Fargo Card Services and Consumer Lending. I also included copies of the letters I sent to Wells Fargo regarding my claim as well as verification of the statements I originally made to the FTC as well as the CFPB. Please help. Thank you.

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