Consumer complaint received 2018-07-08
Company: WELLS FARGO & COMPANY
State: CO
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Managing the loan or lease
Sub-issue: Problem with the interest rate

Complaint:
I purchased a used XXXX XXXX XXXX in XX/XX/XXXX through a dealership and obtained the loan through Wells Fargo at an interest rate of 14.99 % for Account # XXXX. The loan was paid in full on XX/XX/XXXX. In XX/XX/XXXX I joined the XXXX XXXX XXXX and served on XXXX XXXX from XX/XX/XXXX - XX/XX/XXXX. Furthermore, on XX/XX/XXXX I Palace Chased into the XXXX XXXX XXXX and have been actively service as a traditional Guardsman for the Colorado XXXX XXXX XXXX since then. I have been placed on XXXX XXXX ( title XXXX ) order several times since I joined the XXXX XXXX XXXX, one of which included a XXXX to PACAF from XXXX XXXX - XX/XX/XXXX and subsequent orders from XXXX XXXX and XXXX XXXX. 

Upon returning from my XXXX, I learned about the benefits offered under the XXXX in order to protect service member from high interest rates. Therefore, on XX/XX/XXXX, I contacted Wells Fargo to dispute the high interest rate and hoped to get reimbursed the difference over the APR that the service member is protected for under XXXX due to a pre-service loan. I explained that I am fighting to be reimbursed the difference from XX/XX/XXXX - XX/XX/XXXX ( which is when the loan was closed ). I received a denial letter from Wells Fargo stating the following : - " we are unable to provide benefits at this time due to the following reasons : '' 1 ) Information we received indicates that it has been more than one year after the end of the service member 's period of military service ; therefore, we are unable to provide XXXX benefits. 

Upon receiving this denial letter on XX/XX/XXXX, I contacted Wells Fargo to explain that I am still serving in the military and returned from a XXXX on XX/XX/XXXX ; therefore, it had not been more than one year since my period of military service. I escalated the dispute to The Office of the President at Wells Fargo and on XX/XX/XXXX by calling them directly. On XX/XX/XXXX I received the same denial letter informing me that I had to have made the request for XXXX benefits by XX/XX/XXXX. 

I have tried to seek assistance for this matter since they are denying me under false pretense that I am no longer in the military. I have provided them with proof that I am STILL serving in the military by submitting my XXXX, Title XXXX orders, and detailed explanations of active service, but they are still telling me that I no longer have the right to fight for the XXXX benefits. My dispute was initially made less than XXXX after ending my last set of XXXX XXXX order ; therefore, I do not understand why I am being denied these rights. Especially since I am seeking reimbursement for a time period when I was on XXXX XXXX. Can you please advice me on my rights and explain why or why no I am being denied? 

Thank you for your time and assistance with this matter. 

Respectfully, SSgt 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 monetary relief