Consumer complaint received 2023-04-11
Company: WELLS FARGO & COMPANY
State: GA
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Problems at the end of the loan or lease
Sub-issue: Unable to receive car title or other problem after the loan is paid off

Complaint:
I am writing to file a complaint against Wells Fargo Auto regarding their failure to honor an accord and satisfaction agreement and their intentional mishandling of payments to my account. 

On XX/XX/XXXX, I reached an agreement with Wells Fargo Auto to settle my outstanding debt for my auto loan through an accord and satisfaction agreement. Despite this agreement, Wells Fargo Auto has continued to demand payment and has even threatened to repossess my vehicle. 

Additionally, Wells Fargo Auto has been purposely misapplying my payments, resulting in inaccurate account balances and additional fees. This behavior is a clear violation of consumer protection laws, including the Fair Credit Reporting Act and the Fair Debt Collection Practices Act. 

Furthermore, my research has revealed that Wells Fargo has a history of similar behavior. In XXXX, the CFPB fined Wells Fargo {$100.00} million for opening unauthorized accounts and charging customers for services they did not request. This is evidence of a pattern of unethical and illegal behavior by Wells Fargo, which warrants further investigation and action by the CFPB. Most recently they have been charged again for illegal practices, their executive office is unprofessional and uneducated and poses a threat to the life and liberty outlined in the Constitution of this great Nation. Accord and Satisfaction is a write of the people to discharge debt and their ignorance of the law is no excuse in law. 

I request that the CFPB investigate this matter and take appropriate action against Wells Fargo Auto for their failure to honor an accord and satisfaction agreement, their intentional mishandling of payments, and their violation of consumer protection laws. Thank you for your attention to this matter. 

Sincerely, XXXXXXXX XXXX XXXX  settlor References : Fair Credit Reporting Act : https : //www.consumerfinance.gov/policy-compliance/rulemaking/regulations/602/fair-credit-reporting-act/ Fair Debt Collection Practices Act : https : //www.consumerfinance.gov/policy-compliance/rulemaking/regulations/807/fair-debt-collection-practices-act/ CFPB fines Wells Fargo {$100.00} million : https : //www.consumerfinance.gov/about-us/newsroom/cfpb-fines-wells-fargo-100-million-widespread-illegal-practice-secretly-opening-unauthorized-accounts/ CASES regarding accord and satisfaction : Peters v. General Motors Acceptance Corporation, 409 F.2d 449 ( 1969 ) XXXX In this case, the court found that an agreement to settle a debt for a lesser amount than what was owed constituted an Accord, and once the debtor fulfilled their obligation to pay, the debt was discharged through Satisfaction. 

Ficara v. Belleau, 555 N.Y.S.2d 222 ( 1990 ) - The court held that a check marked " payment in full '' and sent with a letter stating that the debtor would accept the check as full satisfaction of the debt constituted an Accord and Satisfaction, and therefore, discharged the debt. 

Mortenson v. First Federal Savings and Loan Association, 549 P.2d 1300 ( 1976 ) - The court found that the debtor 's check, which included a restrictive endorsement indicating that the payment was in full satisfaction of the debt, constituted an Accord and Satisfaction, and therefore, the debt was discharged.

Hutter Northern Trust v. Door County Cherryland 's Cooperative, 636 N.W.2d 98 ( 2001 ) - The court held that the debtor 's payment of a lesser amount than what was owed, accompanied by a letter indicating that the payment was in full satisfaction of the debt, constituted an Accord and Satisfaction, and therefore, the debt was discharged.

Sykes v. Mel Harris & Associates, LLC, 757 F.3d 54 ( 2d Cir. 2014 ) - In this case, the court found that the debtor 's payment of a lesser amount than what was owed, accompanied by a letter stating that the payment was in full satisfaction of the debt, constituted an Accord and Satisfaction, and therefore, the debt was discharged.

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