Consumer complaint received 2022-08-12
Company: WELLS FARGO & COMPANY
State: NJ
Product: Checking or savings account
Sub-product: Checking account
Issue: Problem with a lender or other company charging your account
Sub-issue: Transaction was not authorized

Complaint:
On XX/XX/2022 woke up to an email from Wells Fargo saying they noticed suspicious activity on my account. So as instructed I called and was routed to the fraud department. I spoke to a lady whose name I do not recall and she informed me that she was very confident I was a victim of account take over. When I asked why she explained there were suspicious and successful logins to my online banking. She also wanted to verify transactions. This is when I found out about the outrageous number of unauthorized fraudulent transactions that had taken place in my account over the course of a day. Naturally I filed disputes. When I heard back from the claims department I will say that they were very rude. They told me they denied my claim because I was a new customer to Wells Fargo and told me very little besides that. They told me they could not disclose the reasons my claim was denied due to the possibility I may learn how to commit fraud. I thought this was absolutely ridiculous but I heard this multiple times throughout the process. So I asked that they send me the documentation they used in their determination. They said this could take up to 30 days for me to receive and when I asked why would it take so long to receive the evidence that was used in their decision and they responded because they would need time together necessary information. To me I was very upset by this because it seemed very much so that they denied the claim without even doing an investigation. They told me this was a final decision and theres nothing I could do. In almost a snarky tone. After requesting for the second time to have the documents sent to me that supported their decision I did receive them. I was told there would be a detailed explanation in there why my claim was denied and there was not. When I called to ask why this is when I was informed that they would not disclose in writing or verbally the reason for denying my claim and only in certain court matters would they release that information. So they were denying my claim and not telling me why. However what I did receive was an entire list of login attempts to my account and just as the fraud department specialist informed me there were numerous logins from all over the world including a full account access from an IP address located in XXXX. I was outraged by this Because I was told they did not find any evidence of fraud but what they sent me was the exact opposite. It was in black-and-white the definition of fraudulent activity. I have filed a police report. Ive had to postpone my marriage for this reason as were talking about thousands of dollars that are missing. I have been a victim of identity theft no matter how many times I try to explain that or even offer documents to show that Wells Fargo simply does not care. And from my research this seems very common. 

The charges were almost all related to some sort of online gambling/sports book sites. And there were multiple charges. The claim was split into two parts one for XXXX and the other for XXXX. This is what the total amount of transactions amounted to. I have asked Wells Fargo to send me a copy of all the transactions which I will forward to 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