Consumer complaint received 2023-04-06
Company: WELLS FARGO & COMPANY
State: FL
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Funds not handled or disbursed as instructed

Complaint:
On XX/XX/XXXX I received an email from Wells Fargo stating theyre closing my account out ending in XXXX Due to unauthorized payment in my account ( See exhibit A ). The same day I reached out to Wells Fargo and spoke to a representative by the name of XXXX she stated it came from my Paycheck Protection grant and XXXX XXXX has asked for their funds back. During this call I told XXXX that I was going to call XXXX XXXX and I will give them a call back she said OK. 

I called XXXX XXXX the same day which was XXXX XXXX ( they can pull this call from my phone number XXXX ) I spoke to an agent named XXXX she stated that they are not asking for the funds back because my loan was fully forgiven on XX/XX/XXXX. XXXX stated that, that's something my bank is doing and XXXX XXXX have nothing to do with that. I called Wells Fargo back and I spoke to XXXX XXXX case Specialist and advised her what XXXX XXXX representative told me. XXXX replied and said that Wells Fargo had to do their own investigation and I told her I can send over documentation and proof that my funds was totally forgiving and my payment was authorized by XXXX XXXX. 

XXXX XXXX stated I can't send Wells Fargo any information that support my claim. On XX/XX/XXXX Wells Fargo sent me another email out stating they will be holding the remaining balance of {$20000.00} in my accounts in a temporary account until we are able to process their claim, which may take up to 60 days ( See exhibit B " If a claim is received as expected, we will mail a cashier 's check payable to the claimant. If a claim is not received as expected, we will mail a cashier 's check to your address for the collected available balance in the accounts " ) Time has allotted and Well Fargo still has my funds that was transferred to another account. 
XXXX XXXX didn't process a claim for the funds because they didn't want the funds back, my grant was fully forgiven ( see exhibit C " SBA PPP FORGIVENESS* ) It's now has been two years and my funds is still not in my possession. 

On XX/XX/XXXX I made a Consumer Financial Bureau complaint against Wells Fargo regarding their unfair business practices. On XXXX XXXX XXXX XXXX from Executive Office case Specialist reach out to me via phone and stated she would be over my case. The same day XXXX sent an email that they'll respond back to me within 10 business days from that day which was the XXXX if not they would reach out to me and let me know they will need additional time as of today 's date no one has reach out to me as of vet. 

XXXX XXXX I sent XXXX an email stating I just got off the phone with XXXX from scratch he forwarded me additional information with verification from XXXX XXXX on their end as well that they never asked for my funds ( see exhibit D ). I provided XXXX with the proof from XXXX XXXX in the attachments that was sent from the agent XXXX. XXXX stated Wells Fargo would respond to me by the XXXX of XX/XX/XXXX. It is now XX/XX/XXXX and no one has still reached out to me. 

On XXXX XXXX I received a response from the XXXX XXXX XXXX XXXX XXXX  ) because I filed a complaint against Wells Fargo. Please see attachment. I finally got a response due to be filing this complaint from XXXX. 

There are a few electronic funds transfer violations with this issue. 

XXXX. Wells Fargo stated that XXXX XXXX requested funds back, but they ( Wells Fargo ) did not till this date send me ANY verification from XXXX XXXX that states otherwise. The XXXX provides pursuant to 15 USC 1693g ( b ) that the burden of proof is upon the financial institution to prove the consumer liability. Wells Fargo has failed to do just that and just stated disgracing statements such as saying the transaction was fraudulent. 

XXXX. Wells Fargo stated that if the claim is not received in 60 days " we will mail a cashier 's check to your address for the collected available balance in the accounts '' evidenced in exhibit B they have failed to return my funds. The XXXX provides pursuant to 15 USC 1693f ( a ) that a financial institution shall investigate the alleged error, Wells Fargo has failed to do so as I am not in receipt of any verification from XXXX XXXX stating they wanted forgiven funds back. 

XXXX. The XXXX provides pursuant to 15 USC 1693f ( b ) that the financial institution shall promptly correct the error including crediting the interest where applicable, they have failed to do as.

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