Consumer complaint received 2018-08-09
Company: WELLS FARGO & COMPANY
State: CA
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Problem using a debit or ATM card

Complaint:
Dear Consumer Financial Protection Bureau, This letter serves as an attachment to the complaint I am filing with you regarding Wells Fargo Bank ( WF ), with whom I have been a begrudging customer for 10+ years and an employee ( teller ) back in XX/XX/XXXX-XX/XX/XXXX. This year I went to WF for assistance when I was alerted to the fact that I was the victim of fraud by a company named XXXX XXXX XXXX ( XXXX ). Through an online ad-flipping platform and a four-month relationship in which I was harassed, bullied, disrespected and patronized by account managers '', I was scammed/defrauded out of just over $ 10K. This was the remaining amount from a confidential settlement I received from a University after poor treatment from its faculty in a XXXX program left me with XXXX, XXXX and XXXX XXXX. 

After conversations with representatives from the Consumer Watch division of XXXX XXXX XXXX XXXX XXXX ( who informed me I had fallen prey to a complex scam ), I immediately went to my bank to ask for help recovering the money I was promised would be used for lower risk, short term growth. Because every one of the 4.1 transactions took place on my WF debit card ( totaling {$10000.00} ) I filed disputes of the transactions on XX/XX/XXXX, an option that is eligible to customers under two conditions : 1 ) the transactions were not authorized or ; 2 ) the customer did not receive the product or services that were paid for. Wells Fargo Bank conducted a cursory investigation and gave me a temporary credit of {$2500.00}. I was given assurances by the personal banker I spent over two hours discussing this issue with that the bank would help me recover the remaining money. 

Weeks later, after having to execute a relocation from XXXX to XXXX with no money, Wells Fargo concluded its investigation and denied the disputes on the basis the transactions were authorized ( citing an agreement with terms that had my signature on it ). That wasnt the condition I filed the disputes under and I signed that agreement with XXXX on XX/XX/XXXX ( at which point I had invested {$250.00} ) and had no idea I was signing the very document that would cause WF to deny me assistance. I only signed that document because this was an international company and I believed that signing documents given to me under the guise of compliance was protecting myself should this company disappear with my investment. Despite spending two hours in a branch in XXXX XXXX talking to a personal banker who walked me through the dispute process, assisted me with taking screen shots of the online platform and even reviewed my cover letter and supplemental materials for the claims filed with Card Services ( XXXX and Wells Fargo Card Services.docx ), WF not  only told me I was on my own as far as recovering the money, but that they were taking back the credit of {$2500.00}. Having to use that money to relocate, my credit and checking account went into the negative and have been hemorrhaging with overdraft fees, insufficient funds fees, etc I had to open an account with XXXX while I requested a review/appeal of the decision by the Card Services department. After learning of all that transpired, the personal banker believed an error was made and there was still recourse to pursue. He emailed me the Customer Friendly Phone Number to Direct Office or CEO XXXX XXXX. I called this number and opened a review of WFs decision with the Executive ATM Services department. 

It is now XX/XX/XXXX and no decision has been made. I have lost count of how many times I have called the personal banker, Customer Service, etc. The closest WF branch is two hours one-way on public transportation. Another personal banker advised me to execute a loss transfer to freeze the overdraft charges. That only made matters worse. By my estimates WF is now treating me like I am a delinquent customer, owing them  somewhere around {$4500.00}. I have manged to resolve the issues with my credit card, which is still active with them. In addition to the appeal I filed with WF after the first denial, I have filed the following reports, charges or complaints in an attempt to resolve this fiasco and recover the money I invested ( as opposed to fighting Wells Fargo over money they say I now owe THEM ) of which I have not gotten back even one cent or seen any product or service provided : 1. Police Report with the XXXX Police Department ( Online Police Report XXXX ) 2. Complaint at econsumer.gov ( Reference No : XXXX ) 3. Complaint with IL Office of the Attorney General ( Reference No : XXXX XXXX ) 4. Complaint with Federal Trade Commission ( Reference No : XXXX Not only am I frustrated with WF, but my efforts to find employment to get back on my feet have been tanked by WF due to recent delinquencies reported to the credit bureaus. I applied to be a XXXX XXXX for XXXX and XXXX. I dont have a car and after waiting six weeks for a background check to clear, I was denied eligibility to rent a vehicle to work because of my credit, which has been impacted by the above-mentioned events. WF knows that it has a much better chance of recovering the full amount plus fees and damages from these scam artists ( with my assistance ). On my own, the most I can hope for is recovering a partial amount after several months, which WF now expects me to hand over to settle my accounts with them. I dont want them to report me to checking systems in which case my account with XXXX will be closed and Ill have no ability to open a checking account. On principal I feel strongly opposed to giving WF any of the money I may or may not recover. Due to the actions ( or lack thereof ) of Wells Fargo my invested money is now seeing a return or growth, but horrifically it is only in the amount of debt and financial ruin I am incurring. WF failed to protect me as a customer and were complicit with XXXX XXXX XXXX in committing theft, fraud, and deceptive business practices. 

I found out in XX/XX/XXXX that I gained admission to XXXX University, but without guaranteed fellowship funding to start. Had I left this money in an account, I could have started school later this month and applied for internal and external funding to finish the degree I started pursuing in XX/XX/XXXX. Instead of moving forward ( the reason I took a settlement as opposed to suing for Title IX and civil rights violations ) I am now faced with the real possibility of having to declare bankruptcy. I just found out today on XX/XX/XXXX that Wells Fargo has closed my checking account, they sent me an email about my closed checking account and are demanding payment and reporting the closed account to " XXXX XXXX XXXX  ''. I imagine they are going to try and get a judgement, garnish any wages I might get, etc. 

Sincerely, XXXX 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 explanation