Consumer complaint received 2019-07-22
Company: WELLS FARGO & COMPANY
State: CA
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Problem with a purchase shown on your statement
Sub-issue: Credit card company isn't resolving a dispute about a purchase on your statement

Complaint:
On XX/XX/2019 all of my credit and debit cards were stolen from my wallet. 2 credit and 2 debit cards were from Wells Fargo. I realized they had been stolen when I began to get texted fraud alerts about charges in the thousands of dollars from a nearby XXXX XXXX. 

I immediately called Wells Fargo and reported the cards stolen. The representative I spoke with verified that some charges had been made at the XXXX XXXX, and I claimed that they were unauthorized. I was assured that I would not be held responsible for the charges. 

A few days later, I received Declaration of Fraud and Forgery documents from Wells Fargo. I duly indicated that the charges from The XXXX XXXX were unauthorized fraud, and returned the signed documents to Wells Fargo. 

On XX/XX/2019, I received a letter from the Wells Fargo Claims Assistance Center stating that they had completed their research on the claim from one of my credit cards, and that they had determined that no fraud occurred. The reason they stated was that " the merchant verified your personal information, which may include dame, address, phone number email, account number or card expiration date. '' Well, of course they could verify my name, account number and card expiration date, the thief had my card in their possession! 

I then checked my account online and discovered that Wells Fargo had charged back {$4700.00} to my credit card! And they had done it on XX/XX/2019, over 3 weeks before they notified me. This is almost half of my credit limit. 

I called the Wells Fargo Claims Assistance Center to ask what I could be do to reverse their decision, and they informed me that I had to submit my request for reconsideration in a written letter, and that it would take several weeks for them to resolve the issue. In the mean time, I AM RESPONSIBLE FOR THOSE CHARGES! All of the complaints I registered fell on deaf ears. 

The following FAQ is listed on wellsfargo.com under credit card security and fraud : What if there are unauthorized charges on my stolen card? 
Through the free XXXX program, you are not responsible for unauthorized transactions that are reported within 60 days from the first statement showing the unauthorized transaction. If your card ( or card number ) is ever lost or stolen, your account is safe. Just report your missing card right away or tell us as soon as you notice any unauthorized activity. 

For Business Platinum and Secured Cards : XXXX For Business Elite Card : XXXX Also, according to the Truth in Lending Act, my maximum liability for credit card fraud is {$50.00}. Wells Fargo is clearly trying to cheat me. 

Sound familiar? I've been a customer of Wells Fargo for 28 years, and decided to give them the benefit of the doubt when the customer sales scandal came to light a few years ago, as they seemed genuinely interested in atoning. But no more. Once this is resolved, I'm done with them for good. 

I have attached copies of all the correspondence I have received from Wells Fargo to date, with my personal information redacted.

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