Consumer complaint received 2017-06-13
Company: WELLS FARGO & COMPANY
State: TX
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Getting a loan or lease
Sub-issue: Credit denial

Complaint:
I am being discriminated for my age, race and/or religious belief. I was denied a vehicle loan by  Wells Fargo Bank, the bank that I bank with. I have been a customer for about 25 years. I have liquid assets and investments of not less than $ 200k with them.   <P/> I applied for a vehicle loan in the amount of $  XXXX . I have a current  credit score  of  XXXX . I was allegedly turned down for this loan for a variety of things ( too many inquires ) ; balances to credit limits on bank revolving accounts, time since most recent account opening to short, to many accounts with balances. I called the number on the denial letter that stated if I had questions - to call  XXXX  ; which I did and spoke with two bank representatives to discuss why I was turned down and the specifics mentioned in their letter. I asked basic questions like how many inquires are to many? How many accounts with balances are considered to many? I also informed them that they have been my bank for 20 years plus, that I hold over $ 200k in cash with them ; that I have  XXXX  homes/properties of which  XXXX  have mortgages with principle balances of not less than 50 % of their value,  XXXX  commercial loans of which they have held  XXXX  for over 10 years. I have no late payments and I pay over and above the minimum payment on the  XXXX  mortgages and that I carry no bank revolving debt from one month to the next ( I completely pay them off each month ). Yet I am turned down for credit?  <P/> I was instructed that I should pay off my credit cards and reduce my debt. I again reminded them that I have no bank revolving debt - and asked if the mortgages were being confused. He could n't answer.  <P/> My belief is that they have access to some information from my 20 year banking relationship and know that I pay   XXXX   to the  XXXX   XXXX  and that I hold certain beliefs that they disagree with. Since my  credit score i s solid, my employment as a wage earner has been with the same company for 20 years ; that I own multiple real estate properties outright, carry no consumer credit card debt, have assets sufficient to qualify on  XXXX  real estate mortgages with required cash reserves - that I am being discriminated against. My color of my skin, my age and now for sure my religious belief which they have access to since they hold my checking account information for decades.They even admit that their decision was based in whole or in part o n a credit score w hich was reported at  XXXX  and in whole or in part on the information obtained from an affiliate or from an outside source other than a consumer reporting agency - which I have requested be identified and the nature of the information which has not been provided in accordance with law. This is the same bank that fraudulently opened credit card and bank accounts using personal banking information provided - I think ther e may be more use of personal banking information that folks are not aware of. They do n't publish credit requirements or provide such minimum requirements - all applications go thru this discriminating underwriting review that no one at the bank can identify or advise you what requirements may exist ( minimum in come, length at work,  credit score,  property owner, tenant, business owner, debt to income ratio, etc. ) when applying for a WFB loan.  <P/> and carry no consumer credit card debt -

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 non-monetary relief